How is Cardiff Property Performing?

Winter has nearly taken hold and the days are getting much colder – but has the property market in Cardiff cooled off?

Let’s have a look at Cardiff. As a whole it’s performing above the UK averages with an average value of £202,105 and an annual increase of 6%. Compare this to the UK statistics from HPI and ONS showing an average value of £232,797 and an annual growth of 3.2%

Delving a bit deeper let’s compare Cardiff to other parts of Wales;

You may have noticed in the chart that the average price of property in Barry seems higher than Cardiff – In this case the figures for Barry include property in Penarth.

So now we know that property in Cardiff is still hot at the moment. However, what parts of Cardiff are perfoming the best?

CF14 – Average Price £244,960 with annual growth of 6%

CF23 – Average Price £228,267 with annual growth of 5%

CF24 – Average Price £169,204 with annual growth of 5%

CF10 – Average Price £168,130 with annual growth of 1%

CF11 – Average Price £187,015 with annual growth of 7%

CF3 – Average Price £170,651 with annual growth of 7%

CF5 – Average Price £182,191 with annual growth of 2%

As you can see some parts of Cardiff are performing better than others, so lets have a look at CF14, CF11 and CF3 in greater depth as these areas have the best growth.

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CF11

Let’s start with CF11. Breaking down the available information, I can tell you that Pontcanna has a huge growth of 18% in the last 12 months. This seems great, which don’t get me wrong is fantastic annual growth. However, Pontcanna is one of the more expensive areas compared to other parts of Cardiff with an average price of £261,656. You would need to take this into consideration when buying in Pontcanna.

CF14

Now looking at CF14, the greatest growth has been in the Whitchurch area with an annual increase of 12% and a generous 34% over the last 5 years. However, due to this growth, Whitchurch now has an average price of £255,984 which again compared to other parts of Cardiff is expensive.

Sneaking in behind the scenes is an area I previously tipped to keep an eye on, this area is Llanishen. Why have I tipped this area? Well, with an annual growth of 10% and 25% over the last 5 years it is a strong performer, but with an average price of just £192,436 it is also fairly cheap.

With transactions in the UK down -2.7% and in Cardiff down -4% the property market is slowing. Transactions in Llanishen however are up 8% which shows buyers are picking up some great bargains here.

CF3

St Mellons has been a slow mover over the years and has had a more turbulant performance with significant price drops in 2012, 2013, 2016 and even the second half of 2017. However, latest figures are showing recovery with an annual increase of 13% and an average price of just £164,312. Some great bargains to be had here, but buyer beware. With its turbulant record it could be a rollercoaster ride making buying and selling here costly if not timed correctly.

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Noting all of the above, does the property market in Cardiff have uncertain times ahead with Brexit looming on the horizon? More about this and my predictions coming very soon…