So, it is no surprise to anyone that property prices in Cardiff have increased over the last twenty years. However, do you know by how much the average property prices have increased?
Property in Cardiff twenty years ago was on average just £66,362. Compare that with today’s average Cardiff property price at £206,433. That is a sizable 211% increase! Compare that to figures for the average property prices in the UK, which have risen 189% in twenty years.
In the same time period, inflation has increased about 68%. So, let’s think about that in layman’s terms. The average price of property in Cardiff in the last twenty years has increased 143% more than the average rate at which the general level of prices for goods and services has risen in the UK and 22% more than the average UK property price.
On average your Cardiff property has increased by the price of a takeaway per day. To visualise what that looks like, see below;
This fascinating graph shows the growth of property in Cardiff over the last twenty years. A steep increase in prices from 2001 to 2005 with prices increasing 111% in just 4.5 years. The biggest increase happened in May 2003 where Cardiff property increased 26% in just one year!! The first 10 years are typical of the boom and bust climate. However, within the last 10 years the graph shows strong consistent growth, and prices up 21% in the last 5 years.
In the above graph, I have overlaid with the Wales average property prices. Here you can see consistent growth, however since 2010 you can see Cardiff property prices have grown at a much higher percentage than Wales as a whole.
This is great news for property investors looking at more long-term investments in Cardiff and Wales. When you invest in property long term you gain income from rental payments and from the capital growth when you decide to sell or re-mortgage.
So, just think when you order your next takeaway, how much has your property increased in price today?
To make this even more interesting, I can tell you that not all of Cardiff and The Vale has increased at the same rate. See below to see how property prices in your area have grown over the last twenty years;
|Roath & Cathays||231%|
Whitchurch has had the largest property growth in Cardiff and The Vale with 266% property price increase which equates to an average of £26 per day.
If you have any questions, or would like any advice for any properties you have, then get in touch.
Working with property professionals for over 20 years providing advice and services to all property investors.