Overview Of House Prices In Cardiff

It has been noted that house prices in Cardiff have settled over the last few months. This means that the continual increases over the last year (approximately 5.6%) have ebbed and that some properties already on the market have seen price reductions. It is forecasted that asking prices in 2023 may drop by 2% according to Rightmove. The number of properties and buyers has been high in the last couple of years. It is noted that this may not be the case in 2023 as the market settles. We believe property will still sell, albeit at around the 2% reduction and with possibly fewer enquiries. This is why it is important to correctly value your property in Cardiff. We can see that people are still cautious of the market although are willing to enter the market. This will improve over the next couple of months with more sellers and buyers. Properties in Cardiff had an overall average price of £291,255 over the last year. As stated above, we don’t expect to see these figures rise. We can be fairly confident that prices will also not freefall. We think the right approach for people is to be realistic. Realistic in your expectations and realistic in pricing.

House prices in Cardiff have enjoyed substantial growth over the last ten years. This has allowed many people to reach their financial and property goals. Whilst growth may slow, the sale of property will continue to flow. Cardiff is a fantastic city with much to offer potential buyers. As the dust settles, it is good to know that the market is moving.

Overview Of Cardiff

Cardiff is the capital city of Wales and offers everything you could need. From city apartments to lavish detached properties overlooking lakes, Cardiff has something for every buyer. Many areas are becoming trendy and benefit from investment of one kind or another. There are numerous property developments being undertaken in the city and on the outskirts. We have some amazing properties in Cardiff. Having a client centre on Cathedral Road in Cardiff places us in the heart of the city. Cathedral road and the surrounding areas such as Pontcanna offer highly desirable areas to buy. We can assist buyers in this area and every other area of Cardiff. As with understanding the house prices in Cardiff, understanding the areas is key.

If it is difficult to find a property in the city for your budget, then consider public transport links. Transport links tend to be good for Cardiff whether by car, train or bus. Especially with Wales bringing in a new transport system (Metro) in the near future.

With house prices settling and mortgages starting to fall again, the Cardiff property arena will soon be vibrant again. Realism is the word of the day, meaning buyers and sellers have to be realistic. Sellers should think twice before overpricing and buyers should be realistic in terms of how much they can barter down the price. There has to be a happy medium and this will happen in the coming months.

So, if you are thinking about house prices in Cardiff in 2023, then this article should help. The light can clearly be seen at the end of the tunnel and so it is time to seriously consider getting back on the market. Whether as a first time buyer or looking to upsize of downsize, the market is ready for you.