The value of real estate in the Canton area of Cardiff has continued to rise since 2017.
House prices have risen steadily, mainly driven by increased demand and more flexible down payment requirements for young buyers.
The real estate agent said: ” Reducing the down payment to 5% opens the market, attracts young buyers and drives demand growth.”
According to the survey data of the British government’s official website, house prices in the Canton area have increased significantly over the years.
For example, the average house price in Cardiff in 2006 was £154,183, and by 2024 it had increased to £235,054 , an increase of 52.5%. This growth rate exceeds the increase in wages and leads to a crisis of housing affordability.
Specifically in the Canton area, house prices are still solid. As of recent years, the average price of terraced houses is £312,585, semi-detached houses has reached £374,630, and the average price apartment is £185,250.
Despite the existence of government policies such as stamp duty adjustment, market demand is still the main driving force for price increases.
“We see that the continuous rise in house prices is mainly due to the strong interest and demand of buyers,” Rachel Andrews said. This makes the house prices in the Canton area reach an unprecedented high.
There are many high-end residential areas under construction in the Canton area, which are responding for providing local residents with a residential experience that integrates housing, consumption and entertainment.
CF14 and CF5 in Canton area have higher property value due to their superior geographical location and high-end facilities.
These areas offer excellent schools, parks and proximity to the city centre, making them particularly popular.
Rebecca Cunard said:” The risen house prices in the Canton area has led to more economically powerful buyers entering their market.” resulting in changes in the original community structure, which also leads to the culture atmosphere of the community.
Rising real estate prices have put economic pressure on local residents, making many people’s home ownership and affordability more and more challenging.
As property increase, buyers and families face fritter financial challenges, impacting their housing choices and future planning.