{"id":41050,"date":"2019-03-14T12:32:10","date_gmt":"2019-03-14T12:32:10","guid":{"rendered":"http:\/\/www.jomec.co.uk\/intercardiff\/?p=41050"},"modified":"2019-03-14T12:32:10","modified_gmt":"2019-03-14T12:32:10","slug":"cardiff-properties-expensive-millennials-average-property-prices-reach-record-high","status":"publish","type":"post","link":"https:\/\/cardiffjournalism.co.uk\/intercardiff\/politics-social-justice\/cardiff-properties-expensive-millennials-average-property-prices-reach-record-high","title":{"rendered":"Average property prices in Cardiff reach a record high"},"content":{"rendered":"<h2>Average property prices have quadrupled over the last 20 years in Cardiff, making it stand out from other developing cities in the U.K.<\/h2>\n<figure id=\"attachment_41177\" aria-describedby=\"caption-attachment-41177\" style=\"width: 625px\" class=\"wp-caption alignnone\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-41177 size-medium\" src=\"https:\/\/cardiffjournalism.co.uk\/intercardiff\/wp-content\/uploads\/sites\/12\/2019\/03\/h2-625x352.png\" alt=\"\" width=\"625\" height=\"352\" \/><figcaption id=\"caption-attachment-41177\" class=\"wp-caption-text\"><noscript><img decoding=\"async\" class=\"wp-image-41177 size-medium\" src=\"https:\/\/cardiffjournalism.co.uk\/intercardiff\/wp-content\/uploads\/sites\/12\/2019\/03\/h2-625x352.png\" alt=\"\" width=\"625\" height=\"352\" \/><\/noscript> Flats in Cardiff sold for an average of \u00a3170,470 in 2018-19<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\"> According to<\/span><a href=\"https:\/\/twitter.com\/handmproperties\/status\/1103632583332634624\"><span style=\"font-weight: 400\"> H&amp;M Properties<\/span><\/a><span style=\"font-weight: 400\">, the average price of houses has risen from <\/span><span style=\"font-weight: 400\">\u00a351,000 in 1999 to over \u00a3205,000 in 2019. Making it difficult for young people to afford a home in the capital.. <\/span><\/p>\n<p><span style=\"font-weight: 400\">According to Sean, a spokesperson from H&amp;M properties, \u201c<\/span><span style=\"font-weight: 400\">In recent years Cardiff has been one of the strongest cities in the UK for property value growth.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400\">This has affected the way people buy properties in Cardiff as it has become tougher for young people to own a house at all. According to the website<\/span><a href=\"https:\/\/www.rightmove.co.uk\/house-prices-in-my-area\/marketTrendsTotalPropertiesSoldAndAveragePrice.html?searchLocation=CF10+2GD&amp;sellersPriceGuide=Start+Search\"><span style=\"font-weight: 400\"> RIghtmove<\/span><\/a><span style=\"font-weight: 400\">, in some parts of the CF postcode area, homes are selling for \u00a3300,000 more than they were in the year 2000.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Below is an interactive map to help analyse the changes in property prices from the summer of 2000 to the summer of 2018. <\/span><\/p>\n<p>.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }<\/p>\n<div class=\"embed-container\"><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400\">According to Kay Pas, a student at Cardiff Metropolitan University, \u201cAfter just searching on the internet for a place to let after college, I was\u00a0<\/span><span style=\"font-weight: 400\">shocked by how tough it is for young people like me to get into the housing ladder,\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cCardiff properties are too expensive for millennials anyways, the pay scale in Cardiff doesn\u2019t match its inflating prices according to me.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">In some parts within commuting distance from Cardiff, like Barry, the growth has been unprecedented. The prices in Barry have jumped <\/span><a href=\"https:\/\/www.itv.com\/news\/wales\/2019-03-13\/barry-named-a-property-hotspot-as-house-prices-jump-by-10-6-in-a-year\/\"><span style=\"font-weight: 400\">10.6%<\/span><\/a><span style=\"font-weight: 400\"> in the last year, which means the locality has seen higher growth in property asking prices than anywhere else in Britain outside of London.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The average asking price in Barry now stands at \u00a3191,050, sitting a notch lower than the average price of properties in Cardiff. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Most expensive property in <a href=\"https:\/\/twitter.com\/hashtag\/Wales?src=hash&amp;ref_src=twsrc%5Etfw\">#Wales<\/a> <a href=\"https:\/\/t.co\/R9OeKc0Jr3\">pic.twitter.com\/R9OeKc0Jr3<\/a><\/p>\n<p>\u2014 H&amp;M Properties (@handmproperties) <a href=\"https:\/\/twitter.com\/handmproperties\/status\/1105453695632842752?ref_src=twsrc%5Etfw\">March 12, 2019<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">This combined with the average salaries of Cardiffians makes for an interesting trend in property sales. According to Payscale, the average Cardiffian earns <\/span><span style=\"font-weight: 400\">\u00a3<\/span><span style=\"font-weight: 400\">24,000 which makes potential future buyers worry of their prospective purchase and mortgage payments. <\/span><\/p>\n<div style=\"width: 100%\">\n<div style=\"padding-bottom: 56.30%;padding-top: 0;height: 0\"><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400\">Experts also predict a continuation of similar trends as Douglas Haig, the director for Wales of the Residential Landlord Association, said, \u201cThere is currently overall uncertainty within the market, mainly due to Brexit, but there are indicators pushing in both directions that will support house price growth.\u201d <\/span><\/p>\n<p><a href=\"https:\/\/www.northwooduk.com\/articles\/where-will-cardiff-property-prices-be-by-2021\"><span style=\"font-weight: 400\">Northwood UK<\/span><\/a><span style=\"font-weight: 400\">, experts in property have given Cardiff a prediction of steady inflation, meaning by 2021, average prices would have gone up another 16%. <\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exponential growth since the turn of the century has made buying your own house in the capital a herculean task.<\/p>\n","protected":false},"author":472,"featured_media":41227,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[14],"tags":[76],"coauthors":[713],"class_list":["post-41050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics-social-justice","tag-brexit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - 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