{"id":32304,"date":"2019-02-12T14:54:17","date_gmt":"2019-02-12T14:54:17","guid":{"rendered":"http:\/\/jomec.co.uk\/thecardiffian\/?p=32304"},"modified":"2019-02-12T14:54:17","modified_gmt":"2019-02-12T14:54:17","slug":"cardiff-house-prices-soar-240-in-two-decades","status":"publish","type":"post","link":"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/2019\/02\/12\/cardiff-house-prices-soar-240-in-two-decades\/","title":{"rendered":"Cardiff house prices soar 240% in two decades"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-32312 size-large aligncenter\" src=\"http:\/\/jomec.co.uk\/thecardiffian\/wp-content\/uploads\/2019\/02\/House-price-1024x768.jpg\" alt=\"\" width=\"960\" height=\"720\" \/><noscript><img decoding=\"async\" class=\"wp-image-32312 size-large aligncenter\" src=\"http:\/\/jomec.co.uk\/thecardiffian\/wp-content\/uploads\/2019\/02\/House-price-1024x768.jpg\" alt=\"\" width=\"960\" height=\"720\" \/><\/noscript><br \/>\nHOUSE\u00a0prices in Cardiff have soared 240% in two decades, outstripping the average rate of inflation by 167%.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nLatest figures from The Land Registry Authority show the average sale of a house has nearly quadrupled in some areas of Cardiff.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nRumney and\u00a0Llanrumney\u00a0has seen its house sales increase\u00a0by 258%. The average sale in 1998 was \u00a358,115\u00a0but a home would now set you back \u00a3208,805.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nRumney\u00a0councillor Bob Derbyshire attributes the rise to Margret Thatcher\u2019s\u00a01980s\u00a0right-to-buy\u00a0scheme, which let council house tenants buy their homes for a large discount.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cMost of the\u00a0newer council homes built in the 1950s\u00a0and 60s\u00a0are now privately owned and so the cost of ex-council properties has risen as demand grows, thus pushing the price up.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cAs the value of these homes increase,\u00a0that has a knock-on effect on the more traditional private homes which are now generally in the\u00a0\u00a3200,000 to\u00a0\u00a3300,000 price bracket,\u201d he said.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nCoun Derbyshire added that \u201cthe more recent sharper increases have been because of the shortage of housing in Cardiff\u201d.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cWith the joint Council\/Waite\u2019s initiative providing social housing in\u00a0Llanrumney, Trowbridge, St Mellons and, soon to be, Rumney when the Eastern High site is\u00a0developed, I would hope that might relieve some of the pressure on prices.\u201d<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n<b>The overall picture<\/b><span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nCyncoed\u00a0boasts the highest average price for a detached house in 2018 \u2013 a whopping \u00a3426,781.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nThis represents a 288% increase from 1998, when the average detached home was \u00a3110,821.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n<span data-ccp-props=\"{}\">\u00a0<\/span>A semi-detached house today costs \u00a3170,633 more than it did in 1998.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n<span data-ccp-props=\"{}\">\u00a0<\/span>Although, there was nearly a \u00a3100,000 difference for the average sale between\u00a0Adamsdown\u00a0and Rhiwbina for a semi-detached home.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n<span data-ccp-props=\"{}\">\u00a0<\/span>The average price of a terraced house has risen by up to 336%, with\u00a0Leckwith\u00a0and\u00a0Pontcanna\u00a0seeing the biggest increase.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n<img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-32308 size-full\" src=\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices.png\" alt=\"\" width=\"1774\" height=\"994\" srcset=\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices.png 1774w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-300x168.png 300w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-1024x574.png 1024w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-770x431.png 770w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-1536x861.png 1536w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-500x280.png 500w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-293x164.png 293w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-1400x784.png 1400w\" sizes=\"auto, (max-width: 1774px) 100vw, 1774px\" \/><noscript><img decoding=\"async\" class=\"alignnone wp-image-32308 size-full\" src=\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices.png\" alt=\"\" width=\"1774\" height=\"994\" srcset=\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices.png 1774w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-300x168.png 300w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-1024x574.png 1024w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-770x431.png 770w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-1536x861.png 1536w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-500x280.png 500w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-293x164.png 293w, https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-prices-1400x784.png 1400w\" sizes=\"(max-width: 1774px) 100vw, 1774px\" \/><\/noscript><br \/>\n<span data-ccp-props=\"{}\">\u00a0<\/span><b>Will it continue to rise?<\/b><span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nResidential Landlord Association Director Douglas Haig believes it will.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cWales can only see a continued increase in house prices in Cardiff.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cThere are several factors that influence the market. With Cardiff\u2019s continued investment and growth (especially with the Cardiff City Capital region\/South Wales Metro Deal), andf high retention of graduates of Cardiff\u2019s uiversities working in the city,\u00a0the number of homes needed will only increase, driving up prices.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cThis paints a picture that the value of retaining and holding property in Cardiff is high.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cThe recent scrapping of the Severn Bridge Tolls and the electrification of the South Wales Rail line improving links with London Paddington can only serve to increase property demand and only drive up market values.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nDaniel Hopkins provides property market intelligence for Cardiff\u2019s estate agents\u00a0and stresses the problems posed for first-time buyers.<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cI believe Cardiff property prices will continue to grow about the national average for a few more years but I cannot see it continuing to sustain the 7% annual growth.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n\u201cIt is incredibly difficult for first time buyers to get their foot on the ladder in Cardiff and I see that a lot of these people will have no option but to buy in the districts just outside of Cardiff \u2013 Caerphilly, Pontypridd and so forth,\u201d he said. \ufffc<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\n<b>The data\u00a0<\/b><span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nThe LRA data doesn\u2019t hold exact figures for specific\u00a0wards,\u00a0but\u00a0gives a general picture by post-code.\u00a0<span data-ccp-props=\"{}\">\u00a0<\/span><br \/>\nThe numbers can also be skewed by the number of houses sold in one year, but the general picture is a clear upward trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HOUSE\u00a0prices in Cardiff have soared 240% in two decades, outstripping the average rate of inflation by 167%.\u00a0\u00a0 Latest figures from The Land Registry Authority show the average sale of a house has nearly quadrupled in some areas of Cardiff.\u00a0\u00a0 Rumney and\u00a0Llanrumney\u00a0has seen its house sales increase\u00a0by 258%. The average sale in 1998 was \u00a358,115\u00a0but a home would now set you back \u00a3208,805.\u00a0\u00a0 Rumney\u00a0councillor Bob Derbyshire attributes the rise to Margret Thatcher\u2019s\u00a01980s\u00a0right-to-buy\u00a0scheme, which let council house tenants buy their homes for [&hellip;]<\/p>\n","protected":false},"author":125,"featured_media":32312,"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":[3,522],"tags":[2149,97,6350,1073],"coauthors":[],"class_list":["post-32304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-rumney","tag-house-prices","tag-llanrumney","tag-lra","tag-rumney"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cardiff house prices soar 240% in two decades - The Cardiffian<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/2019\/02\/12\/cardiff-house-prices-soar-240-in-two-decades\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardiff house prices soar 240% in two decades - The Cardiffian\" \/>\n<meta property=\"og:description\" content=\"HOUSE\u00a0prices in Cardiff have soared 240% in two decades, outstripping the average rate of inflation by 167%.\u00a0\u00a0 Latest figures from The Land Registry Authority show the average sale of a house has nearly quadrupled in some areas of Cardiff.\u00a0\u00a0 Rumney and\u00a0Llanrumney\u00a0has seen its house sales increase\u00a0by 258%. The average sale in 1998 was \u00a358,115\u00a0but a home would now set you back \u00a3208,805.\u00a0\u00a0 Rumney\u00a0councillor Bob Derbyshire attributes the rise to Margret Thatcher\u2019s\u00a01980s\u00a0right-to-buy\u00a0scheme, which let council house tenants buy their homes for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/2019\/02\/12\/cardiff-house-prices-soar-240-in-two-decades\/\" \/>\n<meta property=\"og:site_name\" content=\"The Cardiffian\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-12T14:54:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/wp-content\/uploads\/sites\/9\/2019\/02\/House-price-e1549981254514-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1920\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Jones\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Jones\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/2019\/02\/12\/cardiff-house-prices-soar-240-in-two-decades\/\",\"url\":\"https:\/\/cardiffjournalism.co.uk\/thecardiffian\/2019\/02\/12\/cardiff-house-prices-soar-240-in-two-decades\/\",\"name\":\"Cardiff house prices soar 240% in two decades - 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