House prices in Wales increased by 0.47 per cent over the past three months – showing the triggering of Article 50 in April this year had little effect on the property market.
The statistics, from UK-wide online property portal Zoopla, revealed the average property in Wales was worth £179,354. The data also confirmed what many estate agents and property experts have been saying since the Brexit referendum result back in 2016 – that UK property prices will continue to rise.
Market conditions means property remains a safe bet
The reason for this is the simple market analogy of demand versus supply. In other words, there are far more people looking to buy a house or flat in South West Wales and throughout the UK than there are properties.
Another reason why the UK property market will continue to tick over regardless of Brexit is that people tend to move home, not on a whim, but because they need to, for example job relocation, to be nearer family or because they plan to increase the size of their family. The idea that no-one is buying or selling because they’re all waiting to see what happens to the property market when the UK finally leaves the European Union, is not realistic.
And anyway, no-one knows how Brexit will pan out – whether the UK will be a richer or poorer nation as a result. If you have been planning to move house for some time now then, as far as we’re concerned here at Mallard Properties, it really doesn’t make sense to wait.
“Many people may be put off buying or selling in Wales because of what’s happening in London, where luxury properties are falling in value,” said Mallard Properties Director Jason Williams.
“But that’s in a market where prices were already over-inflated and anyhow, it’s not Brexit that has resulted in fewer interested buyers, but rather the increased stamp duty which, of course, will be huge on a £1m+ property. Huge stamp duty taxes are simply not the case here in South West Wales.”
How we know the South West Wales property market is alive and kicking
Our own Mallard Properties website backs up the optimism for the Welsh property market, and the expertise and professionalism of our own sales teams in particular. That’s because our website has experienced a huge 62.7 per cent increase in visitors over the past year through June, compared to the same period last year. Of that figure, 17.5 per cent were new visitors. In other words, people in South West Wales still want to buy and sell property – and happily, they’re doing so via ourselves.
Mr Williams adds, “Our staff here at Mallard really know how to look after our customers. Whilst the increase in business and visitors to our website is partly down to the marketplace, it is also a testament to the great work we do in ensuring when someone lists a property with us, we market the properties well and do everything we can to get our customers a good price.”
So, if you’re looking to buy or sell a property in the region – and Llanelli or Ammanford, in particular – then do get in touch with us via our website www.mallard-properties.co.uk or tel: 01554 777077 (Llanelli) 01269 597949 (Ammanford). We look forward to your call!