Wales ''escaping property price downturn''
Wed 23rd Jan, 17:03:17 GMT
The Welsh property market is not experiencing the same property market downturn as the rest of the UK, estate agents have said.
Mark Jones, broker owner of Remax Wales, Cheshire & Merseyside, explained that while the UK as a whole is expected to see house price growth slow this year, Wales is yet to see any sign of a cool down.
"We generally find ourselves about five years behind the London and England scene," he explained.
Figures released by the Halifax earlier this week revealed that house prices in the country rose by 0.9 per cent in the last three months of 2007 at the same time as the price of the average home in the UK fell by 0.8 per cent.
Mr Jones pointed out that first-time buyers are in a strong position to buy in Wales, with three-bedroom terraced houses on the market for less than £100,000 in some areas.
While he described Cardiff as "a bit overpriced", Mr Jones suggested that Swansea and Neath are good areas for buyers to invest in.
Mark Jones, broker owner of Remax Wales, Cheshire & Merseyside, explained that while the UK as a whole is expected to see house price growth slow this year, Wales is yet to see any sign of a cool down.
"We generally find ourselves about five years behind the London and England scene," he explained.
Figures released by the Halifax earlier this week revealed that house prices in the country rose by 0.9 per cent in the last three months of 2007 at the same time as the price of the average home in the UK fell by 0.8 per cent.
Mr Jones pointed out that first-time buyers are in a strong position to buy in Wales, with three-bedroom terraced houses on the market for less than £100,000 in some areas.
While he described Cardiff as "a bit overpriced", Mr Jones suggested that Swansea and Neath are good areas for buyers to invest in.
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