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Anglesey sees house prices rise PS8,000 in a year; Homes values are also up 5% in Flintshire as demand rises.

Byline: OWEN HUGHES

HOUSE prices on Anglesey have surged PS8,000 over the last year while Flintshire has seen average homes increase by PS6,000 in 12 months.

The average sale price of a home on the island now stands at PS132,537 a 6.3% rise on the same period last year.

This now makes Anglesey the most expensive place to buy a home in North Wales - moving narrowly ahead of Gwynedd.

Property hotspots on the island include the seaside resorts of Rhosneigr and Trearddur Bay.

Land Registry figures also showed that average prices in Flintshire were now PS126,699 - a 5% increase on last year.

Denbighshire also saw prices increase by 2.9% to reach an average of PS115,164.

The average increase in Wales was 3.4% with the average home now PS118,814.

Gwynedd and Wrexham saw a slight decline in prices of 0.7%. The average home in Gwynedd is now selling for PS132,407 while in Flintshire it is PS126,699.

Conwy saw prices down 0.6% to an average of 127,015.

The Land Registry said the average house price in England and Wales was now PS177,824 compared with the peak of PS181,383 in November 2007.

Over the last year, prices had risen by 21.6% in London.

The slowest rate of increase was 3% in the North East of England.

The number of properties sold in England and Wales for over PS1 million in June 2014 increased by 34% to 1,135 from 848 in June 2013.

As market activity has picked up, the number of house sales taking place is up by a fifth compared with 2013.

Between March and June this year, 71,426 sales a month took place typically, the Land Registry said. This is a 20% increase compared with the same period a year earlier.

The figures were released as property analyst Hometrack predicted that activity is likely to fall back in the coming months amid signs of fewer new buyers registering with estate agents.

Earlier this month surveyor group RICS said in Wales sales expectations continue to remain upbeat with a net balance of 26% of surveyors expecting sales growth throughout the next three months, and the overall picture shows a return to a less volatile market, with more stable price expectations over the next three months. A net balance of 11% of surveyors are now expecting prices to rise in Wales , rather than fall - down from 39% in March this year.

On balance, members are indicating that the Mortgage Market Review (MMR) - and an increasingly acute shortage of conveyancers - is adding between 2-4 weeks onto the time it takes to complete a deal.

Tony Filice RICS Spokesperson for RICS Wales Residential, said: "Wales remains upbeat with the housing market for the next three months, despite concerns of a possible interest rate rise at the end of the year.

"Transactions are taking longer to conclude with the impact of the Mortgage Market Review (MMR) for borrowers, shortage of conveyancers and Chartered Surveyors, but momentum is still strong and positive."

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Title Annotation:News; Teasers
Publication:Daily Post (Conwy, Wales)
Geographic Code:4EUUK
Date:Sep 27, 2014
Words:514
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