The Cwmbran Property Market continues to disregard the end of the world prophecies of a post Brexit fallout with a return to business as usual after the summer break.
The challenge every Cwmbran property buyer has faced over the last few years is a lack of choice – there simply hasn’t been much to choose from when buying (be it for investment or owner occupation). Levels are still well down on what would be considered healthy levels from earlier in this decade, as there is still a substantial demand/supply imbalance. Until we start to see consistent and steady increases in properties coming on to the market in Cwmbran, the market is likely to see upward pressure on property values continue.
For example, in the last few months NP44 has seen an average of 90 new properties coming on to the market, not bad when you consider for the last year the average was in the 50-60 range at one stage. With the average Cwmbran property value hitting a record high, reaching almost £150,250 according to my research, this shortage of properties on the market over the last two years has contributed to this ‘fuller’ average property figure.
As I write this article, 2.0% of Cwmbran properties are up for sale. In terms of actual chimney pots, that equates to 291 properties on the market in Cwmbran (within 2 miles of the centre of Cwmbran) – which, when compared to only a year ago when that figure stood at 336, is a slight decrease in the number of properties available to buy. Split down into the type of property, it makes even more fascinating reading…
- Detached Properties in Cwmbran – 104 on the market a year ago compared to 94 on the market now – a decrease of 10%
- Semi Detached Properties in Cwmbran – 101 on the market a year ago compared to 77 on the market now – a decrease of 24%
- Terraced Properties in Cwmbran – 97 on the market a year ago compared to 88 on the market now – a decrease of 9%
- Flats / Apartments Properties in Cwmbran – 26 on the market a year ago compared to 28 on the market now – an increase of 8%
This is evidence of strength in the Cwmbran housing market that many didn’t expect. Many believed that the Cwmbran property market wasn’t going to be strong enough post Brexit – as what was a sellers’ market before the Brexit vote and Buyers’ market in the early months after it, may now be somewhere in between and the market might just be coming back into balance.
However, all this will mean property values won’t continue to grow at the same extent they have been over the last 12 to 18 months, and in some months (especially on the run up to Christmas and early in the New Year), values might dip slightly. This won’t be down to Brexit but a re-balancing of the Cwmbran Property Market – which is good news for everyone.
For more thoughts on the Cwmbran Property Market, please visit the Cwmbran Property