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New data from the UK’s biggest property website Rightmove reveals that Mountain Ash is this year’s property price hotspot, with average asking prices in the area jumping by 31% this year.
The average price for a home this year in Mountain Ash is £137,220, compared to £104,431 a year ago. Porth, also in Rhondda Cynon Taf is second on this year’s price hotspot list, where asking prices have risen by 26%.
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Wales tops the tables as this year’s regional price hotspot with average asking prices up 10.5% in Wales compared to last year.
A combination of sustained high demand, and shortage of properties for sale this year, has meant competition between buyers for the properties available has risen by more than a third during 2021 (36%).
Demand is set to continue to be high into 2022, and with every region hitting record price growth this year and seven in ten homes for sale on Rightmove finding a buyer, it may signal an opportunity for those considering a move in the new year to get the most for their property.
Tim Bannister, Rightmove’s Director of Property Data comments: “This year has seen significant growth in average asking prices across so many areas of Great Britain. Strong competition for available properties, driven by low stock and high demand, has propped up asking prices throughout the year, and agents report that having multiple bidders for available properties will continue to be a theme into at least the first half of next year, although we do expect a better balance of supply and demand during the course of 2022, and some fresh property choice for buyers.
With so many areas reaching asking price records, homeowners might be thinking that the new year is the time to take action and move, and maximise the return for their property. We’re expecting a wave of new buyers early in the new year, so we’d recommend this group who might be considering coming to market speak to their local agent for advice on making a new year move.”
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