Houses Move Fast In Bridgend
22nd December 2020 posted in Sellers Buyers
Houses are moving fast across the United Kingdom, and it is pleasing to see homes in Wales are selling just as quickly as their counterparts in England or Scotland.
At Hunters Bridgend, we take special pleasure in Bridgend being listed as the second fast location on the UK housing market. In just 24 days after being listed, offers are being accepted in this part of Wales.
Bridgend has a lot to offer
The affordable nature of homes in the area is a massive reason why the Bridgend housing market is flourishing right now.
Kate Morgan, spoke to local media in Wales, and said; “We have seen tremendous activity in the Bridgend market in the second half of 2020. Purchasers have realised that proximity to the city centres is less important and that working from home is a viable alternative. Purchasers have taken advantage of Bridgend being equidistant between both Cardiff and Swansea, whilst also offering access to many wonderful parks and stunning beaches including Rest Bay Beach in Porthcawl which has been granted a Blue Flag award.”
Kate continued by saying; “The lower average prices in the county compared with neighbouring counties mean a buyer’s pound goes further without sacrificing on lifestyle along with recent land transaction tax (LTT) relief being another incentive to purchase. All of which have resulted in new bars and restaurants opening in town centres to accommodate the increase in population.”
Given everything Bridgend has to offer, and the value for money in property here, we shouldn’t be surprised that many people are flocking to the local housing market.
Remote working opportunities is shifting demand in housing market
With remote working likely to become a common feature as we move forward, there will be greater freedom for people to decide where to live. This means a location such as Bridgend becomes more appealing to more people.
There has always been a functionality to Bridgend, given its location between Cardiff and Swansea, but now, there are even more reasons to enjoy life in this area.
At the end of November 2020, Rightmove said the following regarding house prices in Bridgend; “Properties in Bridgend had an overall average price of £181,354 over the last year. The majority of sales in Bridgend during the last year were semi-detached properties, selling for an average price of £168,528. Detached properties sold for an average of £252,582, with terraced properties fetching £132,576. Overall, sold prices in Bridgend over the last year were 6% up on the previous year and 10% up on the 2017 peak of £164,322.”
What are the fastest-selling property types?
Given people are looking to enjoy more space at home, it shouldn’t be a surprise that the fastest selling property type are three-bedroom semi-detached homes. This style of home provides ample room for many families, and there is a sense of space in and around these properties.
This property type was the fastest selling type in 12 of the top 20 fastest moving markets, so there is clearly high demand for these homes.
The next fastest moving property type is a two-bedroom terraced home. This was the fastest moving property type in five of the 12 locations.
At Hunters Bridgend, we are proud to play a part in supporting a thriving and friendly local community. If you would like information or guidance on how we can assist you, or you just want to stay in touch with the latest housing industry news, please contact us today.