Darlows, which is part of the UK’s largest independent estate agency group, compiled the survey using statistics from 13 branches in South Wales, including five in Cardiff and others in Brynmawr, Caerphilly, Cwmbran, Merthyr Tydfil, Newport, Pontypool, Pontypridd and Tonypandy.
In Cardiff, the average sold price increased by ten per cent from £146,908 to £161,750 showing a strengthening of the urban market. However, outside of the capital, the average sold price fell by 2.4 per cent from £122,831 to £119,925.
Thomas Ross-Bason, Sales Director of Darlows, said: “Despite the end of the stamp duty tax break, sellers are now coming back and properties are selling faster. The new statistics also show we are selling properties within a much shorter scale, showing the pace is starting to speed up in the South Wales market.
“In terms of the city market, it is maintaining momentum and we expect the regional market to catch up over the next few months. Cardiff has always been a litmus test of what the wider property market will do and we are confident that the regions will lift in due course.”
Have your say on this story using the comment section below.