Data from SmartNewHomes.com, the UK’s leading new homes website, shows that the number of people searching for new homes in the Cardiff area is increasing, up by almost one fifth (18.9%) over the last month alone.
Moving In
SmartNewHomes.com uses registrations and searches on its website to calculate homebuyers’ migration across the UK. Last month’s figures revealed that Wales had the third highest positive migration figure in the country with 1.63% more homebuyers looking to move into the area. [see chart 1]
Development fuelling price rises
The average price of a new home in Cardiff is now £222,082 – 8% lower than the national average of £278,140, making Cardiff an attractive option for both owner-occupiers and investors.
New home prices in Cardiff and Wales have risen with the redevelopment of Cardiff Bay and an increasing number of new leisure facilities in the city.
Sports, music and leisure
The second bridge crossing the River Severn has made access to Wales and Cardiff easier since it opened in 1996. In addition, the completion of the 72,000-seater Millennium Stadium in 1999 has meant that Cardiff has been home to the UK’s top sporting fixtures in the last few years, including FA Cup finals and Six Nations rugby internationals, as well as numerous pop and music concerts by performers such as Robbie Williams and the Stereophonics.
Those visiting the city for these events can’t miss its wealth of bars, shops, hotels and restaurants, contained in a compact and convenient centre overlooked by the enchanting Cardiff Castle, containing nearly 2,000 years of history stretching back to its Roman conception. Bordering the edges of the city lies the peaceful beauty of Bute Park accompanied by the River Taff, and the redeveloped old docks, providing a stunning waterside location of leisure and cultural locations.
New homes schemes
Developments such as Bryant Homes’ Victoria Wharf in Cardiff Bay, offers one bedroom apartments from £136,000 while stylish schemes such as George Wimpey’s Lock Keeper’s Court reflect cutting edge style with a central location. Two bedroom apartments here start at £169,995.
David Bexon, Chief Executive of SmartNewHomes.com, said: “Cardiff has seen a massive upturn in popularity over the last ten years, with the Millennium Stadium, Cardiff Bay redevelopment and rejuvenated entertainment and leisure facilities pulling in tourists from across the world as well as weekend-trippers from the UK. The effects are also being seen in the housing market. Cardiff is a good place to relocate to and is proving attractive to younger generations and graduates.”
