Welsh house prices rise

Welsh house prices rose by half a percent month-on-month in November, as the demand continues to outstrip the supply of homes for sale.

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Housing supply not meeting demand

House prices in Wales rose by 0.5% month-on-month in November. Widened mortgage availability is said to be fuelling the demand but experts say a lack of housing is also pushing prices up.

A widening gap between supply and demand continues to put upward pressure on house prices. Faster sales are eroding the stock of homes for sale, adding to the scarcity of housing

– Richard Donnell, Director of Research, Hometrack

Welsh house prices increasing

House prices in Wales increased by 0.5% Credit: PA

Welsh house prices rose by half a percent month-on-month in November, as the demand continues to outstrip the supply of homes for sale.

But, in a sign that suggests prices are starting to run ahead of what buyers are willing to pay, the typical percentage of the asking price achieved dipped in November to 95% from a six year high of 92.5%.

It's the first time in 11 months that the percentage of the asking price has fallen.

Mortgage availability is said to be fuelling the demand from aspiring property buyers, but experts say a lack of houses to choose from is pushing prices up.

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