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  1. ITV Report

Welsh housing market on the up despite recent dip

Credit: Ben Birchall/PA Archive/PA Images

The latest RICS (Royal Institution of Chartered Surveyors) Residential Market Survey suggests the unseasonably bad weather affected activity in the Welsh housing market in March. The number of newly agreed sales was lower than in the previous month.

But it says the overall trend of the housing market in Wales was upwards in the first quarter of the year, with prices and sales rising above the UK average rate. Expectations for both prices and sales activity remain relatively strong.

Overall, the first quarter of the year was a relatively busy one, albeit that the weather had some impact on activity in early March. In our experience, though, the two weeks prior to Easter saw a pickup in activity, with a higher level of viewings and offers received.

Looking ahead, the expectation is that sales will increase between April and June, however, it remains to be seen what impact if any the replacement of Stamp Duty with the Land Transaction Tax will have on activity in some parts of the market.

– Tony Filice FRICS, RICS Residential Spokesperson for Wales