Property analyst JLL has just published its South Wales Report 2016, reviewing the region’s property market last year and forecasting its performance in the months ahead and beyond.
The report notes Land Registry data showing house prices in Wales rising by 3.7% in the year to November 2015, behind England’s 5.6%, leaving the average price in the principality at £122,433. In the new build sector, the Department of Communities and Local Government’s latest figures showed a 6.2% year-on-year increase in new homes completed to the end of June 2015 at 6,330, but still some 30% below the 2006/7. Starts were up 19.4% from the previous year, at 7,070, but 25% down on 2006/7.
Applauding the start of several “much-needed” large schemes last year, the report is optimistic of a modest rise in Welsh house prices in the medium term: “We anticipate a continuation of the improvement in the residential market in the next five years with house price growth in Wales in the range of 2.0% to 4.0% per annum. We are expecting the rate of house price growth to peak in 2016 and then ease gradually over the next five years, in part due to growing affordability issues.”
“Residential development in South Wales continues to be dominated by the big five (Taylor Wimpey, Persimmon, Redrow, Barratt and Bellway), although mid-sized developers in South Wales are increasingly active and seeking to increase their geographical coverage outside of their local areas.”
Here, we take a look at a range of new homes now for sale from large and small housebuilders across Wales:
Chapters in Dinas Powys, Vale of Glamorgan (Waterstone Homes)
Building works have started on this development of 12 homes, properties which offer a traditional look, but with a design enhanced by a glass curtain wall which spans vertically over three floors, offering a thoroughly modern interior layout. Sizeable plots and ample parking are common to all the homes here.
Sitting just four miles south-west of Cardiff, Dinas Powys is a popular commuter village with easy access to the link road into the city centre or up to the M4, as well as two train stations. This rural and location houses a small range of independent shops, three pubs and several restaurants. A Post Office, pharmacy, doctors surgery and vets are also conveniently located in the village.
The company is offering its Fairplay scheme on certain plots at Chapters. This works in a similar way to part exchange, but is only available at the very early stage of construction. The company gets an independent agent to value your home and will either try to beat this value on the open market or take your home for the agreed price.
Prices: From £694,995
Find out more at waterstonehomes.com ; 01656 644440
Gwel y Mynydd in Llandudno Junction, Conwy (Beech Developments)
Gwel Y Mynydd Phase 3 is an extension to the popular Gwel Y Mynydd development on the edge of Llandudno Junction, which offers its residents stunning views over to Tal Y Fan and the Snowdonia mountain range. These modern, sustainable homes offer open-plan living and family friendly interiors. The development is sure to offer something for many house-hunters, with its mix of two-, three- and four-bedroom house types.
Gwel Y Mynydd is within easy reach of a wide range of amenities including shops and schools. There are good links to the local historical town of Conwy, Llandudno as well as Chester via the A55.
Prices: From £123,950
Find out more at beech-developments.co.uk ; 01492 583577
Mallards Reach in Porthcawl, Bridgend (Bellway Homes)
Only 14 homes remain at Mallards Reach in Porthcawl, where Bellway is building a selection of three and four-bedroom family homes. Sales director for Bellway Wales, Billie Oaten, says: “Mallards Reach is perfectly suited to families and first-time buyers thanks to its proximity to excellent schools, transport links and the coast.
“We have a selection of four-bedroom homes left at the development, which are proving to be popular with families, and there’s a real community spirit here too since our newest residents moved in. Many of our buyers here have taken advantage of the Help to Buy Wales scheme to purchase their new home and we’re expecting strong interest in remaining homes.
“We urge anybody thinking of moving to the development to act quickly to avoid missing out.”
Prices: From £214,995
Find out more at www.bellway.co.uk
Tregwilym Gate in Rogerstone, Newport (Taylor Wimpey)
There’s a choice of family homes at this development, and the housebuilder is offering its easymover initiative and the Help to Buy Wales scheme to assist house-hunters in their purchase.
Sara Taylor, sales and marketing director for Taylor Wimpey South Wales, says: “With stylish designs which make fantastic use of space and light and are perfectly suited to today’s family lifestyles, it’s easy to see why the four-bedroom homes at Tregwilym Gate are proving incredibly attractive to discerning buyers.
“Potential purchasers can get a good idea of the spacious and carefully-planned layout of a property at Tregwilym Gate by taking a tour of the ‘Midford’ which is now available to view.”
The development is open daily from 10.00am to 5.00pm.
Find out more at www.taylorwimpey.co.uk ; 0292 053 4767
The Mill in Canton, Cardiff (Lovell/Tirion Group)
This landmark development – where the first homes will be available from 2017 – will provide 800 high-quality one- and two-bedroom apartments and two-, three- and four-bedroom homes in a riverside location to the west of the city.
Homebuyers interested in this scheme are invited to register their interest now. “If you’re a first-time buyer, this is also the perfect time to start saving for your deposit through a Help to Buy ISA – and benefit from an extra 25 per cent on top of your savings from the government,” says Lovell sales manager Julie Bowen.
The Mill will create a £100m new urban village at the 53-acre former Arjo Wiggins Paper Mill site. Around half of the 800 brand-new properties at The Mill will be affordable homes.
Find out more at www.lovellnewhomes.co.uk ; 02920 606766