Welsh property sales double
Monday, 20 Apr 2009 15:37
According to one Welsh estate agency twice as many properties have been sold in March compared to the start of the year.
Darlow's Welsh Property Index found the number of properties sold in 15 branches across Wales had increased by 46 per cent, with prices rising to an average £122,177, compared with £106,245 in January 2009.
The total number of listings increased by 29 per cent in March 2009 from the beginning of the year, with the Cardiff branches seeing their listings increase by 16 per cent, and the regional branches seeing a huge 38 per cent increase.
Thomas Ross-Bason, sales director of Darlows, said: "These figures are extremely encouraging and show the start of the upturn in the market. For example, the number of first-time buyer purchases is up 137 per cent across our Wales branches – an increase by a huge 450 per cent in Cardiff and 33 per cent in the regional branches.
"Properties are taking longer to sell but it is evident that, as a company, we are selling more and prices are edging up. This is a strong indicator for the rest of the property industry in Wales."