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14 October 2020

House Prices on Outskirts of Cardiff Amongst Fastest Growing Across the UK


Barclays Mortgages has unveiled its latest Postcode Property Index, ¹ powered by Hometrack data, revealing the postcodes in UK towns and cities that have seen the fastest house price growth over the past year.

Cardiff’s CF3 postcode – covering the Llanrumney, Marshfield and Cefn Mably area – tops the list in Wales, having seen a 3.9 per cent increase in house prices over the last twelve months.

This comes as a third of Brits look to move to more rural areas as a result of lockdown (32 per cent). Average house prices in CF3 are now sitting at £208,654, which is now approximately £9,000 below the national average of £217,600. ²

The Postcode Property Index, which is based on data sourced by Barclays Mortgages from property analysts Hometrack, identifies the postcodes across the UK’s biggest cities where house prices are thriving.

In addition to CF3, areas that have seen a significant increase in house prices year-on-year include WV2 in Wolverhampton where property prices have grown 4.5 per cent in the last year. This is a massive 1.6 per cent more than the rest of the city, meaning properties with WV2 postcodes are now, on average, worth £2,691 more than those elsewhere in Wolverhampton.

Similarly, properties in Liverpool’s L4 postcode covering the Anfield area have jumped 4.4 per cent in the last year, a whole percentage point more than the rest of Liverpool.

Lee Chiswell, Director of Barclays Mortgages said:

“The Postcode Property Index has highlighted the specific areas where house prices are on the up in towns and cities across the UK. This level of detail into how local neighbourhoods compare to others within their home city, can be immensely useful to those looking to buy and sell in the current climate as it shines a light on those neighbourhoods which really stand out.”

WV2 (Wolverhampton), L4 (Anfield, Liverpool) and CF3 (outer districts of Cardiff) have all seen a vast amount of redevelopment and new homes being built in recent years. While new homes and redevelopments may be a draw for some, residents of Cardiff have also benefitted from a cheaper commute to England’s South-West since the Severn Bridge toll was scrapped in December 2018.

Lee Chiswell continues:

“We understand that the pandemic added fresh challenges to the process of buying and selling property, and we hope the Postcode Property index will help inform those looking to move; to help them better understand the regional price fluctuations in their local area.”

Barclays Mortgages Postcode Property Index:

Region Postcode with fastest growing house prices Postcode towns/areas Average house price in Aug 2019 Average house price in Aug 2020

 

Postcode Percentage growth in last 12 months Average percentage growth for the city in last 12 months
North West OL8 Bardsley, Oldham £167,766 £174,835 5.7% 4.2%
West Midlands WV2 Wolverhampton £163,423 £168,225 4.5% 2.9%
North West L4 Anfield £119,278 £123,300 4.4% 3.4%
South Wales CF3 Llanrumney, Marshfield,
Cefn Mably
£202,262 £208,654 3.9% 3.2%
West Yorkshire LS9 Burmantofts, Richmond Hill £164,212 £170,657 3.8% 3.9%
East Midlands NG6 Bestwood Village, Bulwell £151,929 £159,070 3.5% 4.7%
Greater London CR8 Purley, South Croydon, Caterham £466,138 £475,980 3.3% 2.1%
South Yorkshire S14 Gleadless Valley £135,436 £139,453 3.2% 3.0%
South West BS5 Easton, Redfield, Barton Hill £272,782 £280,568 3.2% 2.9%
North East SR6 Peterlee £124,431 £137,468 3.1% 2.0%
East Scotland EH1 Edinburgh Old Town £221,372 £229,529 3.1% 3.7%
Northern Ireland BT2 Belfast City Centre £134,160 £137,468 3.1% 2.5%
East Midlands LE1 Leicester City Centre £177,427 £183,813 2.9% 3.6%
South England PO14 Fareham, Titchfield £230,356 £236,255 2.5% 2.6%
West Scotland G76 Clarkston, Eaglesham £116,676 £119,058 2.4% 2.0%

 



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