There's a new hotspot in Wales according to the latest ONS house price figures!
West Wales average house price increase is still the region's highest. The latest house price index released by the Office of National Statistics (ONS) - a year-on-year comparison to November 2021 - indicates that the average house price in Wales has increased by 12.1% to £199,877.
The next UK regions to see the highest year-on-year growth to November 2021 is Scotland, Northern Ireland and England, with an 11.4% increase to an average asking price of £183,000, 10.7% growth to £159,000 and a 9.8% growth to £288,000 respectively. London continues to be the region with the lowest annual growth rate, at 5.1%.
At a UK level there is still an overall upward monthly trend in average house price growth, which increased by 10.0% over the year to November 2021, up from 9.8% in October 2021.
The average UK house price was £271,000 in November 2021, which is £25,000 higher than this time last year. The Wales average house price, according to the latest ONS figures, is £199,877.
But the regional breakdown in Wales indicates one county that has shot to the top of the growth list, Ceredigion!
IT is the latest region of Wales to show the highest growth in annual average house prices, a 24.6% increase. The average house price in this coastal county is, according to the ONS, £247,529.
Nigel Salmon, Director of Fine & Country in west Wales, who specialises in Ceredigion area, agrees with the growth figures, which he says climbed steadily in 2021.
He says: "It is coinciding with people becoming more adventurous in where they were prepared to buy and discovering the wild and wonderful area of Ceredigion where my family and I have lived for 20 years.
"Smallholdings, country houses and lovely cottages are all in abundance in the area and with people reassessing their lives during the pandemic geography was more academic for mobile buyers from around the country."
"I feel it's part of my job to show the area as much as the properties and people see the value of living, working and playing in this county. I am optimistic for 2022 and beyond and can only see the market continuing to be strong in this area."
The county offers a scenic coastline that stretches along Cardigan Bay and includes some pretty seaside spots such as Aberaeron, a rural landscape that includes rolling hilltops and wooded valleys, and thriving towns such as Lampeter and Aberystwyth.
In addition to the breathtaking and community-centric locations, the region can offer a huge range of properties, from bargain renovation projects to some of the finest homes in Wales.
Here's what you can currently buy in the county of Ceredigion, but you might have to be quick to secure one as the area now become Wales' hottest property spot.
Be your own lord or lady of the manor in the county too and at a lower purchase price than a few million, at the Grade II* listed Trawsgoed Mansion.
To be exact, It is actually a semi-detached house - and a very grand one at that! It is located in the principal wing of a once majestic estate known as Crosswood Park.
Owning a slice of Welsh history is on offer with past famous guests to the impressive house including Kings Edward VII and Edward VIII, and prime ministers Sir Winston Churchill, Stanley Baldwin and William Gladstone.
There are stunning original period features to adore and potential to bring your own style to this substantial 10-bed half of this wonderful, historic house too.
Contact Fine and Country West Wales on 01974 299055 to find out more about this home for sale for offers in the region of £750,000.