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Vale has most expensive new homes, study says

Friday, 23 August 2024 13:51

By Ted Peskett - Local Democracy Reporter X @TedPeskettNews

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The Vale of Glamorgan has the most expensive new housing in Wales, according to a recent study.

An insurance firm, which analysed data from the Office of National Statistics, also found newly-built homes in neighbouring Cardiff were the most affordable across Wales.

The capital city had the lowest median new housing price at £155,548 while the Vale had the highest at £441,000.

There is a high demand for new homes across the region - and both Cardiff and the Vale, as with many areas across the UK, have high numbers of people on the council housing waiting list.

It was reported in May that there were 122 families living in hotels in Cardiff and 595 families in standard temporary provision.

Cardiff Council’s housing development programme has capacity to deliver 4,000 new homes for the city - and at least 2,700 of which will be council homes.

The council also announced in June 2023 that it will pursue a future development plan that could mean the construction of 26,400 homes in the city over the next 13 years.

However, the need for homes in the short term is great, with about 9,000 people currently on the city council’s housing waiting list.

A Vale Council report published in February stated there were more than 6,200 people on their waiting list for housing.

It also showed 19% of those on the list were in the highest need categories, included people fleeing domestic abuse and those with a life-threatening or life-limiting medical condition.

Vale Council’s operational manager for public housing services, Nick Jones, told members of a council scrutiny committee in February that there were record numbers of people people seeking help from the council with housing.

At that time, the local authority said it was seeking to continue its use of the Rhoose Holiday Inn Express to house people for another year.

As part of its preferred strategy for future development, the county council estimates that it will need to build 7,890 homes across the Vale by 2036.

In One Sure Insurance’s study, Cardiff was followed by Swansea, Carmarthenshire and Pembrokeshire as the local authority areas with the lowest median new housing prices.

According to the ONS data, Swansea had a median new housing price of £185,000, followed by £225,000 in Carmarthenshire and £240,000 in Pembrokeshire.

In terms of the areas with the highest median new housing prices, the Vale of Glamorgan was followed by Newport (£379,995), Conwy (£371,250) and Monmouthshire (£348,248).

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