Flintshire has emerged as a hotspot for property price increases, significantly outpacing both the regional and national averages in February.

Flintshire’s house prices saw a robust growth of 1.4% in February, a rate that surpasses the average growth across Wales, which was just 0.4% during the same period. This increase in Flintshire is also higher than the UK’s overall growth rate of 0.4%. Over the last year, Flintshire has witnessed a cumulative growth of 2.8% in property prices, raising the average house price to £221,426. This growth ranks Flintshire second among Wales’s 22 local authorities for annual price increases.

Regional Comparisons – Flintshire vs. Wales

The price of properties in Flintshire not only grew faster than the Welsh average but also exceeded the typical price across Wales. In February, Flintshire homes were priced at about 5.1% more than the Welsh average of £211,000. This puts Flintshire properties in a pricier bracket compared to much of Wales but still below the UK average of £281,000.

Ceredigion reported the highest annual growth in the region, with an increase of 3.5%, while Newport experienced a significant drop, with prices falling by 7.5%.

Property Types and Their Performance

The different types of properties in Flintshire have shown varied performance:

• Semi-Detached Homes: These homes saw the highest rise in February with a price increase of 1.5%, bringing the average price to £193,209. Annually, these homes appreciated by 3.3%.
• Detached Homes: Prices increased by 1.3% over the month and 3% over the year, reaching an average of £307,960.
• Terraced Homes: These properties experienced a monthly increase of 1.2% and an annual growth of 1.9%, with an average price of £156,151.
• Flats: Prices for flats rose by 1.2% in February and saw a modest annual increase of 0.8%, with an average price standing at £107,303.

First-Time Buyers and Market Entry

Entering the property market has become increasingly challenging for first-time buyers in Flintshire. On average, they spent £187,000 on their first home, which is £5,200 more than the previous year. This figure is significantly lower than what former homeowners are paying for properties, which averaged £247,500 in February, showing a stark 32.4% price gap between the two groups.

Monmouthshire recorded the most expensive average property prices in Wales at £333,000, significantly higher than Flintshire. In contrast, properties in Blaenau Gwent are far more affordable, with an average price of £127,000.