June saw an impressive 2.3% jump in property values in the Gwynedd area, outstripping the Welsh average of a 0.3% increase. This means Gwynedd also beat the UK’s overall growth of 0.5%!

Over the past year, Gwynedd house prices have risen by a healthy 1.5%, adding an extra £2,900 to the average property value. This places Gwynedd 11th out of 22 local authorities in Wales for annual growth.

What does this mean for buyers and sellers?

The average house price in Gwynedd now sits at £195,807. This is still a good deal cheaper than the Welsh average of £216,000, and significantly more affordable than the UK average of £288,000.

Here’s a breakdown of the average house prices:

• Gwynedd: £195,807
• Wales: £215,518
• UK: £287,924

If you’re a first-time buyer in Gwynedd, expect to pay around £172,200 for your first home. While that’s £3,400 more than a year ago, it’s still significantly less than the £222,600 former owner-occupiers are paying.

Looking for the biggest price jump?

Terraced houses in Gwynedd saw the most significant monthly increase in June, with prices climbing by 2.8% to an average of £153,917. This type of property has also shown strong annual growth, with prices rising by 2.6%.

Here’s a look at how other property types are performing:

• Detached: Up 1.6% monthly; down 0.4% annually; average price £281,189
• Semi-detached: Up 2.1% monthly; up 2.4% annually; average price £200,182
• Flats: Up 1.9% monthly; down 0.4% annually; average price £115,757

What does the future hold for Gwynedd’s property market?

With house prices continuing to rise, Gwynedd is proving to be a strong investment for homeowners. Whether you’re a first-time buyer or a seasoned homeowner, Gwynedd’s property market offers a mix of affordability and growth potential.