Most expensive, busiest and trendiest parts of Powys to buy a house revealed

Analysis of new figures reveals that Yscir was the most expensive area of Powys to buy a house in last year.
Thursday 30th June 2022 2:02 pm
Credit by Victoria Jones (PA Wire )

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Analysis of new figures reveals that Yscir was the most expensive area of Powys to buy a house in last year.

Zoopla said the data highlights how localised the housing market across England and Wales is, with prices often reflecting the housing stock available in an area.

Data from the Office for National Statistics reveals that of the 73 council wards in Powys, Yscir saw the highest median house price in 2021, of £400,000.

This was followed by Felin-f�ch (£371,750) and Glasbury (£362,500).

By contrast, the cheapest parts of Powys to purchase property were Llandrindod East/Llandrindod West, which had a median house price of £84,500, Cwm-twrch (£115,000) and Newtown East (£130,000).

The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.

Meanwhile, the number of homes sold in Powys rose from 1,479 in 2020 to 1,860 last year.

Of sales last year, 3% (59) were in Presteigne – making it the busiest area for buyers.

At the other end of the scale, Yscir saw just six properties sold in 2021, earning it the title of quietest area of Powys's property market, along with its most expensive.

The Centre for Economics and Business Research said that following a period of significant growth during the pandemic, it expects house prices to experience downward pressure over the next year, as a result of sharp rises in mortgage rates.

Karl Thompson, an economist at the think tank, said the strongest price contractions are expected outside of London and the South East, causing greater regional price disparities.

The number of residential property sales in Wales increased by 23% to 43,557 between the end of 2020 and the end of last year.

Grainne Gilmore, head of research at Zoopla, said property values vary widely in large part because of the differing housing stock between areas – some neighbourhoods will have a higher number of five-bedroom detached homes, while others will be home to more flats and smaller properties.

But she said the difference between more and less expensive areas may start to narrow.

She added: "The demand for larger detached homes during the pandemic has pushed average values for houses higher over the last year, while price growth for flats has lagged.

"But there are signs that demand for flats in city centres is gaining momentum, so we could see faster rising prices in this part of the market."

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