Blaenau Gwent houses cheapest in England and Wales

Abertillery (4753192)

Abertillery (4753192)

First published in News

BLAENAU Gwent is the cheapest place to get on the property ladder in England and Wales after prices fell by a record 15 per cent in a year.

Average house prices dropped to £63,443 in the Gwent borough while increasing by a record 13.8 per cent to reach £414,356 in London, latest Land Registry figures show.

Darlows estate agents in Brynmawr said some houses are going for as little as £40,000 in the least affluent parts of Blaenau Gwent such as Blaina, Nantyglo or Abertillery.

Estate agents told the Argus the fall in value led to a surge in sales.

One Brynmawr company, Bidmead Cook, said their business had increased by nearly 50 per cent since the beginning of this year.

The surge has been partly fuelled by the introduction of the Help to Buy scheme in Wales, letting first-time buyers get on the property ladder with five per cent mortgages.

Property investors also took advantage of the conditions to buy homes in Blaenau Gwent to let out.

Bidmead Cook manager Melissa Totterdale, 32, said yesterday: “We have done very well.

“Because house prices have come down, it’s easier for first-time buyers to get on the property ladder.

“Deposits are reduced. Sales have actually soared. Generally we are selling in a three-month period.”

Darren Joyce, 38, a manager at Darlows, stressed prices varied in Blaenau Gwent with strong pockets like Brynmawr and Ebbw Vale.

At the other end of the scale, Mr Joyce indicated that areas like Abertillery had been affected by socio-economic conditions such as low employment but stressed this could improve with town regeneration plans. Blaenau Gwent MP Nick Smith said: “The Government’s policies are hitting the valleys, while the south east of England is bubbling.

“Our unemployment rate stands at 8.5 per cent, with 2,672 people on Jobseeker’s Allowance.”

The Land Registry survey shows Blaenau Gwent saw the greatest annual price fall with a 15.1 per cent reduction between February 2013 and February 2014.

House prices rose by 1.1 per cent in Newport to £113,344, 1.3 per cent in Caerphilly to 96,361, 2.9 per cent in Torfaen to 100,500 and 5.8 per cent in Monmouthshire to £177,808.

Davis & Sons estate agents in Caldicot said house prices in Monmouth, Chepstow and surrounding villages were “premium”.

Proprietor Lisa Lemaire, 44, said: “We’ve seen a 20 to 25 per cent increase in sales.

Comments (7)

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7:41am Fri 4 Apr 14

scraptheWAG says...

mm might be cheap to buy but near impossible to sell
mm might be cheap to buy but near impossible to sell scraptheWAG
  • Score: 2

8:13am Fri 4 Apr 14

scraptheWAG says...

as the Labour MP said goverment cuts are hurting the vallies and under the decade of labour the place was booming
as the Labour MP said goverment cuts are hurting the vallies and under the decade of labour the place was booming scraptheWAG
  • Score: -1

9:04am Fri 4 Apr 14

Poolerkev says...

You really need some tablets buddy. You comment on every negative story you can find and moan constantly about the same single issue. There are loads of positive good news stories posted on here and you never contribute to those. You must have a really sad life. Never mind not your fault is it? I blame old Carwyn in have Bay.
You really need some tablets buddy. You comment on every negative story you can find and moan constantly about the same single issue. There are loads of positive good news stories posted on here and you never contribute to those. You must have a really sad life. Never mind not your fault is it? I blame old Carwyn in have Bay. Poolerkev
  • Score: 0

9:05am Fri 4 Apr 14

Poolerkev says...

* the bay not have.
* the bay not have. Poolerkev
  • Score: 0

8:48pm Fri 4 Apr 14

naff ebbw vale says...

Yes come to Bleanau Gwent for the cheapest houses.But remember council tax in Bleanau Bent is second highest in UK.
Yes come to Bleanau Gwent for the cheapest houses.But remember council tax in Bleanau Bent is second highest in UK. naff ebbw vale
  • Score: 0

6:32am Sat 5 Apr 14

scraptheWAG says...

naff ebbw vale wrote:
Yes come to Bleanau Gwent for the cheapest houses.But remember council tax in Bleanau Bent is second highest in UK.
i bet you wish you never voted labour because your father did now!!!
[quote][p][bold]naff ebbw vale[/bold] wrote: Yes come to Bleanau Gwent for the cheapest houses.But remember council tax in Bleanau Bent is second highest in UK.[/p][/quote]i bet you wish you never voted labour because your father did now!!! scraptheWAG
  • Score: -1

3:06pm Sat 5 Apr 14

Limestonecowboy says...

scraptheWAG wrote:
as the Labour MP said goverment cuts are hurting the vallies and under the decade of labour the place was booming
This is because of Labour throwing taxpayer's money at the valleys which bankrupted the country.
[quote][p][bold]scraptheWAG[/bold] wrote: as the Labour MP said goverment cuts are hurting the vallies and under the decade of labour the place was booming[/p][/quote]This is because of Labour throwing taxpayer's money at the valleys which bankrupted the country. Limestonecowboy
  • Score: 0

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