THE three least desirable areas to live in Wales are all in Gwent.
A new study has shown that homes for sale in three areas of Gwent are the slowest to sell anywhere in the country.
Professional house buying firm Property Solvers’ speed of sale tool has revealed that it’s taking an average of 15.17 weeks to sell a property across Wales.
Updated monthly, the latest dataset analysed over 3,306 property sales across the region between April 2020 and April 2021.
The statistics track the moment a property is listed on the UK’s largest property portal Rightmove to the point it’s marked as officially ‘sold’ at the HM Land Registry.
The study revealed that two Newport postcodes and a Pontypool postcode were the least desirable in Wales.
Homes were selling the slowest in NP18, NP19 and NP4.
The average time for a property to sell in NP18 and NP19 was 127 days, while it was 124 days in NP4.
At the other end of the table, homes in Conwy, LL21, Abergele LL22, and Pontypridd, CF38, were the fastest, at an average of 88 days.
READ MORE:
- Confirmed - Wales pubs and restaurants can open for outdoor trade from April 26
- Rubbish left dumped in valley for years cleared up with help from sports teams
- This is why you may see a heavy fire service presence around Newport today
Property Solvers co-founder, Ruban Selvanayagam said: “Despite the broad level of inactivity under the first COVID-19 lockdown, the estate agency industry has recovered relatively quickly.”
“Whilst buyer demand certainly hasn’t waned as many predicted, the time for house transactions to complete has certainly lengthened.
“Many solicitors, mortgage brokers and other professionals in our sector have been working from home which has often resulted in further administrative and other operational delays. However, with restrictions gradually being lifted, and more people returning to office, the property buying and selling process should hopefully accelerate,” he added.
Nonetheless, Selvanayagam concluded, many of the processes remain slow and archaic – “an issue that’s likely to continue post-pandemic.”
Share