Young homebuyers are increasingly choosing Wales when looking to take their second step on the housing ladder, according to the latest new homes index from SmartNewHomes.com...

In addition to a growing number of first time buyers, who have been driven out of the expensive southern regions of England, young homebuyers are moving towards the new and emerging, more affordable property hotspots in Wales.

As a result, Wales, where average property prices are £238,765, has seen an influx of new home buyers, in search of a greater variety of more affordable homes. Prices have rocketed by 9.1% in April alone, and 4.8% over the last year.

Prices remain ‘highly competitive’

However, despite this recent surge, prices still remain highly competitive. While homebuyers at the bottom of the ladder in the south are increasingly finding apartments to be the only property type that falls realistically within their budgets, those choosing to move out to more affordable destinations are able to chose from a wide range of townhouses, semi detached and detached homes that typically offer more space, often with private gardens and private parking.

David Bexon, Managing Director, SmartNewHomes.com said:

“Young homeowners are becoming more mobile in their search for a property and a better lifestyle. Cities such as Cardiff are continuing to act as a magnet for young homeowners, with thriving business centres offering a growing number of career options and prospects in addition to a wide choice of property at affordable prices and for many, a better quality of life”.