Rightmove has revealed the UK’s property hotspot of 2021 - where prices have risen 31 per cent in just a year.
The location is Mountain Ash, in Rhondda Cynon Taf, Wales; the average price for a home in Mountain Ash is £137,220, compared to £104,431 a year ago.
Porth, in Rhondda Cynon Taf is second on this year’s price hotspot list, where asking prices have risen by 26 per cent and Kirkby in Liverpool is third at 21 per cent.
Wales tops the tables as this year’s regional price hotspot. Average asking prices are up 10.5 per cent in Wales compared to last year, followed by the South West (up 9.6 per cent) and the South East (9.1 per cent).
Only St. Ives appears in the top 20 asking price hotspots from the South of England. Average asking prices in St. Ives have risen 15 per cent this year, from £411,484 to £473,161.
Further highlighting the popularity of properties in areas of Wales this year, Holyhead has topped the list of areas that have seen the biggest jump in sales agreed. The number of sales agreed in Holyhead has risen 58 per cent compared to last year, and four of the top ten areas are in Wales.
Dalgety Bay, in Fife, Scotland is this year’s quickest market – with homes in the area finding a buyer in an average of two weeks.
The portal says demand is set to continue to be high into 2022, and with every region hitting record price growth this year and seven in 10 homes for sale on Rightmove finding a buyer, it may signal an opportunity for those considering a move in the new year to get the most for their property.
Tim Bannister, Rightmove’s Director of Property Data says: “This year has seen significant growth in average asking prices across so many areas of Great Britain.
“Strong competition for available properties, driven by low stock and high demand, has propped up asking prices throughout the year, and agents report that having multiple bidders for available properties will continue to be a theme into at least the first half of next year, although we do expect a better balance of supply and demand during the course of 2022, and some fresh property choice for buyers.
“With so many areas reaching asking price records, homeowners might be thinking that the new year is the time to take action and move, and maximise the return for their property. We’re expecting a wave of new buyers early in the new year, so we’d recommend this group who might be considering coming to market speak to their local agent for advice on making a new year move.”