Aberystwyth Market Highlights
The property market in Aberystwyth and the wider Ceredigion area has demonstrated resilience and growth over the past year, presenting favourable conditions for both buyers and sellers.
Aberystwyth Market Highlights
- Average House Prices: In Aberystwyth, the average house price over the last year was £242,431. Terraced properties were the most commonly sold, averaging £230,274, while flats and semi-detached properties fetched £174,500 and £255,159 respectively. Overall, prices in Aberystwyth have seen a 10% increase compared to the previous year and are 5% higher than the 2022 peak of £231,153.
- Time on Market: Properties: Properties in Aberystwyth spend an average of 21 weeks on the market before being sold. This duration reflects a balanced market, offering opportunities for both buyers and sellers to negotiate favourable terms.
Ceredigion Market Overview
- Average House Prices: Across Ceredigion, the average house price over the last year was £259,567. Detached properties were the most prevalent, selling for an average of £326,812, while semi-detached and terraced properties averaged £217,268 and £195,020 respectively. Overall, prices in Ceredigion have seen a 1% decrease compared to the previous year and are 4% lower than the 2022 peak of £271,282.
- Recent Growth: Notably, in the second quarter of 2024, Ceredigion experienced a significant 16.2% increase in house prices compared to the previous quarter, and an 8.8% rise compared to the same period in the previous year, reaching an average price of £281,381.
Rental Market Dynamics
The rental market in Aberystwyth remains robust, primarily due to the presence of the university and a growing population of young professionals. Landlords are experiencing high demand, leading to slight increases in rent and minimal vacancy periods. This trend indicates a strong buy-to-let investment opportunity, particularly in areas close to Aberystwyth University and in locations with good commuter links.
Market Outlook
The upward trajectory in property values, coupled with sustained demand, suggests that now is an opportune time for potential sellers to list their properties. For buyers, the market offers a variety of options, with competitive pricing across different property types. Staying informed about local market trends and seeking professional advice can help in making well-informed decisions in this dynamic environment.