BLAENAU Gwent has been ranked about the 10 quietest areas of the UK property market.
A study by Yes Homebuyers has found the county borough had among the lowest number of house sales and purchases over the past five years.
Matthew Cooper, founder and managing director of Yes Homebuyers, said: “The Gwent property market may be home to some of the lowest transaction levels in the UK, but this certainly isn’t a sign of a poor property market performance.
“In fact, house prices are up 20 per cent in the last year which is a phenomenal rate of growth. This is no doubt due to the shortage of available stock in a market where the landscape is largely dominated by rural features.”
Blaenau Gwent ranks as the seventh quietest spot in the UK market. While Merthyr Tydfil is the third quietest spot of the UK and the quietest in Wales, with an average of just 715 homes sold annually.
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This is an average of how many housing transactions were carried out in each area of Gwent over the past five years:
- Caerphilly: 2,317
- Newport: 2,557
- Monmouthshire: 1,356
- Torfaen: 1,301
- Blaenau Gwent: 854
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According to Yes Homebuyers, an average of 978,242 homes have sold across the UK each and every year.
Mr Cooper added: “In a market where homes are flying off the shelf as quickly as they’re being added, it’s easy to forget that not everywhere in the UK will see the same frenzied levels of buyer activity.
“The UK market is incredibly diverse and there are a whole host of reasons that might see an area clock up very few transactions each and every year.
“Areas may be home to a vast landmass that is dominated by a rural landscape, again resulting in a lower level of available stock. A lack of transport links, amenities, or housing suitable for families or single working professionals may also have an influence on the level of homes sold every year, and so while these are the quietest spots of the property market we’re certainly not suggesting they are the least popular.”
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