Swansea is Wales’s second largest city, and properties here are often in high demand.
It has excellent schools, job opportunities, and more.
Let’s look at a few things to consider when buying or selling a home in Swansea in more detail.
Overview of Swansea’s current property market
As of 2024, the property market in Swansea is not booming as it was a few years ago.
Mortgage rates are at their highest level in years. And many buyers and sellers are apprehensive about what to do next.
According to some reports, properties are taking approximately 17% longer to sell compared to a few years ago. In the case of detached houses, this figure is 45% longer.
This may be due to more properties on the market than buyers looking. This means many buyers are delaying their offers and negotiating with sellers more.
Added to this is the fact that increased competition drives down prices.
Swansea property market trends
House prices in Swansea rose significantly between 2019 and 2023.
However, as with many other parts of the UK, this growth is slowing down significantly.
(According to the Land Registry, there has been negative growth in property prices).
This benefits buyers, who can command cheaper prices on the longer-listed properties. But it is not great for sellers.
It is unlikely that there will be any bounce in the immediate future. The market seems to be levelling out due to its 2021 gains.
Buying a house in Swansea
Swansea is currently a buyer’s market, especially for cash house buyers. Properties are being listed for longer, and prices are falling (in some cases).
As of March 2024, the current average property prices in Swansea are as follows:
- Detached: £306,070
- Semi-Detached: £201,753
- Terrace: £156,948
- Flats: £113,860
These prices are above average for Wales, which is to be expected for a city. However, they are significantly lower than in other major cities throughout the UK, including Cardiff.
Selling a house in Swansea
The key to selling a house in Swansea via traditional methods is to list at the right price and to be patient.
The average property is now taking over 4 months to sell and rising.
This is to be expected, though. If you read our article on how long it takes to sell property in Swansea, you’ll see that this city has long been the slowest place to sell a property in the UK.
Best time of year to sell a house
In general, Spring – and March in particular – has always been a popular time to sell.
This is because people often have more cash available in the Spring, as their finances have recovered from the expensive New Year period.
It is often easier to carry out property renovations, too – the weather improves, which means work gets completed faster.
The worst time of year to sell a house
The worst time of the year to sell a house is during winter. There are a lot of expenses around Christmas, and it is often difficult to find contractors to work with.
Alternative selling methods
It may not be the best time to sell property in Swansea via traditional methods.
This is why many people turn to cash house buyers, such as us here at We Buy Any Home. We can buy property in a matter of days, not months.
If you want a quick sale from a trusted team of experts, call us for a free cash offer in minutes.
And if you wish to go ahead, we can sell your property in as little as 7 days – significantly quicker than the Swansea average.
Call us today and put your trust in us to get you a free quote within 24 hours and a guaranteed sale on a timetable that suits you.
