If you’re in the market for a new home in the Cardiff area, you’re likely to be investigating the cost of housing in Cardiff. The housing market in Cardiff may seem like a minefield, but it’s important to fully understand it before making a purchase or rental decision.
The housing market in Cardiff is buoyant, with property prices increasing by 7% over the last 12 months. A dominant factor that has led to the increase in housing prices in Cardiff is the high demand for housing in this popular area, along with external factors such as Brexit and the COVID-19 pandemic.
In this guide, we’ll give you a comprehensive overview of the cost of housing in Cardiff, including how price varies based on property type, the availability of affordable housing in Cardiff, general market trends and projections, plus some popular neighbourhoods, we recommend checking out.
Average Housing Prices in Cardiff
So how much does the average house cost to purchase in the Cardiff area? The average Cardiff property costs an average of £350,811, based on data from April 2023.
We’ve compiled a concise table below displaying the average cost of housing in Cardiff, broken down by property type.
| Property Type | Average Property Price |
| Flats | £208,042 |
| Terraced Houses | £291,146 |
| Semi-Detached Houses | £348,301 |
| Detached Houses | £586,375 |
Source: Home.co.uk
From the data above, it’s clear that flats are the cheapest property to buy, while detached properties are the most expensive.
In comparison with nearby cities and towns, Cardiff is certainly more expensive. For example, when comparing house prices in Cardiff with house prices in Swansea, Cardiff was 35% more expensive than Cardiff with the average property price in Swansea of £259,784.
We’ve also compared Cardiff with the popular city of Newport and found that Cardiff was 14% more expensive with average house prices in Newport of £305,888.
Factors that may affect housing prices in Cardiff include increasing interest rates along with the rise of inflation. Cardiff could also be considered a more expensive area than other Welsh cities due to it being the capital city, and offering a larger number of properties to accommodate a bigger population.
There are also more amenities and tourist spots in Cardiff due to it being the capital of Wales.
Affordable Housing in Cardiff
If you’re looking for affordable housing in Cardiff, there is a range of options available to you.
The most affordable houses in Cardiff that offer ample space tend to be terraced properties, with an average price of £263,223. This is significantly cheaper than the average house price in Cardiff more generally, plus most houses in Cardiff are terraced properties. This means there should be good availability of affordable housing in the Cardiff area.
Shared Ownership is a great option when looking at affordable housing in Cardiff; this scheme allows you to purchase a share of a property and pay rent to a landlord on the rest.
Here are some top tips for finding affordable housing in Cardiff:
- Look into local affordable housing authorities
- Apply for low-income housing assistance programs
- Work with a local estate agent
- Use referral services/brokers
Housing Market Trends in Cardiff
The housing market in Cardiff has been increasing over recent years, with a 7% increase over the last 12 months and 2,494 properties currently listed for sale.
While prices have been rising since the 2008 recession and the COVID-19 pandemic, house prices in Cardiff began to plateau towards the end of 2022, particularly given the economic crisis and near-miss of a recession.
Cardiff specifically seems to have weathered this storm with prices still having increased overall year on year, however, prices are generally unsteady due to the UK leaving the European Union and the after-effects of the pandemic.
Cost of living pressures and higher interest rates are expected to result in a decline in property demand over the next 12 months, however, it is unclear how much of an effect this will have given that there is still a significant need for housing in this area due to an increasing population.
Popular Neighbourhoods for Housing in Cardiff
Cardiff has many popular neighbourhoods, with a range of attractions and amenities to suit a range of lifestyles.
We’ve listed below some popular neighbourhoods for housing in Cardiff, alongside average house prices and other information, to help you choose the right area based on your lifestyle and preferences:
- Roath – this is a multicultural suburban area, with many houses available. Roath offers a local park and lake, and average house prices of £279,609.
- Llandaff – Llandaff is a quiet residential suburb of Cardiff, with a range of pretty homes and medieval buildings. The average house price in Llandaff is £311,306.
- Pontcanna – a more rural area, Pontcanna is known for its green spaces and creative venues. Average house prices in this area are around £372,996
- Cardiff Bay – another popular area is Cardiff Bay, a suburban area home to the Wales Millenium Centre. Prices in this area average at £208,566.
- City Centre – the city centre of Cardiff is an urban area with lots of terraced housing, with quick access to local amenities such as Cardiff Castle, the National Museum of Cardiff and the Principality Stadium. Property prices in this area average at around £299,038.
Conclusion
We hope that having read this comprehensive guide you’re now fully aware of the extent of the cost of housing in Cardiff, including the average property price of £350,811, availability of affordable housing, market trends, and the best neighbourhoods for housing.
We wish you all the best in your property search and encourage you to work with a local estate agent to find the ideal property for your requirements – at the right price of course. There are also online tools such as Rightmove and Zoopla that will certainly aid you in your property search.
It’s super important to know exactly what you want from a Cardiff property, as well as some aspects that you’re willing to negotiate on. Make sure you choose the best area and property for you before making a decision – it’s highly beneficial to be well-researched to ensure long-term financial stability.
If you have a property in Cardiff already and are looking to sell, reach out to We Buy Any Home. As the biggest cash-buying company in the UK with a wealth of positive reviews, you can rely on us to provide you with a quick property sale at the best price – we don’t charge sellers a penny in fees, and we’ll even cover the cost of your legal representation and surveying costs.
Get a free cash offer for your Cardiff home by checking out our website today – you could receive your property funds in as little as 7 days!
