Runner Up - Newtown Local Business of the Year 2024 (Third Sector)

NEWS

Average house prices in Newtown rise

The average house prices in Newtown have witnessed a remarkable surge in the past decade, making it increasingly difficult for potential homeowners to step onto the property ladder.

9 months ago 1048 views

The image for Average house prices in Newtown rise

Photo: Ben Wolf (with permission)

The average house prices in Newtown have witnessed a remarkable surge in the past decade, making it increasingly difficult for potential homeowners to step onto the property ladder.

According to recent data from Varbes, a typical home in the SY16 postcode is now valued at a staggering £186,000, signifying an extraordinary rise compared to prices just ten years ago.

A decade ago, a budget of £150,000 would have sufficed to purchase an average home in three settlements within the SY16 postcode (Newtown, Kerry and Tregynon). However, the current market landscape paints a different picture, with no settlements within Newtown boasting typical home prices below this threshold. This drastic shift underlines the tremendous growth in property values and the challenges faced by aspiring homeowners.

Kerry, a small village on the outskirts of Newtown, has emerged as the most expensive locality. A typical home in Kerry now commands an eye-watering price tag of £241,000, marking a jaw-dropping increase of £91,000 over the past ten years. The affluent area has experienced an impressive 60.7% surge in average property prices, making it an increasingly exclusive and sought-after destination for buyers with deep pockets.

Contrasting the trend, the most affordable area in remains within the town itself. With an average property value of £177,000, Newtown provides relatively more accessible options for potential homeowners. Nonetheless, even in this more economical zone, prices have seen a notable increase of 58.0% over the last decade, underscoring the widespread upward trajectory in the local housing market.

Further analysis reveals significant disparities within Newtown's neighborhoods. Dolerw Park Drive, situated north of the River Severn, boasts the title of the wealthiest street, with an average property value estimated at an astonishing £468,000.

In terms of size, the street with the most spacious properties in Newtown possesses an average house size of 2,117 square feet, more than double the average home size of 950 square feet. Milford Road, again north of the River Severn, showcases the largest properties, and with a price tag of £413,000.

While the rising average house prices in Newtown reflect the growing prosperity and desirability of the area, it presents a significant challenge for potential buyers, particularly those with limited budgets.

Share   


Related or similar stories based on this one

Image for the article Petrol prices down in December
Petrol prices down in December

4 months ago

Image for the article Average sale price increase by 6.1% in Newtown
Average sale price increase by 6.1% in Newtown

3 weeks ago

Image for the article Local drivers are still being hit with high fuel prices
Local drivers are still being hit with high fuel prices

11 months ago

Image for the article Petrol retailers to be 'forced' to share data
Petrol retailers to be 'forced' to share data

10 months ago

Image for the article Newtown drivers hit by soaring fuel prices
Newtown drivers hit by soaring fuel prices

7 months ago

Image for the article Households braced for bill increases
Households braced for bill increases

1 month ago

Business of the Week
La Terrazza Bistro

Park Street

Follow us

Connect with us on Facebook, X (formerly Twitter) and Instagram

   

Trending
Council to press ahead with school closure

2 days ago

MS raises state of dentistry with Health Minister

2 days ago

Town Council loses eligibility for general power of competence

1 day ago

Donate to us

We're a not-for-profit community interest company and have no corporate owners. We'd appreciate anything you can give to keep us providing free content.

  Donate via PayPal
Upcoming Events
Pie, Pudding & Quiz Night

09/05/24 07:00pm

Digital Friends’ Group

10/05/24 09:30am

Eurovision Day at Hafan

11/05/24 09:00am

Latest Stories
Next civic society talk on community education

5 minutes ago

Town councillors consider new apartments application

1 hour ago

National comedian coming to Newtown

4 hours ago