Wales has both expensive and cheap property areas
Situated in the county borough of Rhondda Cynon Taf is Tonypandy. And it is in this area that one of the houses went on the market earlier this year for a guide price of just £7,000.
The house stands on Oak Street, Clydach Vale, which has been dubbed one of Britain’s cheapest streets, yet it has three bedrooms. Whilst it is in poor condition, youâ€™d never expect to find a property so cheap, regardless of the amount of work it needs!
It’s due to sell at auction with a guide price of £5,000 by estate agent Darlows, who claims the house is the cheapest property it has had since the early 2000s.
So, this house price may be an anomaly for the mining town but just last year, another street here, Mitchell Court, was listed as the least expensive road, with prices averaging £29,400. This figure is 26 times cheaper than the most expensive street in Wales!
In the Cynon Valley area of Rhondda Cynon Taf is Aberdare. Terraced properties in this town have sold, on average, for just £66,505 according to Rightmove. And some of the cheapest properties in the area sold for much less. A two bedroom terraced house went for £35,000 and a three bedroom cottage for £39,995.
According to Claire Morrissey of Bidmead Cook & Williams, an estate agent in Aberdare, the house prices in this town fluctuate depending on the property. Houses typically start from aroun£40,000 for a property which needs considerable work, to a three bedroom chocolate box house for £85,000.
Halifax found that in terms of per square metre, Aberdare has the cheapest property of anywhere in the UK at just £910.
Merthyr Tydfil is famous for being a figurehead of the Welsh Industrial Revolution, but the iron works and coal mines which once employed thousands are no longer a force in the town. Welsh Government data states that 80% of people living in Merthyr work in service industries, and the disappearance of the former major employer has resulted in Merthyr Tydfil’s house prices being only marginally higher than Aberdare’s at £967 per square metre.
There is hope for the area though: a recent investment of Â£390 million in General Dynamics will bring 250 new skilled jobs.
Llewellyn Street in Ferndale, Rhondda Cynon Taf is another area in Wales that has cheap houses. On average, houses changed hands for only £24,333 in 2013.
Jayne Morris, Head of Sales for South Wales estate agent, Peter Alan, said that Llewellyn Street is one of the cheapest areas because the homes are the old miners terraced cottages in depressed communities.
She said: They are quite a few miles away and road links outside Cardiff are not very good. And probably the economy isn’t fantastic. Industry up there since the mines have closed isn’t brilliant. So the age of the houses and the work that’s needed on a lot of these properties is probably what’s keeping the price very low.