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Statistics

House prices and affordability

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  • Release date: 31 May 2007
  • Period covered: 2006
A report which provides a general overview of the current position in relation to overall housing availability and whether the housing that is available is also affordable.

Key points

  • Social housing stock declined from 21 per cent of total stock in 1990-91 to 17 per cent in 2005-06, mainly due to the decrease in new house building by local authorities and the impact of Right to Buy legislation.
  • Housing supply currently appears to be insufficient in 15 out of the 22 local authorities. It is estimated that this may continue in future particularly in North and South East Wales.
  • The average house price for all dwellings in Wales during 2006 was £157,500 compared with only £46,500 during 1990, an increase of almost 240 per cent.
  • In 2005 most people would have found it difficult to buy a property without an increasingly large deposit, because of the divergence between house prices and peoples earnings.
  • At the lower end of the housing market and earnings scale, in 2005 house prices were high in relation to local earnings, particularly in Cardiff and rural authorities.
  • The number of house purchases by first time buyers in Wales fell by 20 per cent between 1995 and 2005, from 18,800 to 15,000 purchases.

Contact

Tel: 029 2052 5055
Email: stats.housing@wales.gsi.gov.uk

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