House prices in Cardiff have dropped nearly £7,000 on average over the last month according to the latest figures released by Rightmove. The average property fell from £194,726 to £187,982.
Cardiff Estate Agents agreed that the levels of reduction shown by Rightmove, weren't in line with what they were seeing throughout Cardiff. Whilst there have been some reductions of this scale at the higher end of the market, lower prices are more flexible.
The Royal Institute of Chartered Surveyors (RICS) said the property market in Wales was witnessing re-newed activity, and that the gap between asking prices and selling prices was closing. Confidence is returning to the market, and we are even seeing cases of multiple parties chasing the same property.
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