CPS Homes

Strong summer demand for Cardiff Bay

Clare Sinclair - CPS Homes Cardiff Bay Branch ManagerCardiff Bay turns into a hive of activity at the slightest sight of the sun – and the area's property market is no different.

We've registered 87 prospective buyers and 141 prospective tenants in the last two weeks, suggesting that the warm weather evokes the “I'd love to live in the Bay” feeling amongst people!

What's not to love about the place? Beautiful views, the bars/restaurants of Mermaid Quay and the cultural offerings at Wales Millennium Centre make it a big draw for people. Already this summer the area has seen the Cardiff International Food & Drink Festival and the opening of a brand-new Aqua Park, with the return of the Beach Festival and lots more to come.

So who are the people looking to buy or rent in what is widely regarded as one of the most successful regeneration projects in the UK?

Cardiff Bay buyers

We attract countless first-time buyers who are typically drawn to the wide variety of one and two-bedroom apartments the Bay has to offer. They provide relatively low-maintenance first homes, allowing buyers to budget for their day-to-day lives pretty comfortably.

But it's not all about entry-level properties in the Bay. There's also the higher-end market, which includes a range of stunning penthouses and townhouses. These attract interest from established working professionals to those looking to retire to a slower pace of life. The area is especially popular with holiday-home buyers wanting something special for the weekend!

Meanwhile, the 'Docks' – which includes the streets behind Clarence Embankment – attract a lot of first-time or family buyers. These properties usually provide more space than an apartment and a traditional garden, rather than a balcony. They're particularly popular with families due to the short stroll to nearby schools.

Cardiff Bay renters

The majority of prospective tenant enquiries have come from recent Cardiff graduates who feel that moving from student areas of the city to the Bay is an obvious transition. Having recently secured their first full-time jobs, they want (need!) to swap late nights for early mornings, so with the Bay being only a little more expensive than what they're used to paying in student houses, it makes perfect sense.

A lot are away for the summer and start in their new roles in September, so are looking for a tenancy to start around then.

But it's not just recently uni leavers who love the Bay. So too do couples who are moving in together for the first time. Is there anything nicer than a hand-in-hand stroll along the barrage as the sun sets?!

If you'd like to take advantage of this surge in Bay interest, I'd urge you to do so before the summer is out. Contact me today on 02920 480490 or clare.sinclair@cpshomes.co.uk

29 July 2019

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