Is It a Good Time to Buy Property in Cardiff?

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Is It a Good Time to Buy Property in Cardiff?
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Cardiff is a famous city in the heart of Wales, seeing steady growth in its property market over the years. With its wealth of cultural attractions and combination of city/rural living, it’s unsurprising that many choose to buy property in the Welsh capital, but is now an excellent time to purchase property in Cardiff?

In this article, we’ll provide you with an overview of some critical factors to determine whether now is the best time to invest in a Cardiff property, including an analysis of the Cardiff property market, some information on property type, prices, and trends, whereabouts you could buy within the Cardiff area, and some tips on financing a potential property investment. We’ll also delve into the potential return on investment that Cardiff offers, which is sure to pique your interest.

Cardiff Property Market Overview

First, let’s take a look at the Cardiff property market. We’ve broken this information down by property prices and trends to give you more details on each area.

Property Prices

The average property price in Cardiff is £290,383, which is 2% down on the previous year and 3% higher than the 2021 post-COVID peak of £281,116.

This data tells us that while Cardiff property prices are down when compared with prices from last year, they are still very much buoyant with an increase in the long term.

Most property sales in Cardiff were for terraced homes, selling for an average of £268,362.

Some more information on Cardiff property trends can be found here.

Regarding trends in the property market in Cardiff, we’re seeing good resilience with steady growth when looking at more extended periods. This stability should give you confidence in the Cardiff property market, making it an attractive option for your investment.

We’ve also seen an average time on the market increase for properties, with an increase of 10% when comparing April 2024 with April 2023, as well as a 24% increase in the number of properties for sale in Cardiff over this period.

Check out our blog for more information on how quickly a property sells in Cardiff.

Which Property Types Should You Invest In?

If you’re looking to invest in a Cardiff property, you’ve likely thought about the type you should invest in.

There are many different types of property in Cardiff, each with its unique advantages and potential for returns. These include residential buildings, commercial properties, and student accommodation, all of which have pros and cons for investors. This variety empowers you to choose the type of property that aligns best with your investment goals and strategies.

Residential Buildings

Residential buildings are highly popular with investors in Cardiff. Options include historic Victorian terraces and more modern developments.

By investing in a residential property, you can rent to a wide range of people, such as families, young professionals, and students, which may appeal to some investors.

Student Accommodation

Student accommodation is another famous avenue for investment, with Cardiff being home to four major universities: Cardiff University, Cardiff Metropolitan University, University of South Wales, and the Royal Welsh College of Music & Drama.

If you’re looking to invest in houses in multiple occupations (HMOs) and would prefer not to be involved in lengthy rental contracts, investing in student accommodation may give you the flexibility you want as an investor.

Commercial Properties

Last up are commercial properties, with Cardiff city centre and areas such as Cardiff Bay prime locations for offices, retail units and other commercial opportunities for investors to purchase.

Cardiff’s economy is thriving, which makes investing in commercial property highly appealing. Commercial property is likely to provide a regular stream of rental income and diversify an investor’s property portfolio.

Financing Your Property Investment

It’s crucial to analyse your finances before embarking on a property investment, and there are several ways you can finance your investment to make this process quicker and less stressful.

Reaching out to a traditional mortgage lender may be the best option, as they will give you an idea of how much money they’re prepared to lend for your investment. You could also look into private investors or crowdfunding platforms for other ways of raising money to invest.

You may wish to consult a financial advisor to help you find the best ways to finance your property investment. 

Where To Buy Property In Cardiff

Cardiff is a vibrant city with pockets of areas, each appealing to investors for different reasons.

Cathays and Roath could be worth a look for student accommodation due to their proximity to Cardiff University. These areas experience high demand for rental properties, giving you plenty of opportunities for rental income.

Cardiff Bay offers residential and commercial property opportunities, with stunning waterfront views and bustling city life.

Emerging districts such as Grangetown and Splott may also be worth investing in, with affordable property options providing scope for high rental yields and potential return on investment.

How We Buy Any Home Can Help

If you have invested in a Cardiff property and need help selling it, We Buy Any Home can help. As the UK’s leading home-buying company, we provide our customers with transparent advice and quick property sales, allowing them fast access to their property funds without lengthy contracts or hidden fees.

Our trusted team of experts can provide you with a free quote via our website in minutes and even allow you to choose a completion date. You’ll achieve a guaranteed sale in a time scale to suit you and could receive the funds from your property sale in just seven days.

Get a free cash offer on your Cardiff home today and get your home sold fast!

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