Properties in Cardiff are highly sought by both homebuyers and investors alike, being a vibrant capital city with a wealth of opportunities for all kinds of people. For those looking to purchase a property in the Cardiff area, it’s important to understand the pace of the market and ultimately know how quickly properties tend to sell.
In this article, we’ll analyse how long Cardiff properties tend to be listed on the market, categorising this by property type, number of bedrooms, and specific areas within Cardiff where properties sell quicker than others. We’ll also include a comparison of average asking prices in Cardiff in 2023 with those in 2022, plus some answers to frequently asked questions on this topic.
Time On The Market Vs Last Year
In the below sections, we’ve included data on the average time Cardiff properties have been listed on the property market in 2023 in comparison with data from the previous year, by property type and the number of bedrooms a property has.
By Property Type
In the following table, we’ve compared average selling times in Cardiff by property type, specifically focusing on the period of December 2023 and comparing this with the same period of the previous year.
It’s clear from this data that average time on the market has increased across all property types when comparing December 2023 with December 2022, with semi-detached houses increasing by the largest percentage of 36%.
We can also ascertain that semi-detached houses are on the market for the shortest amount of time, with an average time on the market of 132 days, while flats tend to spend longer on the market with an average time on the market of 171 days.
By No. Of Bedrooms
Below you’ll find data comparing the average time on the market by the number of bedrooms a property has.
This data shows us that most properties have increased in terms of the average time on the market, except for 1-bedroom properties where the time on the market has decreased from 184 days in December 2022 to 254 days in December 2023 (a -11% change).
We can also see that 1-bedroom properties are on the market for the longest amount of time with an average time on the market of 254 days, while 3-bedroom properties are on the market for the shortest amount of time with an average time on the market of 133 days.
|No. of Bedrooms
Areas In Cardiff That Sell Fast
Some areas in Cardiff have properties that sell more quickly than others. Here’s a brief breakdown of some key Cardiff towns where houses sell the quickest.
Cyncoed is an area situated in the northeast of Cardiff and is known for its quick property sale time. This is likely due to a prominent community feel and easy access to local amenities.
Cyncoed properties have remained high in price with an average selling price of £368,931 in 2023, which is similar to average property prices in 2022.
Another area in Cardiff that benefits from quick property sales is Penylan, a popular Cardiff suburb based to the east of the Welsh capital.
House prices in Penylan have increased by 2% compared with the previous year, and currently have an average property price of £350,271.
Cardiff Bay is a highly sought-after area within Cardiff for new property buyers and has a quick selling time largely due to it being a vibrant, historic area for people to settle down.
If you’re looking to buy a property in Cardiff Bay, you can expect to pay an average of £211,543 for a home, which has increased by 2% when comparing data from the previous year.
A Cardiff area steeped in character is Rhiwbina, a pretty suburb where houses get snapped up more quickly than other Welsh towns.
Rhiwbina has an average property price of £330,047, which has decreased by 6% when comparing data from the previous year.
Last but certainly not least is Lisvane, a small area to the north of Cardiff. Lisvane is popular among prospective homeowners as it’s a beautiful, rural area with a wealth of history behind it.
The average property in Lisvane sells for approximately £346,964, a decrease of 10% from the previous year.
How Quickly Do Most Houses Sell?
The average selling time for a property in the UK is 185 days, which is equal to just under 6 months.
This may sound like a long time, but this does include initial marketing time of a property which may be lengthy depending on how well the property is advertised.
Based on this information, all property types in Cardiff sell more quickly than the national average and Cardiff properties with over 3 bedrooms meet the national average in this respect.
Is Cardiff A Good Place To Invest In Property?
Cardiff is generally considered to be a good place to invest in property as it has seen high increases in property prices over the years (14% increase when compared with prices in 2020), however, it remains one of the more affordable cities for property buying in the UK.
Where Is The Fastest-Selling Property Area In The UK?
Harpenden in St Albans is the fastest-selling property area in the UK, with an average selling time of just 52 days.
This is significantly quicker than the UK average selling time of 185 days listed above.
What Month Do Homes Sell The Fastest?
Homes typically sell the fastest in the spring, with people being more motivated to purchase a property when the weather is improving and Christmas is done and dusted.
The best month for securing a quick property sale is March, with an average selling time of just 57 days.
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