Welcome to SA Property's latest update on the housing market in Swansea.
Looking at trends and predictions for 2023, over the past few years, the city has seen a steady increase in demand for housing, and this trend is set to continue, albeit not so rapidly and we have some turbulent times ahead.
According to recent data, the average price of a house in Swansea is expected to increase by around 4% in 2023.
This is due to a variety of factors, including the ongoing regeneration of the city center, the expansion of local businesses, and the increasing popularity of Swansea as a place to live.
One major development that is set to have a significant impact on the housing market in Swansea is the proposed new train station in the city centre. This will make commuting to other areas of South Wales and beyond much easier and more convenient, which is likely to attract more people to the area and increase demand for housing.
We expect to contribute to the growth of the housing market in Swansea in 2023 is the continued rise of remote working. More and more people are choosing to work from home, and this means that they can live further away from their place of work, so we could see more people moving from bigger cities to the seaside.
One key development that is set to have a significant impact on the housing market in Swansea is the proposed redevelopment of the city's seafront. This will provide an opportunity for new developments and increased demand for housing in this popular area.
Another factor that is expected to contribute to the growth of the housing market in Swansea in 2023 is the continued rise in property prices across the UK. With the overall shortage of housing in the country, the demand for properties in desirable areas like Swansea.
However, at the moment we are seeing a slow down of properties coming to the market and a hesitation from potential buyers, meaning that the current market is becoming a bit stagnant. Houses are not having the initial impact that they were some months ago, resulting in houses being on tha market for longer.
So, if you are currently on the market with us or any other agent, now is the time to look at how you are being marketed and make some changes.
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