After many years of substantial growth for the English housing market, it appears that all good things must come to an end. Reports earlier this year, suggest that market growth for the first quarter of 2007 was marginal and speculation of a possible decline is rife.
However, the trend is not typical for the whole of the UK suggests a leading insurance broker. Reportedly, Wales has experienced a huge property boom over the last few years with house prices rising a staggering 73%. The average house price in Wales has rose from around £65,000 to £118,000.
The Welsh market is also showing no signs of slowing down, at least for the time being. The insurer also suggested that if the market continued to grow at is current rate of inflation, the average Welshman would be sat on property, with an average valuation of around £430,000 by 2011.
Of course the likely hood of growth sustaining at its current level, for the next 4 years is highly unlikely. In reality, the Welsh housing market is more than likely playing catch-up with the rest of the UK in order to achieve stability. However, due to the sudden change in the market, the number of Welsh citizens procuring secured loans has increased, similar to that in the rest of the UK.
