What is the Average House Price in Cardiff?

Cardiff is the beating heart of Wales, and as you might expect, it boasts a property market as vibrant and diverse as the city itself. 

Cardiff has always drawn attention from buyers and investors alike, thanks in part to its cultural landmarks, excellent transport links and proximity to stunning natural landscapes. 

But you may be wondering about the Cardiff property market of late. What is the average house price in Cardiff? And what does the data reveal about property prices in 2024?

What are the average property prices in Cardiff?

The overall average house price in Cardiff reached £278,000 in September 2024, according to the ONS. This is a 5.3% increase compared to 12 months before, in September 2023. This is no surprise as it’s always got a strong demand as well as a solid reputation as a desirable place to live.

This places Cardiff well above the Welsh national average of £217,000. However, Cardiff is still slightly below the UK average of £294,000.

Let’s break it down by property type:

• The average price for flats in Cardiff is £186,000, an 8.3% rise over the past year. These are particularly popular in urban hotspots like Cardiff Bay, where modern developments blend seamlessly with waterfront views.
• At £266,000, terraced homes remain the go-to choice for families and first-time buyers. Areas such as Roath and Canton are brimming with attractive Victorian and Edwardian terraces, offering character alongside affordability.
• Averaging £321,000, semi-detached properties are popular in leafy suburbs like Heath and Rhiwbina, known for their excellent schools and community feel.
• Detached properties command the highest prices in Cardiff, averaging £516,000. Premium areas such as Lisvane and Cyncoed attract families and professionals looking for spacious, high-quality homes.

Cardiff’s varied neighbourhood property picture

Cardiff’s array of diverse neighbourhoods make for a big variation in property prices. 

For instance, in more affluent areas like Lisvane and Cyncoed, detached homes are often sold for in excess of £700,000, driven by spacious plots and excellent school catchments. 

In contrast, areas such as Grangetown and Splott offer more affordable options, where average prices often below £250,000, making them handy for investors and first-time buyers.

Emerging areas like Cardiff Bay offer a unique blend of modern flats and waterfront living, commanding average prices around £300,000. The ongoing redevelopment of Cardiff Bay as a cultural and business hub has further boosted demand, particularly among professionals.

Cardiff’s property market has shown remarkable resilience over the past decade. Following the pandemic-driven boom in 2021, house prices in the city have stabilised, with consistent growth in key sectors such as flats and new builds. This stability provides confidence for buyers and sellers alike, particularly compared to other parts of Wales, which have experienced more pronounced fluctuations.

From 2019 to 2024 Cardiff’s average property prices have risen by nearly 20%.

What’s driving Cardiff’s property price changes?

There’s no single thing that’s causing these changes. Here are four of the more influential factors at play here:

Population growth and demand

Cardiff’s population is growing, reaching approximately 372,089 at last count (2022). Cardiff’s status as Wales’s economic and cultural hub has helped raise demand for housing across the city.

Development and regeneration

Major exciting developments — think projects like the Cardiff Metro, Central Square and the transformation of Cardiff Bay — are boosting the city’s appeal. These initiatives have enhanced transport links, created jobs and drawn more people to the area.

Rental market pressures

Cardiff’s rental market saw private rents rise to an average of £1,062 in October 2024, which is an annual increase of 9.8%. This is in part caused by fierce demand from students and professionals, which makes Cardiff a good spot for landlords and investors.

First-time buyer trends

First-time buyers in Cardiff paid an average of £244,000 for their homes in September 2024, up from £231,000 the year before. This steady rise suggests there is growing confidence in the market, which is outweighing the challenge of higher mortgage rates.

Is it a good time to buy or sell in Cardiff?

If you’re considering buying in Cardiff, the current market conditions make it an opportune moment. 

While prices have risen year-on-year, they remain competitive compared to other UK cities. Buyers can benefit from long-term stability and Cardiff’s strong rental demand.

For sellers, Cardiff’s appeal ensures steady interest in the market. 

In particular, detached and semi-detached homes, in particular, remain in high demand, as families are drawn to the city’s schools and green spaces.

Are you ready to make your next move in Cardiff?

Cardiff offers a unique blend of opportunity and affordability regardless of whether you’re looking for your next home or next investment. And a good proportion of its neighbourhoods are surprisingly budget-friendly, making it a great place to get on the property ladder.

If your next move in Cardiff involves selling a property, Sell House Fast is here to help. We offer a fast, hassle-free way to sell your property to give you a guaranteed cash sale with no hidden fees, no delays, no stress.

Get in touch with our friendly team today for your free, no-obligation cash offer and find out how we’ve helped thousands make their next move with confidence.