Archive - Thursday, 10 January 2002


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Prices on the rise

BARRY'S house prices are rocketing, rising by at least six percent in the last year.

Mirroring a trend seen across the whole of Wales, local experts have confirmed that the town is definitely experiencing a property boom.

Mortgage adviser for Peter Alan in Barry Jeremy Griffiths said he has seen prices take a steep rise in Barry in the last 12 months.

He told the News: "Last year, a first-time buyer would be looking at paying around the low £40,000s. Yesterday morning, I arranged a mortgage for a first-time buyer for a £51,000 house. And this is about average for the prices at the moment. They can reach as high as the mid-£50,000s, which is not such good news for people entering the housing market with nothing behind them."

While certain areas in Barry remain popular, like the West End, new developments are proving to be just as attractive. Housing estates built near the Docks Link Road are drawing buyers from outside the area.

Mr Griffiths added: "There are obvious attractions for coming to Barry, and we've seen our mailing list grow to take on Cardiff, Penarth and Dinas Powys.

"For the price of a two-bedroom terraced property in Cardiff, house-seekers can get at least a three-bedroom semi-detached in Barry. Plus, we're 25 minutes away from the Welsh capital, with good links to the motorway."

Peter Alan in Barry boasted its busiest December on record in 2001.

And houses are selling so quickly, some areas are becoming 'hot spots', with a shortage of houses to sell.

Mr Griffiths, who has been with the company for three years, said: "There are so many new housing developments, which are being built all over Barry. They're not just springing up in one place. And they are all popular for their own reasons. The Waterfront is a very choice place to buy a house or flat; it's a pretty area with good potential. The Link Road properties are good for commuters. And while there are still properties available for first-time buyers around Barry, they are getting far more expensive."