Boom town! (From Barry And District News)

Boom town!

SOARING prices over the last few months have made Barry the second hottest property hotspot in the UK, according to a new survey.

Prices in the town have risen an amazing 32 percent in the last year, according to the Halifax House Price Index.

It's great news for homeowners but bad news for young couples still trying to get onto the property ladder.

The big increase is partly due to an overflow of people who cannot afford similar properties in Cardiff and Penarth.

Angela Fulgoni-Williams, Senior Manager at Knights estate agent in High Street, Barry, said: "Cardiff and Penarth have gone up so much that we seem to be getting the overflow which we never used to before.

"It seems to have happened over the past nine months."

Areas that have seen a particular increase include Pencoedtre Village and the Waterfront.

"Some people have heard of a proposed development for a marina so the number of investors with an interest in the Waterfront has risen."

She added that they have also seen an increase in the number of younger people getting onto the property ladder.

"The Victorian houses seem to be popular but we've noticed a considerable interest from a younger element."

Director at Knights, Carey Jones said: "I think that we're playing catch-up with Cardiff because prices went up there about two years ago reaching a peak last year and the gap was quite significant compared to Barry.

"People realised they could get the same size property in Barry for a lot less, that has driven up prices so we have had a very active market in the last nine months."