Welsh house prices predicted to rise faster than London

House prices in Wales are set to increase next year at a faster rate of predicted growth than London.

That's according to the Royal Institute of Chartered Surveyors (RICS), which predicts Wales will be one of the strongest areas of the UK for transaction levels, alongside the North East, Scotland and Northern Ireland.

Their analysis indicates that house prices in Wales will rise by 6%, while London will see just a 5% increase.

Predictions also indicate that the cost of renting in Wales could rise by around 3%.

On average, house prices in the UK will see an average increase of 6% over the course of the next year.

Although housing is climbing the policy agenda, with supply issues dominating the private housing market, the RICS forecast suggests that the likely increase in prices in 2016 will outstrip any rise in household income.

Predicted growth in 2016 UK housing market:

  • East Anglia 8%

  • East Midlands 4%

  • London 5%

  • North East 3%

  • Northern Ireland 5%

  • North West 6%

  • Scotland 4%

  • South East 7%

  • South West 5%

  • Wales 6%

  • West Midlands 7%

  • Yorkshire and Humberside 6%