House prices in rural Ceredigion, Pembrokeshire and the Vale soar compared to urban properties

House prices in rural Wales are on the increase compared to those in urban properties, new research has found.

The report looked at many areas across the UK, with Ceredigion, Pembrokeshire and the Vale of Glamorgan all recording more than a 18% rise.

It's thought the pandemic and more flexible working opportunities have prompted some people to relocate to more rural areas in recent years.

In addition, the findings further emphasis the second homes crisis for rural areas with people purchasing holiday or second homes - an ongoing issue in Wales.

The research by Nationwide Building Society analysed data from the past five years and found that property values in rural areas have risen by an average of 29% compared to 18% in urban locations.

More specifically, detached properties increased by 32% on average compared to urban flats at 6%.

It comes as the Welsh Government recently announced an increase to the limit on council tax premiums for second homes across Wales.

The maximum level at which councils can set council tax premiums on second homes and long-term empty properties will be increased to 300% from April 2023.

The changes are part of a wider package of measures intended to ensure people can find an affordable home in the place they have grown up, as set out in the Co-operation Agreement between the Welsh Government and Plaid Cymru.

As well as south Wales, parts of the Cotswolds, Devon and the Broads also registered big jumps in price.

Senior economist, Andrew Harvey, explained: "ONS data suggests that the rate of second home ownership is significantly above average in areas such as Pembrokeshire and Ceredigion, areas which are amongst those seeing the fastest rates of growth."