Why sellers in Wales shouldn’t rush to cut prices just yet

The latest data from Nationwide’s House Price Index shows that the Welsh housing market is continuing to perform steadily, with prices and demand holding up well despite a more uncertain wider outlook.

As we move into spring, the figures point to a market that remains active and resilient, particularly when compared to the UK as a whole.

Wales outperforming the national picture

According to Nationwide, the average house price in Wales now sits at £215,411. That represents annual growth of 2.7% and a quarterly increase of 0.8%.

This compares favourably with the UK average, where annual house price growth rose annually to 2.2% in March, up from 1.0% in February. While the UK market is showing signs of improvement, Wales is currently edging ahead in terms of both pace and consistency of growth.

This reflects what we are seeing locally across Cardiff and the surrounding areas, where demand remains steady and well-priced homes continue to attract strong interest.

A more complex backdrop

That said, the wider picture is not without its challenges. Borrowing costs have been creeping up again, which can impact affordability for some buyers, particularly those relying on mortgages.

There are also broader global factors at play. Ongoing tensions in the Middle East, alongside general economic uncertainty, have softened what is usually a very busy spring period.

However, it is important to keep this in perspective. While headlines may suggest a slowdown, the reality on the ground is far more balanced.

Confidence remains in the market

Paul Wood, Director of Thomas H Wood says:

“There’s been a lot of noise around the market recently, but it’s important not to rush into decisions based on headlines alone. Sellers should feel confident in their position.

“It’s still early days, and we are not seeing buyers being put off in the way we did during Covid, where people paused moving altogether and focused on extending instead. That’s simply not happening right now.

“At most, we are seeing some buyers delay their plans by a few weeks or months, but they are still actively looking because they need or want to move.”

Looking beyond the “reduced” labels

One trend many sellers will notice is the number of properties showing as “reduced” on portals like Rightmove. While this can appear concerning, it does not always tell the full story.

In many cases, reductions are part of a strategy to realign pricing after initial listings, rather than a sign of falling demand. Often, the adjustments are smaller than they first appear.

This is why getting the pricing right from the start is so important.

As highlighted in our recent market updates, properties that are priced correctly from day one are far more likely to secure interest quickly and avoid prolonged time on the market.

Cardiff remains a strong performer

Locally, Cardiff continues to show strong demand, particularly in North Cardiff and for family homes with three or more bedrooms, and even greater for detached and semi-detached.

These types of properties are currently in one of the strongest positions in the market, with consistent interest from buyers looking to upsize or relocate.

Paul Wood added:

“It ultimately comes down to having a realistic and fair valuation from the outset. That way, you are not in a position where you feel the need to chase reductions or question your property’s position as more homes come onto the market.

“In areas like North Cardiff, demand is still very strong, especially for three-bedroom homes and above. If you’re in that bracket, there’s no need to panic or rush into reducing your price.”

Expert guidance makes the difference

While national data provides a useful overview, every local market behaves slightly differently. Understanding what is happening street by street, and buyer by buyer, is key to making the right decisions.

At Thomas H Wood, we combine national insight with real-time local knowledge to guide our clients through changing conditions with confidence.

Whether you are thinking of selling, buying or simply want to understand where your property stands, our team is here to help you navigate the market with clarity and confidence.

Why choose Thomas H Wood to sell your property?

Choosing the right estate agent can make a real difference when bringing your home to market. At Thomas H Wood, we combine decades of local knowledge with a tailored approach to give every property the attention it deserves.

• 2025’s No.1 selling agent in CF14 according to Rightmove
• Service tailored to your needs
• In depth knowledge of the local market
• Strategic marketing for maximum exposure
• Skilled negotiation to achieve the best price

If you are thinking about selling this spring, book your free, no obligation valuation today. Call 02920 626252, visit thomashwood.com or pop into one of our branches.