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Where Are Wales’ Most Affordable Homes Located?

Last year, the Welsh government made buying a home more attractive by increasing the threshold for land transaction tax from £180,000 to £225,000. Since then, the average property price in Wales has hit £249,076. As a result, an increasing number of home buyers have been forced to pay land transaction tax. But by hunting for a home in some of the most affordable parts of the country, you could avoid paying this tax altogether. So, where are the most affordable homes in Wales located?
The South-East
There’s a lovely area in South-East Wales where property prices are affordable. If you want to be near Cardiff and the Vale of Glamorgan, but don’t want to pay the sky-high prices in these locations, nearby Rhondda Cynon Taff, Caerphilly, and Torfaen are much more affordable. Prices in Cardiff and the Vale of Glamorgan currently average between £250,000 and £265,000. Rhondda Cynon Taff, on the other hand, has an average property price of £138,550. Property can be picked up in Caerphilly for an average of £168,000, and Torfaen’s typical price is £176,000. You can even pick a property for as little as £125,000 in Blaenau Gwent, if you don’t mind being a little further away from the Capital.
Making sure your Welsh home is affordable
An affordable home in Wales is about more than its price tag. You might find the perfect property for a great price, but if it has lots of problems, then it’s going to cost you more in the long run. Property surveys are often referred to as a hidden cost of home buying. But they’re essential as they’ll pick up issues that could cost you a lot of money such as subsidence and damp.  A common inspection is drone surveying. This involves a drone inspecting the property for signs of damage. These are beneficial to buyers as they’re precise and can access hard-to-reach places, such as the roof of the property. A new roof can cost more than £40,000, which can make a property unaffordable for many people, so knowing what you’re dealing with before you buy is worth it.
Other areas to consider
The South-East may be the most affordable part of Wales, but the North is worth a look, too. In Gwynedd, property prices currently go for around £185,000, which is still significantly below the land transaction tax cap. Denbighshire is also attractive as properties typically sell for £180,000. If you want to live in Central Wales, some places are affordable and fall under the tax threshold. In Powys, £230,000 should get you a property. However, be careful not to get into a bidding war with another prospective buyer, as you could quickly find yourself paying more than the going rate and having to pay land transaction tax.
Wales is a great place to live and many areas across the country offer affordable housing. So, make sure you do your homework and find the best location for your needs when you’re next hunting for a home.