Are House Prices Falling in Cardiff?

The Cardiff property market, like much of the UK, has seen significant volatility in recent years. With the cost-of-living crisis, rising mortgage rates, and shifting demand patterns, it’s understandable that many homeowners and prospective buyers are wondering if house prices in Cardiff are falling.

In short, while prices fell in 2024, the picture is far more complex in 2025. This blog delves into the current state of Cardiff’s housing market, the reasons for recent price movements, and what this means if you’re looking to sell your home quickly in Cardiff.

Price drops in 2024

In early 2024, average house prices in Cardiff fell significantly, outpacing declines throughout Wales. According to the recent government data, Cardiff house prices fell 5.6% year on year in the first quarter of 2024, with a quarterly drop of 7.9% — one of the sharpest declines among major Welsh cities.

Many sellers found this period difficult. Properties took longer to sell, and many owners had to lower their asking prices to attract serious buyers. Some homeowners even chose to postpone putting their properties on the market altogether.

Cardiff’s market bounces back in 2025

Despite a difficult start to the year, Cardiff’s housing market showed signs of resilience in the second half of 2024. By December, average house prices in the city had rebounded to around £276,000, up 5.6% from the same month in 2023. This recovery outpaced the Welsh average, which rose only 3.0% during the same time period. Analysts believe Cardiff’s market is entering a period of greater stability, with more modest price growth expected in 2025.

Property type breakdown – what’s going up?

Not all property types in Cardiff have been equally affected by the recent market changes. Here’s a snapshot of how different parts of the market are performing:

• Flats and maisonettes saw the most significant recovery in late 2024, with prices rising 9.0% year on year. The average price reached around £176,000. This increase may indicate a shift in buyer preference for more affordable options and urban living.
• Terraced Houses: Terraced properties, a popular choice for first-time buyers and investors, now have an average price of £257,000 in Cardiff, reflecting moderate growth.
• Semi-detached houses: Prices increased by 4.2%, with the average now at £321,000, indicating steady demand from families.
• Detached Houses: Cardiff’s detached homes continue to command the highest prices, averaging around £523,000 — though growth in this category has slowed compared to previous years.

How does Cardiff compare to the rest of Wales?

Interestingly, while Cardiff experienced an initial drop followed by a sharp rebound, other areas of Wales saw more consistent growth.

According to Wales Online, the areas with the fastest rising house prices include:

• Ceredigion
• Merthyr Tydfil
• Pembrokeshire

These regions experienced more sustained growth, thanks in part to remote workers choosing coastal or rural properties with more space and lower prices than the capital. Nonetheless, Cardiff remains the most expensive place to buy in Wales, and its recovery reflects a renewed interest in urban convenience, local amenities, and career prospects.

Long-term outlook for cardiff

Despite short-term turbulence, Cardiff’s long-term property performance is strong. Over the last decade, the city has seen:

• Semi-detached house prices increase by 66.5%
• Terraced homes increase by 63.9%
• Detached homes increase by 53.9%
• Flats grow more modestly, by 27.1%

This sustained growth demonstrates Cardiff’s resilience and continued appeal as a place to live, invest, and work.

Should you sell your home in Cardiff now?

If you are thinking about selling your home, timing is everything. While 2024 may have been a less favourable time, the market has since stabilised, and buyer demand is returning. This is especially true for flats, terraced houses, and properties priced under £300,000, where affordability remains a major factor.

Selling during a recovery can be beneficial, especially if you’re relocating or downsizing. However, be aware of market conditions and consider working with a property expert who can assist you in achieving a quick, chain-free sale at the right price.

If you want to sell your home quickly in Cardiff, now could be the time to act — before any potential interest rate changes or new tax policies disrupt market sentiment again.

Need to sell your home in Cardiff quickly?

At Sell House Fast, we can sell your property in Cardiff quickly and effortlessly. By opting for a cash house buyer, you can sidestep the uncertainty of waiting for a buyer to come along, as well as the hassle of never-ending viewings. Plus, cash transactions are usually much faster than waiting for a mortgage approval, and you’ll receive your money within days. To top it all off, you won’t have to worry about chains breaking, which is a common way that traditional sales get derailed. Contact us today to get your free cash offer.