Voted the UK’s most sociable city, Cardiff boasts a host of independent businesses, exciting events and vibrant cultural attractions. The proximity Cardiff has to several rural Welsh locations helps it stand out amongst other UK capitals. While the city is relatively small compared to other UK cities, this gives Cardiff a friendly and welcoming feel. With a growing scene of young professionals and students, along with a rich history, buying a property in Cardiff is becoming more and more popular with investors. It is quickly becoming a prime location for investing in property. Here, we explore some of the benefits of Cardiff property investment.
Cardiff History and Culture
From its roots as a small market town to its colossal port status in the 1900s, the capital city of Wales has consistently transformed over its history. Since Neolithic times, Cardiff has had human occupation with continuous settlement during the Bronze Age and Iron Age. Cardiff Castle has evidence of Roman construction, and in 1091, the ancient castle was rebuilt by Robert Fitzhamon. You can still see Cardiff’s long and varied history when walking down its streets.
The City Hall is one of the world’s most beautiful civic centres, and the beloved Cardiff Animal Wall was completed in 1892. The Victorian arcades of the Castle Quarter still house traditional independent businesses too. During Cardiff’s industrial prime, canals were running across most of the city. There are still some visible and underground. Cardiff was granted city status on 28 October 1905, and it has continued to grow and flourish.
Cardiff has a vibrant and dynamic art scene with many unique art spaces. Street art has continued to be a visible sign of Cardiff’s culture. The ‘Empty Walls’ festival brought over 20 street artists to the city centre to create a unique outdoor gallery, while the multi-artform cultural space – Chapter – is a state-of-the-art venue with over 80,000 visitors a year. This unique project is a Cardiff culture hub with more than 30 studio spaces and a cinema and gallery. St Fagans National Museum of History is the most visited heritage attraction in Wales, boasting over 50 rebuilt buildings from around Wales.
Regeneration and House Prices Cardiff
The Welsh Capital has a strong history of regeneration. In 1987, the Cardiff Bay Development Corporation was launched to regenerate the 1,100 hectares of derelict docklands sitting in Cardiff and Penarth. This formed one of the biggest regeneration schemes seen in both Wales and the entire UK. Thanks to the Cardiff Bay Development Corporation, the project is currently Europe’s largest waterfront development and is filled with a range of bars, restaurants and attractions.
Other key regeneration schemes include the redevelopment and investment into Cardiff transport. Recent Cardiff investment of £1 billion into the South Wales metro has made commuting into and around the city far easier. There have been numerous efforts to invest in Cardiff transport links to the rest of the country and around the city. Transport links are incredibly important for workers, making Cardiff an excellent place to live.
The regeneration seen throughout the city has likely helped contribute to the growth of house prices in Cardiff and the rise in popularity of Cardiff investment. In January 2020, it was recorded that house prices in Cardiff had increased more than any other Welsh city, with a growth of 41.2% over the last decade.
The Welsh Capital has seen some fantastic growth this year. In March 2023, Cardiff house prices sat at £256,993 on average, which was over 6% higher than in early 2022. As of 2024, Savills’ property price predictions reveal that house prices in Wales are set to grow by 21.4% by 2028 – a higher growth than London’s expected negative increase of 13.9%. This means that house prices in Cardiff will continue to grow over the coming years, making it an ideal place for buy-to-let investments.