In early February, Gov.uk released the latest repossession figures which covered the period of October-December 2022. Repossessedhousesforsale.com has been reviewing the data and helping investors find hotspots when searching for repossessed properties for sale in 2023.
We’ve covered every region in England so our final deep dive looks at the latest repossession figures for Wales.
In total, Wales recorded 199 repossessed properties in 2022 which represented 7% of the UK total.
The latest Q4 figures showed that 53 repossessions were recorded which was a 141% increase from the same period as the previous year.
Cardiff had the highest number of repossessions across 2022 with 30. This is closely followed by Swansea (21), Rhondda Cynon Taf (19), Caerphilly (16) and Carmarthenshire (13).
When comparing the latest Q4 figures to the same period as the previous year, four areas in Wales saw an increase of 3 or more repossessions. These were Cardiff (+7), Carmarthenshire (7), Swansea (4) and Caerphilly (3).
In contrast, three areas recorded a YOY decrease which were Torfaen (-2), Isle of Anglesey (2) and Denbighshire (1).
Looking back against the previous quarter, three areas in saw an increase of 2 or more repossessions which were Cardiff (+6), Carmarthenshire (4) and Flintshire (2).
As Wales makes up for 7% of all repossessions in the UK, it’s important that we review it ad provide investors with hotspots when searching for repossessed properties in 2023. From looking at the data and the figures above, our recommendations are Cardiff, Swansea and Carmarthenshire.
Cardiff recorded 15 repossessed properties in 2022, the highest in Wales.
Q2 alone saw 7 repossessions recorded, accounting for 47% of the yearly total.
The latest figures show Q4 having 3 repossessed properties, resulting in an YoY increase of 3 compared to the 0 repossessions recorded in Q4 2021.
Swansea recorded 21 repossessed properties in 2022, the 2nd highest in Wales.
The city accounts for 11% of all repossessions in Wales recorded for 2022.
The latest figures show Q4 having 4 repossessed properties, which is up from the 0 repossessions recorded in the same period as last year.
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