Welsh house prices 'rising fast'

The homes on Cefn Coed Road are all large detached houses

Wales is one of the most profitable areas in Britain to own and sell a home, according to a property survey.

Research by house price website mouseprice.com found Welsh property rose in value by 140% over six years, compared to 82% in London.

Wales' priciest street is Cefn Coed Road in Cyncoed, Cardiff, with an average house value of almost £700,000.

The rise in Welsh prices is second only to Yorkshire and Humber, where there was a 144% increase from 2000 to 2006.

The survey was based on Land Registry sale price statistics that were updated with details from estate agents.

People find out about them by word of mouth - the deals are done at the golf club Estate agent Tony Filice on Cefn Coed Road

The sharp increase in values since 2000 has seen people more than double their money in Wales when selling property, whereas property in the south-east of the UK has increased in value by 86.6%.

Wales' most expensive street is a wide road that runs from Roath Park Lake up a steep hill towards the university.

According to Tony Filice, a partner at Kelvin Francis estate agents, Cyncoed is one of the most desirable areas in Cardiff, along with Lisvane and Llandaff.

He said the average price was so high in Cefn Coed Road because it had mainly large, detached houses.

"There are other roads where properties are equally expensive, but combined with semi-detached or terraced houses the average price is lower," he said.

TOP TEN EXPENSIVE STREETS Cefn Coed Road, Cardiff, £698,467 Twyncyn, Dinas Powys, £677,767 Sherborne Walk, Blackpill, £650,980 Druidstone Road, Old St Mellons, £645,120 Cefn Mably Park, Michaelston Y Fedw, £637,847 Village Walks Marford, £635,643 Mill Road, Llanishen, £613,315 Millwood, Lisvane, £613,250 Coombe Lea, Catbrook, £594,367 Stella Maris Close, Radyr, £587,700 Source: mouseprice.com

Mr Filice, a fellow of the Royal Institute of Chartered Surveyors, said the area was sought after because of the large houses, good schools and closeness to the park.

"The dwellings that are there tend to be substantial, old stock Edwardian and 1930s properties.

"The record for the most expensive house there in the last 12 months was about £1.3m, but it's very rare for a property on Cefn Coed to come on the open market.

"People find out about them by word of mouth - the deals are done at the golf club. They tend to change hands on that basis."

The properties tended to be bought by dentists, doctors, lawyers, or people who had made money selling their companies, he added.