House prices increased by 2.5% – more than the average for Wales – in Powys in February, new figures show.
But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 1.7% annual decline.
The average Powys house price in February was £238,023, Land Registry figures show – a 2.5% increase on January.
Over the month, the picture was different to that across Wales, where prices increased 0.4%, and Powys was above the 0.4% rise for the UK as a whole.
Over the last year, the average sale price of property in Powys fell by £4,200 – putting the area 12th among Wales’s 22 local authorities with price data for annual growth.
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The highest annual growth in the region was in Ceredigion, where property prices increased on average by 3.5%, to £248,000. At the other end of the scale, properties in Newport lost 7.5% of their value, giving an average price of £220,000.
First-time buyers in Powys spent an average of £209,600 on their property – £3,000 less than a year ago, but £45,200 more than in February 2019.
By comparison, former owner-occupiers paid £264,900 on average in February – 26.4% more than first-time buyers.
Owners of semi-detached houses saw the biggest rise in property prices in Powys in February – they increased 2.8%, to £213,446 on average. Over the last year, prices dropped by 0.6%.
Among other types of property:
Detached: up 2.2% monthly; down 2.1% annually; £316,288 average
Terraced: up 2.6% monthly; down 1.8% annually; £165,748 average
Flats: up 2.1% monthly; down 4.4% annually; £98,590 average
Buyers in Powys paid 13% more than the average price in Wales (£211,000) in February for a property in Powys. Across Wales, property prices are low compared to those across the UK, where the average cost is £281,000.
The most expensive properties in Wales were in Monmouthshire – £333,000 on average, and 1.4 times the price as in Powys. Monmouthshire properties cost 2.6 times the price as homes in Blaenau Gwent (£127,000 average), at the other end of the scale.
Average property price in February
Powys: £238,023
Wales: £210,717
UK: £280,660
Annual change to February
Powys: -1.7%
Wales: -1.2%
UK: -0.2%
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