House prices dropped slightly in Powys in September, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 2.8% annual growth.
The average Powys house price in September was £196,122, Land Registry figures show – a 0.3% decrease on August.
Over the month, the picture was better than that across Wales, where prices decreased 1.9%, but Powys underperformed compared to the 1.7% rise for the UK as a whole.
Over the last year, the average sale price of property in Powys rose by £5,400 – putting the area 14th among Wales’s 22 local authorities for annual growth.
The best annual growth in the region was in Torfaen, where properties increased on average by 6.8%, to £161,000. At the other end of the scale, properties in the Vale of Glamorgan remained level at £231,000.
Winners and Losers
Owners of flats fared worst in Powys in September – they dropped 0.8% in price, to £84,158 on average. Over the last year, prices dropped by 1.4%.
Among other types of property:
Detached: down 0.1% monthly; up 2.7% annually; £261,003 average
Semi-detached: down 0.6% monthly; up 3.4% annually; £174,244 average
Terraced: down 0.3% monthly; up 2.8% annually; £136,618 average
First steps on the property ladder
First-time buyers in Powys spent an average of £172,300 on their property – £4,600 more than a year ago, and £26,300 more than in Sep-15.
By comparison, former owner-occupiers paid £218,700 on average in September – 27.0% more than first-time buyers.
How do property prices in Powys compare?
Buyers paid 15.0% more than the average price in Wales (£171,000) in September for a property in Powys. Across Wales, property prices are lower than those across the UK, where the average cost £245,000.
The most expensive properties in Wales were in Monmouthshire – £281,000 on average, and 1.4 times as much as in Powys. Monmouthshire properties cost 2.9 times as much as homes in Blaenau Gwent (£97,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average September sale price of £1.3 million could buy 15 properties in Burnley (average £88,000).
Factfile
Average property price in September
Powys: £196,122
Wales: £170,604
UK: £244,513
Annual growth to September
Powys: +2.8%
Wales: +3.8%
UK: +4.7%
Best and worst annual growth in Wales
Torfaen: +6.8%
The Vale of Glamorgan: 0.0%
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article