Average Powys house price falls by just over one per cent

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 4.5 per cent over the last year.

The average Powys house price in March was £245,202, Land Registry figures show, a 1.2 per cent decrease on February.

Over the month, the picture was different to that across Wales, where prices decreased 0.6 per cent.

Over the last year, the average sale price of property in Powys rose by £11,000 – putting the area 16th among Wales’s 22 local authorities with price data for annual growth.

OTHER NEWS

• Powys man's “absolute nightmare” as seven-month wait to fix broken arm goes on
• Dad narrowly avoids immediate prison for repeatedly driving while disqualified
• Plague of pigeons 'slowly wrecking' five-star Newtown B&B, says owner

The highest annual growth in the region was in Neath Port Talbot, where property prices increased on average by 11.2 per cent, to £167,000. At the other end of the scale, properties in Gwynedd lost 3.8 per cent of their value, giving an average price of £198,000.

First-time buyers in Powys spent an average of £213,800 on their property – £8,600 more than a year ago, and £53,800 more than in March 2018.
By comparison, former owner-occupiers paid £275,200 on average in March – 28.7 per cent more than first-time buyers.

Owners of terraced houses saw the biggest fall in property prices Powys in March – they dropped 1.6 per cent in price, to £167,773 on average. But over the last year, prices rose by 4.3 per cent.

Want to stay up to date with all the latest stories from Powys? Click here to sign up for our morning and daily email newsletters and click on the + for the ‘Morning Briefing’ and the 'Daily Catch-Up'.