First time buyers hit as Powys house prices increase

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.3pc over the past year.

The average Powys house price in June was £242,261, Land Registry figures show – a 0.5pc increase on May.

Over the month, the picture was similar to that across Wales, where prices increased 0.2pc, but Powys was lower than the 0.7pc rise for the UK as a whole.

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Over the last year, the average sale price of property in Powys rose by £810 – putting the area 15th among Wales’s 22 local authorities with price data for annual growth.

The highest annual growth in the region was in Merthyr Tydfil, where property prices increased on average by 9.9pc, to £162,000. At the other end of the scale, properties in Pembrokeshire lost 6.1pc of their value, giving an average price of £227,000.

First-time buyers in Powys spent an average of £211,860 on their property – £280 more than a year ago, and £56,060 more than in June, 2018.

By comparison, former owner-occupiers paid £271,310 on average in June – 28.1pc more than first-time buyers.