HOUSE prices across Newport have taken a dip in recent months, according to new Wales-wide data.

The latest Principality House Price Index, released this month, looks at trends of growth and decline in the housing market, including average house prices.

The data measures this annually– September 2016 - September 2017 – but also on the most recent quarter this year, July – September.

Data reveals that nineteen councils have seen an average rise in annual growth over the last year, while eight of 22 local authorities have seen a fall over the last three months.

Out of Gwent’s five local authorities, Newport was the only one to see a decline in both annual and quarterly figures with an average house price of £173,389.

This included a 0.6 per cent decline over the year and 1.8 per cent decline over the last quarter.

The average house price in Monmouthshire was £252,508 and saw rises in both annual (1.0 per cent) and quarterly (1.4 per cent) figures.

Torfaen saw a 2.5 per cent increase over the year and a 0.4 per cent increase in the last quarter with an average house price of £151,398.

Caerphilly’s figures were promising, with an average house price of £144, 395, a five per cent increase in the last year and 5.2 per cent increase over the last quarter.

But Blaenau Gwent – despite having a 5.3 per cent increase over the last year – had the biggest drop in Gwent with 3.5 per cent over the last quarter.

It also boasted the lowest average house price in Wales at £97,399.

Chief Finance Officer at Principality Building Society, Tom Denman, said: “We saw a clear bounce back in the housing market across Wales as people continue to take advantage of favourable low interest rates and high employment.

“There are record levels of first time buyers across the UK and it is clear that while areas such as London are seeing a drop-in house prices, the Welsh market has been stable.

“However, sluggish wage growth and the Bank of England’s broad hints that it will increase interest rates in November, means there is still a prevailing sense of caution that the market will continue the modest growth we have seen during the past couple of years.”