HOUSE prices increased slightly, by 0.2 per cent, in Monmouthshire in February, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.2 per cent annual growth.
The average Monmouthshire house price in February was £302,780, Land Registry figures show – a 0.2 per cent increase on January.
Over the month, the picture was better than that across Wales, where prices decreased 0.7 per cent, and Monmouthshire outperformed the UK as a whole, where prices did not change.
Over the last year, the average sale price of property in Monmouthshire rose by £28,000 – putting the area 13th among Wales’s 22 local authorities for annual growth.
The best annual growth in the region was in Blaenau Gwent, where property prices increased on average by 18.4 per cent, to £108,000. At the other end of the scale, properties in Flintshire lost 1.1 per cent of their value, giving an average price of £173,000.
Winners and Losers
Owners of flats saw the biggest improvement in property prices in Monmouthshire in February – they increased 1.2 per cent, to £154,023 on average. Over the last year, prices rose by 7.5 per cent.
Among other types of property:
Detached: down 0.1 per cent monthly; up 10.5 per cent annually; £434,606 average
Semi-detached: up 0.2 per cent monthly; up 10 per cent annually; £251,702 average
Terraced: up 0.4 per cent monthly; up 10.6 per cent annually; £206,451 average
First steps on the property ladder
First-time buyers in Monmouthshire spent an average of £235,000 on their property – £21,000 more than a year ago, and £63,000 more than in January 2016.
By comparison, former owner-occupiers paid £352,000 on average in February – 49.9 per cent more than first-time buyers.
How do property prices in Monmouthshire compare?
Buyers paid more for properties in Monmouthshire than anywhere else in Wales in February. The average price paid would buy 2.8 homes in Blaenau Gwent (£108,000), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average February sale price of £1.2 million could buy 13 properties in Hyndburn (average £92,000).
Across Wales, property prices are high compared to those across the UK, where the average cost £250,000.
Factfile
Average property price in February
Monmouthshire: £302,780
Wales: £179,861
UK: £250,341
Annual growth to February
Monmouthshire: +10.2 per cent
Wales: +8.4 per cent
UK: +8.6 per cent
Best and worst annual growth in Wales
Blaenau Gwent: +18.4 per cent
Flintshire: -1.1 per cent
Source data
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