House prices dropped by 1.6% in Powys in June, new figures show.
The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 4.8% annual decline.
The average Powys house price in June was £226,806, Land Registry figures show – a 1.6% decrease on May.
Over the month, the picture was different to that across Wales, where prices increased 0.3%, and Powys was lower than the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in Powys fell by £11,000 – putting the area 21st among Wales’s 22 local authorities with price data for annual growth.
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The highest annual growth in the region was in Monmouthshire, where property prices increased on average by 7.6%, to £350,000. At the other end of the scale, properties in Merthyr Tydfil lost 5.7% of their value, giving an average price of £146,000.
First-time buyers in Powys spent an average of £200,300 on their property – £8,600 less than a year ago, but £43,000 more than in June 2019.
By comparison, former owner-occupiers paid £251,700 on average in June – 25.7% more than first-time buyers.
Owners of detached houses saw the biggest fall in property prices in Powys in June – they dropped 1.9% in price, to £298,827 on average. Over the last year, prices dropped by 5.9%.
Among other types of property:
Semi-detached: down 1.5% monthly; down 3.2% annually; £203,997 average
Terraced: down 1% monthly; down 3.8% annually; £159,633 average
Flats: down 1.7% monthly; down 7.4% annually; £94,602 average
How do property prices in Powys compare?
Buyers paid 5.2% more than the average price in Wales (£216,000) in June for a property in Powys. Across Wales, property prices are low compared to those across the UK, where the average cost is £288,000.
The most expensive properties in Wales were in Monmouthshire – £350,000 on average, and 1.5 times the price as in Powys. Monmouthshire properties cost 2.5 times the price as homes in Blaenau Gwent (£138,000 average), at the other end of the scale.
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