House prices in Wales have fallen slightly according to the latest data. While prices are up 5% compared to this time last year they have fallen by 1.6% since the end of 2022 with the average cost of a house in Wales now just under a quarter of a million pounds.
The Wales House Price Index from the Principality Building Society shows the average price was £245,101 in the first quarter of 2023 from January to March. All but two local authorities in Wales have experienced a rise since the start of 2022 with Gwynedd and Anglesey the only areas to experience falls in price.
Areas including Merthyr Tydfil (20%) and Bridgend (13%) experienced steep annual rises while prices in Cardiff also rose by 3.8% compared to March last year with the average house price in the capital now £300,095. However this is slightly down on last quarter when the average house in Cardiff cost £304,921.
