House prices in Wales have hit a record high, according to the latest data. Prices are up 9.9% on the same time last year, with the average cost of a house in Wales reaching nearly a quarter of a million pounds towards the end of 2022.
The Wales House Price Index from the Principality Building Society shows prices peaked at £249,076 in the final quarter of 2021 between October and December, with all but two local authorities in Wales experiencing a rise year-on-year. Pembrokeshire and Anglesey were the only areas to experience falls in price.
Cardiff was one of the areas with the highest annual change, with prices in the city rising by 9.2% compared to 2021. While this rise was not as steep as other areas, including Blaenau Gwent (29.2%) and Bridgend (18.4%), it means that the average house price in the capital is now £304,921.
