House prices in Wales have risen again and are up nearly 10% on the same time last year. The average price of a house in Wales is now £233,361, with an annual rise of 9.7% and a 3% increase on the last quarter.
The Wales House Price Index from the Principality Building Society shows prices rose to £233,361 in the first quarter of 2022 (January-March) with every Welsh local authority but one experiencing a rise in house prices when compared annually. Denbighshire is the only area to have seen an annual decline with prices there 6% lower than they were last year.
However elsewhere in Wales a handful of areas recorded double-digit percentage increases. Pembrokeshire, Merthyr Tydfil, Ceredigion, Carmarthenshire, and Blaenau Gwent all saw annual rises of more than 13% while house prices in Monmouthshire were 18.8% higher than they were 12 months ago. Property portal Rightmove says Wales is in the grip of a "spring market frenzy".
