House prices dropped by 0.9% – more than the average for Wales – in Wrexham in February, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 13.3% annual growth.

The average Wrexham house price in February was £197,476, Land Registry figures show – a 0.9% decrease on January.

Over the month, the picture was similar to that across Wales, where prices decreased 0.7%, and Wrexham underperformed compared to the 0.5% rise for the UK as a whole.

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Over the last year, the average sale price of property in Wrexham rose by £23,000 – putting the area 12th among Wales’s 22 local authorities with price data for annual growth.

The best annual growth in the region was in Merthyr Tydfil, where property prices increased on average by 22.7%, to £148,000. At the other end of the scale, properties in Flintshire gained just 9.1% in value, giving an average price of £201,000.

Winners and Losers

Owners of terraced houses fared worst in Wrexham in February – they dropped 1.1% in price, to £147,937 on average. But over the last year, prices rose by 11.9%.

Among other types of property:

Detached: down 0.9% monthly; up 15.1% annually; £291,717 average

Semi-detached: down 1% monthly; up 12.7% annually; £178,125 average

Flats: down 0.2% monthly; up 11.7% annually; £101,545 average

First steps on the property ladder

First-time buyers in Wrexham spent an average of £171,000 on their property – £19,000 more than a year ago, and £38,000 more than in February 2017.

By comparison, former owner-occupiers paid £227,000 on average in February – 32.9% more than first-time buyers.

How do property prices in Wrexham compare?

Buyers paid 3.7% less than the average price in Wales (£205,000) in February for a property in Wrexham. Across Wales, property prices are lower than those across the UK, where the average cost £277,000.

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The most expensive properties in Wales were in Monmouthshire – £337,000 on average, and 1.7 times as much as more than in Wrexham. Monmouthshire properties cost 2.8 times as much as homes in Blaenau Gwent (£122,000 average), at the other end of the scale..

Factfile

Average property price in February

Wrexham: £197,476

Wales: £205,114

UK: £276,755

Annual growth to February

Wrexham: +13.3%

Wales: +14.2%

UK: +10.9%

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