HOUSE prices increased by 0.9% – more than the average for Wales – in Wrexham in February, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.7% over the last year.
The average Wrexham house price in February was £205,932, Land Registry figures show – a 0.9% increase on January.
Over the month, the picture was similar to that across Wales, where prices increased 0.4%, and Wrexham was above the 0.4% rise for the UK as a whole.
Over the last year, the average sale price of property in Wrexham rose by £1,400 – putting the area fifth among Wales’s 22 local authorities with price data for annual growth.
The highest annual growth in the region was in Ceredigion, where property prices increased on average by 3.5%, to £248,000. At the other end of the scale, properties in Newport lost 7.5% of their value, giving an average price of £220,000.
First steps on the property ladder
First-time buyers in Wrexham spent an average of £179,300 on their property – £1,100 more than a year ago, and £43,900 more than in February 2019.
By comparison, former owner-occupiers paid £235,300 on average in February – 31.2% more than first-time buyers.
Property types
Owners of semi-detached houses saw the biggest rise in property prices in Wrexham in February – they increased 0.9%, to £188,450 on average. Over the last year, prices rose by 0.9%.
Among other types of property:
Detached: up 0.9% monthly; up 1.3% annually; £299,298 average
Terraced: up 0.7% monthly; down 0.3% annually; £155,763 average
Flats: up 0.8% monthly; down 0.2% annually; £103,489 average
How do property prices in Wrexham compare?
Buyers paid 2.3% less than the average price in Wales (£211,000) in February for a property in Wrexham. Across Wales, property prices are low compared to those across the UK, where the average cost is £281,000.
MOST READ
- Heartbreak and fury in battle over bench which is "far too close" to grave
- Exciting plans to breathe new life into old Original Factory Shop building
The most expensive properties in Wales were in Monmouthshire – £333,000 on average, and 1.6 times the price as in Wrexham. Monmouthshire properties cost 2.6 times the price as homes in Blaenau Gwent (£127,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in February
Wrexham: £205,932
Wales: £210,717
UK: £280,660
Annual change to February
Wrexham: +0.7%
Wales: -1.2%
UK: -0.2%
Highest and lowest annual growth in Wales
Ceredigion: +3.5%
Newport: -7.5%
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here