House prices dropped by 1% in Wrexham in March, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 2.2% annual decline.

The average Wrexham house price in March was £199,556. Land Registry figures show a 1% decrease on February.

Over the month, the picture was different to that across Wales, where prices increased 0.9%, and Wrexham was lower than the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Wrexham fell by £4,500 – putting the area 16th among Wales’s 22 local authorities with price data for annual growth.

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The highest annual growth in the region was in Ceredigion, where property prices increased on average by 4%, to £244,000. At the other end of the scale, properties in Merthyr Tydfil lost 13.7% of their value, giving an average price of £131,000.

First-time buyers in Wrexham spent an average of £173,600 on their property – £3,900 less than a year ago, but £40,000 more than in March 2019.

By comparison, former owner-occupiers paid £228,200 on average in March – 31.4% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in Wrexham in March – they dropped 1.4% in price, to £150,834 on average. Over the last year, prices dropped by 2.7%.

Among other types of property:

Detached: down 0.5% monthly; down 1.6% annually; £291,201 average

Semi-detached: down 1.2% monthly; down 2.3% annually; £182,122 average

Flats: down 0.9% monthly; down 3.2% annually; £100,040 average

How do property prices in Wrexham compare?

Buyers paid 6.6% less than the average price in Wales (£214,000) in March for a property in Wrexham. Across Wales, property prices are low compared to those across the UK, where the average cost is £283,000.

The most expensive properties in Wales were in Monmouthshire – £340,000 on average, and 1.7 times the price as in Wrexham. Monmouthshire properties cost 2.6 times the price as homes in Merthyr Tydfil (£131,000 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 March:

Wrexham: £199,556

Wales: £213,753

UK: £282,776

Annual change to March:

Wrexham: -2.2%

Wales: +1.3%

UK: +1.8%