The Welsh housing market re-accelerated from a relatively weak first quarter, with particular strength in South Wales, Nationwide has reported.

Even so, Nationwide said the 7.4% annual rate of growth is considerably below the UK average, and this has been the case for the past four quarters.

- Average house price: £154,969
- Annual percentage increase: 7.4%
- Quarterly change (seasonally adjusted): 2.6%
- Most expensive area: Cardiff
- Least expensive area: South Wales (West)
- Area with strongest price growth: South Wales (East)
- Area with weakest price growth: North Wales

Fionnuala Earley, Nationwide’s Chief Economist, said: “Compared to the previous quarter, prices rose by 2.6%, a relatively strong performance on a national comparison. Within Wales, South Wales (East) saw double digit growth, while the four other sub-regions all saw single-digit growth. North Wales was the most subdued, with growth of only 3% over the past year.

Despite only modest growth, Cardiff remains the most expensive place to buy in Wales, and is the only local authority where the price of an average house exceeds £200,000. At £168,317, the average house in Swansea is comparably inexpensive.”