Mixed picture on Welsh house market

House price inflation continued to slow in Wales during the first quarter and now stands at only 1.0% year-on-year. Welsh house price growth has now been below the UK average for ten consecutive quarters.

Nationwide said that within Wales, not all sub-regions have seen the rate of house price growth decelerate.

Annual house price growth in Cardiff, for example, remained stable at 4% during the first quarter, while house price growth in Mid & West Wales actually increased slightly. This contrasts with a relatively weak performance in South Wales. Price growth fell from 9% to 3% in South Wales East, and from 0% to -1% year-on-year in South Wales West.

Average house price: £151,499
Annual percentage change: 1.0%
Quarterly change (seasonally adjusted): -1.8%
Most expensive area: Cardiff
Least expensive area: South Wales (West)
Area with strongest annual price growth: Mid & West Wales
Area with weakest annual price growth: South Wales (West)