HOUSE prices in Wrexham rose in 2018 despite a drop during the final quarter, with the average house price for the county now £171,373.

The figures have been released today from Principality Building Society’s Wales House Price Index for Q4 2018, which shows the rise and fall of house prices in each of the 22 local authorities in Wales.

While the average house price in Wrexham has fallen by 3.6 per-cent in the last quarter, annually it has risen by 4.1 per-cent, £7,197 higher than December 2017.

The average house price across the whole of Wales reached a new peak in December 2018 at £186,699, some £2,000 higher than the previous peak in September 2018.

In north Wales, Conwy had the highest growth in average house price over the quarter, rising by 6.3% to an average price of £185,807.

Tom Denman, chief financial officer at Principality Building Society, said: “There are a number of possible reasons why Welsh house prices are at an all-time high - interest rates are currently close to their historic low, the number of people in work is near an all-time high while average weekly earnings have risen above the rate of inflation. Welsh Government housing schemes have also helped would-be property owners onto, and up, the housing ladder.

“We know from a recent survey we did that a quarter of people in Wales admit Brexit is affecting whether they buy or sell a home. Brexit has undoubtedly affected the market but so far hasn’t dampened the market in Wales as much as England, with the number of property sales estimated to be on a par with last year. Affordability of homes in the country compared to areas of south-west England is likely to have helped growth, along with supply and demand.”