House prices remained steady in Wrexham in October, new figures show.
The lack of movement maintains the longer-term trend, which has seen property prices in the area suffer a 5.6% annual decline.
The average Wrexham house price in October was £198,524, Land Registry figures show – largely unchanged from September.
Over the month, the picture was similar to that across Wales, where prices decreased 0.5%, and Wrexham was above the 0.7% drop for the UK as a whole.
Over the last year, the average sale price of property in Wrexham fell by £12,000 – putting the area 20th among Wales’s 22 local authorities with price data for annual growth.
The highest annual growth in the region was in the Vale of Glamorgan, where property prices increased on average by 3.1%, to £319,000. At the other end of the scale, properties in Merthyr Tydfil lost 10.9% of their value, giving an average price of £137,000.
First steps on the property ladder
First-time buyers in Wrexham spent an average of £172,000 on their property – £11,000 less than a year ago, but £34,000 more than in October 2018.
By comparison, former owner-occupiers paid £228,000 on average in October – 32.4% more than first-time buyers.
Property types
Owners of detached houses saw the biggest rise in property prices in Wrexham in October – they increased 0.2%, to £292,296 on average. Over the last year, prices dropped by 4.9%.
Among other types of property:
Semi-detached: up 0% monthly; down 5.5% annually; £180,673 average
Terraced: down 0.3% monthly; down 6.5% annually; £149,136 average
Flats: down 0.2% monthly; down 6.8% annually; £97,740 average
How do property prices in Wrexham compare?
Buyers paid 7.3% less than the average price in Wales (£214,000) in October for a property in Wrexham. Across Wales, property prices are low compared to those across the UK, where the average cost is £288,000.
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The most expensive properties in Wales were in Monmouthshire – £346,000 on average, and 1.7 times the price as in Wrexham. Monmouthshire properties cost 2.7 times the price as homes in Blaenau Gwent (£130,000 average), at the other end of the scale.
Factfile
Average property price in October:
Wrexham: £198,524
Wales: £214,100
UK: £287,782
Annual change to October:
Wrexham: -5.6%
Wales: -3%
UK: -1.2%
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