House prices dropped by 0.3% – more than the average for Wales – in Wrexham in January, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 0.8% over the last year.
The average Wrexham house price in January was £205,611, Land Registry figures show – a 0.3% decrease on December.
Over the month, the picture was similar to that across Wales, where prices decreased 0.1%, and Wrexham was lower than the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in Wrexham rose by £1,700 – putting the area sixth among Wales’s 22 local authorities with price data for annual growth.
First-time buyers in Wrexham spent an average of £178,900 on their property – £1,300 more than a year ago, and £43,600 more than in January 2019.
By comparison, former owner-occupiers paid £234,900 on average in January – 31.3% more than first-time buyers.
Property types
Owners of terraced houses saw the biggest fall in property prices in Wrexham in January – they dropped 0.5% in price, to £155,671 on average. Over the last year, prices dropped by 0.1%.
Among other types of property:
Detached: down 0.2% monthly; up 1.4% annually; £299,060 average
Semi-detached: down 0.4% monthly; up 0.9% annually; £187,766 average
Flats: down 0.1% monthly; up 0.8% annually; £103,625 average
How do property prices in Wrexham compare?
Buyers paid 3.5% less than the average price in Wales (£213,000) in January for a property in Wrexham. Across Wales, property prices are low compared to those across the UK, where the average cost is £282,000.
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The most expensive properties in Wales were in Monmouthshire – £332,000 on average, and 1.6 times the price as in Wrexham. Monmouthshire properties cost 2.4 times the price as homes in Blaenau Gwent (£136,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, at £1.2 million.
Factfile
Average property price in January:
- Wrexham: £205,611
- Wales: £213,063
- UK: £281,913
Annual change to January:
- Wrexham: +0.8%
- Wales: -0.8%
- UK: -0.6%
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