House prices increased by 1.6% – more than the average for Wales – in Powys in July, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 0.5% annual decline.

The average Powys house price in July was £233,809. Land Registry figures show a 1.6% increase on June.

Over the month, the picture was different to that across Wales, where prices increased 1.1%, and Powys was above the 0.6% rise for the UK as a whole.

Over the last year, the average sale price of property in Powys fell by £1,200 – putting the area 16th among Wales’s 22 local authorities with price data for annual growth.

The highest annual growth in the region was in Monmouthshire, where property prices increased on average by 10%, to £363,000. At the other end of the scale, properties in Gwynedd lost 3.8% of their value, giving an average price of £196,000.

First steps on the property ladder

First-time buyers in Powys spent an average of £206,242 on their property – £77 less than a year ago, but £47,069.909 more than in July 2019.

By comparison, former owner-occupiers paid £259,786 on average in July – 26% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Powys in July – they increased 1.8%, to £308,504 on average. Over the last year, prices dropped by 1.2%.

Among other types of property:

How do property prices in Powys compare?

Buyers paid 7.2% more than the average price in Wales (£218,000) in July for a property in Powys. Across Wales, property prices are low compared to those across the UK, where the average cost is £290,000.

The most expensive properties in Wales were in Monmouthshire – £363,000 on average, and 1.6 times the price as in Powys. Monmouthshire properties cost 2.8 times the price as homes in Blaenau Gwent (£131,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in July

Annual change to July

Highest and lowest annual growth in Wales