Pembrokeshire house prices beat Wales average in January

Wednesday 23rd March 2022 12:02 pm
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 File photo dated 14/10/14 of estate agents boards.
(PA )

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House prices increased by 1.5% – more than the average for Wales – in Pembrokeshire in January, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 17.9% annual growth.

The average Pembrokeshire house price in January was £234,796, Land Registry figures show – a 1.5% increase on December.

Over the month, the picture was similar to that across Wales, where prices increased 1.3%, and Pembrokeshire outperformed the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Pembrokeshire rose by £36,000 – putting the area fourth among Wales’s 22 local authorities with price data for annual growth.

The best annual growth in the region was in the Vale of Glamorgan, where property prices increased on average by 20.8%, to £297,000. At the other end of the scale, properties in Flintshire gained just 7.2% in value, giving an average price of £199,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Pembrokeshire in January – they increased 1.7%, to £115,837 on average. Over the last year, prices rose by 12.5%.

Among other types of property:

Detached: up 1.3% monthly; up 19.2% annually; £329,890 averageSemi-detached: up 1.6% monthly; up 18.6% annually; £207,348 averageTerraced: up 1.6% monthly; up 16.3% annually; £173,635 average

First steps on the property ladder

First-time buyers in Pembrokeshire spent an average of £210,000 on their property – £31,000 more than a year ago, and £63,000 more than in January 2017.

By comparison, former owner-occupiers paid £262,000 on average in January – 24.4% more than first-time buyers.

How do property prices in Pembrokeshire compare?

Buyers paid 13.8% more than the average price in Wales (£206,000) in January for a property in Pembrokeshire. Across Wales, property prices are higher than those across the UK, where the average cost £274,000.

The most expensive properties in Wales were in Monmouthshire – £328,000 on average, and 1.4 times as much as more than in Pembrokeshire. Monmouthshire properties cost 2.7 times as much as homes in Blaenau Gwent (£121,000 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 January

  • Pembrokeshire: £234,796
  • Wales: £206,251
  • UK: £273,762

Annual growth to January

  • Pembrokeshire: +17.9%
  • Wales: +13.9%
  • UK: +9.6%

Best and worst annual growth in Wales

  • The Vale of Glamorgan: +20.8%
  • Flintshire: +7.2%

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