House prices dropped in Conwy in November, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 4.5% annual growth .
The average Conwy house price in November was £167,380, Land Registry figures show – a 2.9% decrease on October.
Over the month, the picture was worse than that across Wales, where prices increased 3.5% , and Conwy underperformed compared to the 0.4% rise for the UK as a whole.
Over the last year, the average sale price of property in Conwy rose by £7,200 – putting the area 13th among Wales’s 22 local authorities for annual growth.
The best annual growth in the region was in Pembrokeshire, where properties increased on average by 10.4%, to £185,000. At the other end of the scale, properties in Torfaen gained 0.2% in value, giving an average price of £148,000.
Winners and Losers
Owners of terraced houses fared worst in Conwy in November – they dropped 3.2% in price, to £129,888 on average . But over the last year, prices rose by 4.5%.
Among other types of property:
Detached: down 3.1% monthly; up 4.5% annually; £234,820 average
Semi-detached: down 2.7% monthly; up 5.2% annually; £161,446 average
Flats: down 2.8% monthly; up 3.2% annually; £106,300 average
First steps on the property ladder
First-time buyers in Conwy spent an average of £ 145,600 on their property – £6,100 more than a year ago, and £18,300 more than in November 2014.
By comparison, former owner-occupiers paid £ 189,400 on average in November – 30.0% more than first-time buyers.
How do property prices in Conwy compare?
Buyers paid 3.0% less than the average price in Wales (£173,000) in November for a property in Conwy. Across Wales, property prices are low compared to those across the UK, where the average cost £235,000.
The most expensive properties in Wales were in Monmouthshire – £270,000 on average, and 1.6 times as much as in Conwy. Monmouthshire properties cost 2.9 times as much as homes in Blaenau Gwent (£94,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average November sale price of £1.2 million could buy 14 properties in Burnley (average £84,000).
Average property price in November
Conwy: £167,380
Wales: £172,574
UK: £235,298
Annual growth to November
Conwy: +4.5%
Wales: +7.8%
UK: +2.2%
Best and worst annual growth in Wales
Pembrokeshire: +10.4%
Torfaen: +0.2%
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