House prices dropped in Gwynedd but rose in Anglesey in December, figures show

HOUSE prices fell in Gwynedd in December but increased slightly in Anglesey, new figures have shown.

In Gwynedd, the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 6.1 per cent annual growth – though still the lowest in Wales.

Meanwhile, Anglesey’s boost contributes to the longer-term trend, which has seen property prices in the area achieve 14.3 per cent annual growth.

The average Gwynedd house price in December was £187,001, Land Registry figures show – a 1.3 per cent decrease on November.

The average Anglesey house price in December was £224,057, Land Registry figures show – a 0.2 per cent increase on November.

During the month, the picture was worse than that across Wales, where prices increased by two per cent, and Gwynedd and Anglesey both underperformed compared to the 0.8 per cent rise for the UK as a whole.

In the last year, the average sale price of a property in Gwynedd and Anglesey rose by £11,000 and £28,000 respectively – putting the areas bottom and ninth respectively 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 per cent, to £294,000.

Owners of flats fared worst in Gwynedd in December – they dropped by 2.2 per cent in price, to £110,694 on average.

But in the last year, prices rose by 4.1 per cent.

Among other types of property:

• Detached: down 1 per cent monthly; up 7.2 per cent annually; £278,392 average

• Semi-detached: down 1.3 per cent monthly; up 7.3 per cent annually; £191,504 average

• Terraced: down 1.4 per cent monthly; up 4.7 per cent annually; £142,970 average

Owners of detached houses saw the biggest improvement in property prices in Anglesey in December – they increased 0.5 per cent, to £300,488 on average.

In the last year, prices rose by 15.6 per cent.

Among other types of property:

• Semi-detached: down 0.1 per cent monthly; up 14.6 per cent annually; £191,436 average

• Terraced: down 0.1 per cent monthly; up 12.4 per cent annually; £150,904 average

• Flats: down 0.5 per cent monthly; up 9.3 per cent annually; £136,214 average

Meanwhile, first-time buyers in Gwynedd spent an average of £163,100 on their property – £9,000 more than a year ago, and £33,000 more than in December 2016.

By comparison, former owner-occupiers paid £214,800 on average in December – 31.7 per cent more than first-time buyers.

First-time buyers in Anglesey spent an average of £188,000 on their property – £23,000 more than a year ago, and £53,000 more than in December 2016.

By comparison, former owner-occupiers paid £257,000 on average in December – 36.8 per cent more than first-time buyers.

How do property prices in Gwynedd and Anglesey compare?

Buyers paid 8.7 and 9.4 per cent more than the average price in Wales (£205,000) in December for a property in Gwynedd and Anglesey respectively.

Across Wales, property prices are roughly the same as those across the UK, where the average cost £275,000.

The most expensive properties in Wales were in Monmouthshire – £330,000 on average.

Average property price in December

• Gwynedd: £187,001

• Anglesey: £224,057

• Wales: £204,835

• UK: £274,712

Annual growth to December

• Gwynedd: +6.1 per cent

• Anglesey: +14.3 per cent

• Wales: +13 per cent

• UK: +10.8 per cent

North Wales Chronicle | Anglesey