House prices dropped by 1.7% – more than the average for Wales – in Pembrokeshire 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 1.5% over the last year.

The average Pembrokeshire house price in January was £235,578, Land Registry figures show – a 1.7% decrease on December.

Over the month, the picture was different to that across Wales, where prices decreased 0.1%, and Pembrokeshire was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Pembrokeshire rose by £3,500 – putting the area fourth among Wales’s 22 local authorities with price data for annual growth.

The highest annual growth in the region was in Ceredigion, where property prices increased on average by 4.8%, to £264,000. At the other end of the scale, properties in Newport lost 6.7% of their value, giving an average price of £222,000.

First steps on the property ladder

First-time buyers in Pembrokeshire spent an average of £212,900 on their property – £3,900 more than a year ago, and £55,700 more than in January 2019.

By comparison, former owner-occupiers paid £260,800 on average in January – 22.5% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in Pembrokeshire in January – they dropped 1.8% in price, to £176,356 on average. But over the last year, prices rose by 0.9%.

Among other types of property:

How do property prices in Pembrokeshire compare?

Buyers paid 10.6% more than the average price in Wales (£213,000) in January for a property in Pembrokeshire. Across Wales, property prices are low compared to those across the UK, where the average cost is £282,000.

The most expensive properties in Wales were in Monmouthshire – £332,000 on average, and 1.4 times the price as in Pembrokeshire. 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

Annual change to January

Highest and lowest annual growth in Wales