House prices increased by 2.9% – more than the average for Wales – in Pembrokeshire in August, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 6.5% over the last year.

The average Pembrokeshire house price in August was £237,801. Land Registry figures show a 2.9% increase on July.

Over the month, the picture was similar to that across Wales, where prices increased 2.6%, and Pembrokeshire was above the 1.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Pembrokeshire rose by £15,000 – putting the area second among Wales’s 22 local authorities with price data for annual growth.

The highest annual growth in the region was in Blaenau Gwent, where property prices increased on average by 7.4%, to £135,000. At the other end of the scale, properties in Gwynedd lost 3.4% of their value, giving an average price of £201,000.

First steps on the property ladder

First-time buyers in Pembrokeshire spent an average of £217,000 on their property – £16,000 more than a year ago, and £57,000 more than in August 2019.

By comparison, former owner-occupiers paid £261,000 on average in August – 20.5% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Pembrokeshire in August – they increased 3.6%, to £181,488 on average. Over the last year, prices rose by 7.5%.

Among other types of property:

  • Detached: up 2.3% monthly; up 4.8% annually; £323,867 average
  • Semi-detached: up 3.1% monthly; up 8.3% annually; £212,333 average
  • Flats: up 3.6% monthly; up 5.8% annually; £120,821 average

How do property prices in Pembrokeshire compare?

Buyers paid 6.7% more than the average price in Wales (£223,000) in August for a property in Pembrokeshire. Across Wales, property prices are low compared to those across the UK, where the average cost is £293,000.

The most expensive properties in Wales were in Monmouthshire – £354,000 on average, and 1.5 times the price as in Pembrokeshire. Monmouthshire properties cost 2.6 times the price as homes in Blaenau Gwent (£135,000 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 August

  • Pembrokeshire: £237,801
  • Wales: £222,925
  • UK: £292,924

Annual growth to August

  • Pembrokeshire: +6.5%
  • Wales: +3.5%
  • UK: +2.8%

Highest and lowest annual growth in Wales

  • Blaenau Gwent: +7.4%
  • Gwynedd: -3.4%