House prices increased slightly, by 0.2%, in Pembrokeshire in February, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 3.5% annual decline.

The average Pembrokeshire house price in February was £227,062, Land Registry figures show – a 0.2% increase on January.

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

Over the last year, the average sale price of property in Pembrokeshire fell by £8,300 – putting the area 16th 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 3.5%, to £248,000. At the other end of the scale, properties in Newport lost 7.5% of their value, giving an average price of £220,000.

First steps on the property ladder

First-time buyers in Pembrokeshire spent an average of £205,400 on their property – £6,600 less than a year ago, but £50,600 more than in February 2019.

By comparison, former owner-occupiers paid £251,100 on average in February – 22.3% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Pembrokeshire in February – they increased 0.5%, to £202,267 on average. Over the last year, prices dropped by 2.2%.

Among other types of property:

How do property prices in Pembrokeshire compare?

Buyers paid 7.8% more than the average price in Wales (£211,000) in February for a property in Pembrokeshire. Across Wales, property prices are low compared to those across the UK, where the average cost is £281,000.

The most expensive properties in Wales were in Monmouthshire – £333,000 on average, and 1.5 times the price as in Pembrokeshire. Monmouthshire properties cost 2.6 times the price as homes in Blaenau Gwent (£127,000 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 February

Annual change to February

Highest and lowest annual growth in Wales