House prices increased slightly, by 0.3%, in Monmouthshire in July, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 5.4% over the last year.

The average Monmouthshire house price in July was £357,560, Land Registry figures show – a 0.3% increase on June.

Over the month, the picture was different to that across Wales, where prices increased 1.1%, and Monmouthshire was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Monmouthshire rose by £18,000 – 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 Merthyr Tydfil, where property prices increased on average by 10.6%, to £163,000. At the other end of the scale, properties in Anglesey lost 6.7% of their value, giving an average price of £226,000.

First steps on the property ladder

First-time buyers in Monmouthshire spent an average of £276,000 on their property – £13,000 more than a year ago, and £74,000 more than in July 2018.

By comparison, former owner-occupiers paid £417,000 on average in July – 51.3% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Monmouthshire in July – they increased 0.4%, to £240,281 on average. Over the last year, prices rose by 4.5%.

Among other types of property:

How do property prices in Monmouthshire compare?

Buyers paid more for properties in Monmouthshire than anywhere else in Wales in July. The average price paid would buy 2.8 homes in Blaenau Gwent (£129,000), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Across Wales, property prices are low compared to those across the UK, where the average cost is £290,000.

Factfile

Average property price in July

Annual change to July

Highest and lowest annual growth in Wales