House prices dropped by 1.5% – more than the average for Wales – in Pembrokeshire in August, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 7.5% annual decline – the worst in Wales.

The average Pembrokeshire house price in August was £225,469, Land Registry figures show – a 1.5% decrease on July.

Over the month, the picture was different to that across Wales, where prices decreased 0.1%, and Pembrokeshire was lower than the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Pembrokeshire fell by £18,000 – putting the area bottom among Wales’s 22 local authorities with price data for annual growth.

The highest annual growth in the region was in the Vale of Glamorgan, where property prices increased on average by 8%, to £330,000.

First steps on the property ladder

First-time buyers in Pembrokeshire spent an average of £202,000 on their property – £17,000 less than a year ago, but £51,000 more than in August 2018.

By comparison, former owner-occupiers paid £251,000 on average in August – 24.2% more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices in Pembrokeshire in August – they dropped 2% in price, to £109,496 on average. Over the last year, prices dropped by 8.4%.

Among other types of property:

  • Detached: down 1.4% monthly; down 7% annually; £316,127 average
  • Semi-detached: down 1.4% monthly; down 7.5% annually; £199,588 average
  • Terraced: down 1.6% monthly; down 8.2% annually; £167,499 average

How do property prices in Pembrokeshire compare?

Buyers paid 4% more than the average price in Wales (£217,000) in August for a property in Pembrokeshire. Across Wales, property prices are low compared to those across the UK, where the average cost is £291,000.

The most expensive properties in Wales were in Monmouthshire – £361,000 on average, and 1.6 times the price as in Pembrokeshire. Monmouthshire properties cost 2.9 times the price as homes in Blaenau Gwent (£124,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).

Factfile

Average property price in August

  • Pembrokeshire: £225,469
  • Wales: £216,726
  • UK: £291,044

Annual change to August

  • Pembrokeshire: -7.5%
  • Wales: -0.1%
  • UK: +0.2%

Highest and lowest annual growth in Wales

  • The Vale of Glamorgan: +8%
  • Pembrokeshire: -7.5%