House prices dropped in Caerphilly in June, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 7.7% annual growth .
The average Caerphilly house price in June was £136,494, Land Registry figures show – a 1.9% decrease on May.
Over the month, the picture was worse than that across Wales, where prices increased 1.2% , and Caerphilly underperformed compared to the 0.7% rise for the UK as a whole.
Over the last year, the average sale price of property in Caerphilly rose by £9,800 – putting the area fifth among Wales’s 22 local authorities for annual growth.
The best annual growth in the region was in Monmouthshire, where properties increased on average by 13.6%, to £284,000. At the other end of the scale, properties in Ceredigion dropped 2.8% in value, giving an average price of £175,000.
Winners and Losers
Owners of flats fared worst in Caerphilly in June – they dropped 2.3% in price, to £83,375 on average . Over the last year, prices rose by 5.3%.
Among other types of property
Detached: down 2.0% monthly; up 7.9% annually; £221,354 average
Semi-detached: down 1.9% monthly; up 8% annually; £135,651 average
Terraced: down 1.8% monthly; up 7.5% annually; £111,951 average
First steps on the property ladder
First-time buyers in the county borough spent an average of £ 122,900 on their property – £8,700 more than a year ago, and £20,600 more than in June 2014.
By comparison, former owner-occupiers paid £ 155,500 on average in June – 26.6% more than first-time buyers.
How do property prices in Caerphilly compare?
Buyers paid 16.7% less than the average price in Wales (£ 164,000) in June for a property in Caerphilly. Across Wales, property prices are low compared to those across the UK, where the average cost £230,000.
The most expensive properties in Wales were in Monmouthshire – £284,000 on average, and more than twice as much as in Caerphilly. Monmouthshire properties cost more than three times as much as homes in Blaenau Gwent (£90,000 average), at the other end of the scale.