House prices in Caerphilly County Borough dropped by 3.6% in October 2019, new figures reveal.
The average house price in October was £136,270, Land Registry figures show – a 3.6% decrease on September.
Compared to October 2018, the average price grew by just 0.1%.
Over the last year, the average sale price of property in Caerphilly rose by £70 – putting the area 20th among Wales’s 22 local authorities for annual growth.
The best annual growth in the region was in Merthyr Tydfil, where properties increased on average by 11.8%, to £117,000. At the other end of the scale, properties in Blaenau Gwent dropped 3.2% in value, giving an average price of £89,000.
Winners and Losers
Owners of flats fared worst in Caerphilly in October – they dropped 4.7% in price, to £82,639 on average . Over the last year, prices dropped by 2.4%.
Among other types of property
Detached: down 3.5% monthly; up 0.1% annually; £221,512 average
Semi-detached: down 3.4% monthly; up 0.3% annually; £135,442 average
Terraced: down 3.7% monthly; remained level over the year; £111,703 average
First steps on the property ladder
First-time buyers in Caerphilly spent an average of £ 122,631 on their property – £20 less than a year ago, and £22,191 more than in October 2014.
By comparison, former owner-occupiers paid £ 155,394 on average in October – 26.7% more than first-time buyers.
How do property prices in Caerphilly compare?
Buyers paid 18.0% less than the average price in Wales (£166,000) in October for a property in Caerphilly. Across Wales, property prices are low compared to those across the UK, where the average cost £233,000.
The most expensive properties in Wales were in Monmouthshire – £277,000 on average, and twice as much as in Caerphilly. Monmouthshire properties cost 3.1 times as much as homes in Blaenau Gwent (£89,000 average), at the other end of the scale.