HOUSE prices dropped by 2.7 per cent in the Vale of Glamorgan in August, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 16.8 per cent annual growth.

The average the Vale of Glamorgan house price in August was £277,082, Land Registry figures show – a 2.7 per cent decrease on July.

Over the month, the picture was worse than that across Wales, where prices increased 2.8%, and the Vale of Glamorgan underperformed compared to the 2.9% rise for the UK as a whole.

Over the last year, the average sale price of property in the Vale of Glamorgan rose by £40,000 – putting the area seventh among Wales’s 22 local authorities for annual growth.

The best annual growth in the region was in Pembrokeshire, where property prices increased on average by 23.9 per cent, to £222,000. At the other end of the scale, properties in Monmouthshire gained 1.2% in value, giving an average price of £295,000.

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Winners and Losers

Owners of flats fared worst in the Vale of Glamorgan in August – they dropped 3.4 per cent in price, to £166,528 on average. But over the last year, prices rose by 12.4 per cent.

Among other types of property:

Detached: down 2.2 per cent monthly; up 19.7 per cent annually; £463,589 average

Semi-detached: down 2.7 per cent monthly; up 15.5 per cent annually; £281,096 average

Terraced: down 2.8 per cent monthly; up 16.9 per cent annually; £218,331 average

First steps on the property ladder

First-time buyers in the Vale of Glamorgan spent an average of £230,000 on their property – £32,000 more than a year ago, and £56,000 more than in August 2016.

By comparison, former owner-occupiers paid £319,000 on average in August – 38.7 per cent more than first-time buyers.

How do property prices in the Vale of Glamorgan compare?

Buyers paid 42.4 per cent more than the average price in Wales (£195,000) in August for a property in the Vale of Glamorgan. Across Wales, property prices are higher than those across the UK, where the average cost £264,000.

The most expensive properties in Wales were in Monmouthshire – £295,000 on average, and 6 per cent in the Vale of Glamorgan. Monmouthshire properties cost 2.6 times as much as homes in Blaenau Gwent (£112,000 average), at the other end of the scale.

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


Average property price in August

The Vale of Glamorgan: £277,082

Wales: £194,575

UK: £264,244

Annual growth to August

The Vale of Glamorgan: +16.8 per cent

Wales: +12.5 per cent

UK: +10.6 per cent

Best and worst annual growth in Wales

Pembrokeshire: +23.9 per cent

Monmouthshire: +1.2 per cent