THE average house price in the Vale of Glamorgan has slumped by more than £20,000 in the last four years.

Data from the Land Registry shows that in April 2008, the average price of a Vale property was £170,688 – compared with £150,266 in April this year.

That makes the average slump £20,422 - but Rhys Williams, Associate Director of Priory Estates and Lettings on Broad Street, said some properties had lost as much as £40,000 from their asking prices.

"We have found that some areas in Barry, like the West End, have held their price a lot more," he said.

"A lot of them are close to £5,000 of what they were in 2008.

"But some houses in the East End of Barry have gone down by as much as £40,000.

"For example, a three-bedroom house on Vere Street that was worth about £110,000 could now be worth about £70,000; whereas a property on Westward Rise that was worth £220,000 is still probably worth between £215-210,000."

Most recent results from March to April this year show that across England and Wales, the average house price dropped by 0.3 per cent, with the average set at £160,417.

Sales figures also show that in April 2008, 131 properties were sold, whereas in April 2011, only 99 were sold.

Nina Chivers, director and owner of Nina Estate Agents on Broad Street, said: "Four years ago it was very buoyant and we were selling a few houses a day, whereas now we are selling a few houses a week.

"There are now lots of parents remortgaging their houses to help their children put down deposits. That’s the only way they are getting on to the property ladder.

"Sellers need to be realistic with their prices," she added.

Data from the Land Registry also shows that in the Vale, in April this year, the average cost of a detached house was £244,755, a semi-detached house was £139,367, a terraced house was £103,725 and a maisonette or flat was £111,040.

Average house prices in the Vale are currently at their lowest level since April 2004, when they were recorded at £137, 023.

But Priory's Mr Williams said that in the last 12 months sales had actually picked up.

"Last year we sold about 60 properties, whereas up until May this year we have already sold 42 properties," he said.