Welsh house prices ‘rise faster than UK average’

WALES House prices in Wales are growing at a faster rate than the UK average, official figures show. Across the UK, house prices increased by 3.5% in the year to September to reach £233,000 on average, figures released jointly by the Office for National Statistics (ONS), Land Registry and other bodies show. Prices were unchanged month on month. Annual house-price growth in Wales and Scotland was faster than that in England and Northern Ireland, the report said. House prices in Wales increased by 5.8% in the year to September, taking the average property value to £162,000. Scotland saw the same rise, with average house prices growing to £153,000. House prices in England increased by 3% annually, taking the average property value there to £249,000. House prices in Northern Ireland increased by 4.8% over the year to £135,000 on average. Within England, house prices in London fell by 0.3% annually. London house prices have fallen over the year each month since March 2018. At the other end of the spectrum, property values in the Midlands saw the strongest growth among England’s regions, with prices in the West Midlands rising by 6.1% annually and those in the East Midlands increasing by 6% annually. While annual price growth in the south and east of England is slowing, they remain the most expensive areas to buy.