House prices remained steady in Monmouthshire in December, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area grow by 14.2% over the last year.

The average Monmouthshire house price in December was £361,326, Land Registry figures show – largely unchanged from November.

Over the month, the picture was different to that across Wales, where prices increased 0.7%, and Monmouthshire was above the 0.4% drop for the UK as a whole.

Over the last year, the average sale price of property in Monmouthshire rose by £45,000 – putting the area sixth among Wales’s 22 local authorities with price data for annual growth.

The highest annual growth in the region was in Blaenau Gwent, where property prices increased on average by 23.3%, to £143,000. At the other end of the scale, properties in Conwy gained 2.5% in value, giving an average price of £211,000.

The average UK house price was £294,000 in December 2022, which was £26,000 higher than 12 months earlier.

It meant prices increased by 9.8% annually in December, slowing from 10.6% annual growth in November, according to the Office for National Statistics.

First steps on the property ladder

First-time buyers in Monmouthshire spent an average of £280,000 on their property – £36,000 more than a year ago, and £89,000 more than in December 2017.

By comparison, former owner-occupiers paid £421,000 on average in December – 50.2% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Monmouthshire in December – they increased 1.1%, to £175,726 on average. Over the last year, prices rose by 14%.

Among other types of property:

How do property prices in Monmouthshire compare?

Buyers paid more for properties in Monmouthshire than anywhere else in Wales in December. The average price paid would buy 2.5 homes in Blaenau Gwent (£143,000), at the other end of the scale.

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

Across Wales, property prices are high compared to those across the UK, where the average cost £294,000.

Factfile

Average property price in December

Annual growth to December

Highest and lowest annual growth in Wales