House prices in Powys have fallen by an average of £11,000 over the past year, according to the latest Land Registry figures.

This represents a 4.8% drop in value, making it one of the poorest performing areas in Wales.

The average house price in Powys in June was £226,806, down 1.6% from May.

Is this part of a UK trend?

While prices in Powys have fallen, across Wales, house prices actually increased slightly by 0.3% in June. The UK as a whole saw a rise of 0.5%. This suggests that the issues in the Powys market are local rather than national.

Where are house prices rising and falling in Wales?

The largest annual price increase in Wales was in Monmouthshire, where prices rose by an average of 7.6% to £350,000. The biggest drop was in Merthyr Tydfil, where prices fell by 5.7% to an average of £146,000.

What does this mean for first-time buyers?

The good news for first-time buyers is that the average price they paid for a property in Powys in June was £200,300 – that’s £8,600 less than a year ago. However, this is still £43,000 more expensive than in June 2019.

Those buying their next property paid an average of £251,700 in Powys in June.

What type of property is most affected?

Detached houses in Powys experienced the most significant drop, with prices falling by 1.9% in June to an average of £298,827. Over the past year, prices for detached properties have plummeted by 5.9%.

Here’s a breakdown of price changes for other property types:

• Semi-detached: down 1.5% monthly; down 3.2% annually; average price £203,997
• Terraced: down 1% monthly; down 3.8% annually; average price £159,633
• Flats: down 1.7% monthly; down 7.4% annually; average price £94,602

How does Powys compare to the rest of Wales and the UK?

Despite the recent drop, house prices in Powys are still 5.2% higher than the Welsh average of £216,000.

Across Wales, property remains relatively affordable compared to the UK average of £288,000.

The most expensive area in Wales to buy property is Monmouthshire, with an average price of £350,000. That’s 2.5 times more expensive than Blaenau Gwent, the cheapest area, where the average house price is £138,000.