House prices fall in Wales, rise in Swansea
HOUSE prices are on the rise in Swansea — bucking the trend, as they fell across Wales as a whole.
In Wales they fell by £2,001 in the past 12 months, according to an industry index.
But in Swansea average prices rose from £146,273 in December 2011 to £149,520 December last year — up 2.2 per cent.
In Carmarthenshire they fell from £137,261 to £136,726 (-0.4 per cent). The figures were more stark in Neath Port Talbot, with a fall of 3.2 per cent from £108,602 to £105,165.
The director of a South West Wales estate agent said home owners should be encouraged by greater movement in the market.
LSL/Acadametrics Wales House Price Index said that the average price was £151,573, down 1.3 per cent year on year. In December prices fell £597.
However, Nigel Jones, director of John Francis, said anyone selling a house should not be too worried about the fall.
"That figure is an average across the country," he said. "There will have been greater falls and some modest increases.
"It's more important that more properties are selling. Last year our sales went up 7 per cent — so people are buying houses. Early indications this year are that this trend is continuing. There is movement and we expect more properties to be sold."
Oliver Blake, managing director of UK- wide estate agents Reeds Rains said: "December figures show the Welsh housing market has regressed back to the low point it was at last September. All of the gains made during autumn have fizzled out and prices have slumped £2,000 in twelve months.
"Average house price figures show a sluggish trail, as they fall by £597 monthly and slide backwards to where they stood last September. In light of the small uptick in November, disappointingly the small steps of improvement have disappeared. House prices are lower than they were two years ago and are £393 below the average house price in 2008, and that doesn't even take inflation into account."