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This publication is available at https://www.gov.uk/government/publications/uk-house-price-index-wales-march-2018/uk-house-price-index-wales-march-2018
1. Headline statistics for March 2018
the average price of a property in Wales was
the annual price change of a property for Wales was
the monthly price change of a property for Wales was
the index figure for Wales (January 2015 = 100) was
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.
Next publication of UK HPI
The April 2018 UK HPI will be published at 9.30am on Wednesday 13 June 2018. See the calendar of release dates.
2. Economic statement
Wales house prices grew by 3.5% in the year to March 2018, down from 5.0% in the year to February 2018. Wales house prices are growing slightly slower than the UK annual rate of 4.2% in the year to March 2018. On a seasonally adjusted basis, average house prices in Wales decreased by 0.1% between March 2018 and February 2018, compared with an increase of 1.3% during the same period a year earlier.
The UK Property Transaction Statistics for March 2018 showed that on a non-seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater in Wales is 20.5% lower compared to a year ago. Between February 2018 and March 2018, transactions increased by 11.6%.
Across Wales, all property types showed an increase in average price in March 2018 when compared with the same month in the previous year. Detached houses showed the biggest increase, rising by 4.3% in the year to March 2018 to £234,000. The average price of terraced houses showed an increase of 2.9% in the year to March to £117,000, the smallest increase of all property types.
House prices have increased over the last year in 20 out of 22 local authority areas.
As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.
3. Price change
3.1 Annual price change
Annual price change for Wales over the past 5 years
In Wales, the average price increased by 3.5% in the year to March 2018 (down from 5.0% in February 2018).
Annual price change by local authority for Wales
Low numbers of sales transactions in some local authorities can lead to volatility in the series.
While we make efforts to account for this volatility, the change in price in these local levels can be influenced by the type and number of properties sold in any given period.
Geographies with low number of sales transactions should be analysed in the context of their longer-term trends rather than focusing on monthly movements.
|Local authorities||March 2018||March 2017||Difference|
|Isle of Anglesey||£162,256||£163,950||-1.0%|
|Neath Port Talbot||£111,208||£107,237||3.7%|
|Rhondda Cynon Taf||£96,375||£100,100||-3.7%|
|Vale of Glamorgan||£223,208||£204,157||9.3%|
Average price by local authority for Wales
In March 2018, the most expensive area to live in was Monmouthshire, where the cost of an average house was £258,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where an average house cost £84,000.
3.2 Average price change by property type
Average price change by property type for Wales
|Property type||March 2018||March 2017||Difference|
|Flat or maisonette||£110,764||£107,477||3.1%|
4. Sales volumes
Due to a period of 2 to 8 weeks between completion and registration of sales, volume figures for the most recent two months are not yet at a reliable level for reporting, so they are not included in the report.
Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read Revisions to the UK HPI data for more information.
4.1 Sales volumes by local authority
Sales volumes for Wales by local authority
|Local authorities||January 2018||January 2017||Difference|
|Isle of Anglesey||69||65||6.2%|
|Neath Port Talbot||115||119||-3.4%|
|Rhondda Cynon Taf||205||241||-14.9%|
|Vale of Glamorgan||126||143||-11.9%|
4.2 Sales volumes
Sales volumes for Wales over the past 5 years
|Date||Sales volumes for Wales|
Download this chart’s data (CSV, 1KB)
5. Property status
New build and existing resold property for Wales
|Property status||Average price January 2018||Monthly change||Annual change|
|Existing resold property||£149,752||-0.5%||4.3%|
Note: since the October 2017 release, amendments have been made to our estimation model when calculating our provisional estimate. Find out further information and the impact of this change in methods used to produce the UK HPI.
6. Buyer status
First time buyer and former owner occupier for Wales
|Type of buyer||Average price March 2018||Monthly change||Annual change|
|First time buyer||£131,548||-0.3%||3.0%|
|Former owner occupier||£178,196||0.2%||4.1%|
7. Funding status
Cash and mortgage indicator for Wales
|Funding status||Average price March 2018||Monthly change||Annual change|
8. Repossession sales volume
Due to a period of 2 to 8 weeks between completion and registration of sales, repossession volume figures for the most recent two months are not yet complete, so they are not included in the report.
Repossession sales volume
|Country||Repossession sales volume January 2018|
Download the data for England and Wales (CSV, 7KB)
9. Access the data
10. About the UK House Price Index
The UK House Price Index (UK HPI) is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. Find out about the methodology used to create the UK HPI.
Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.
Find out more about the UK House Price Index.
11. Contact for Wales queries
David Lockett, Product Manager, HM Land Registry
Telephone 0300 0068317