House prices in Ceredigion have fallen despite the national rise, according to the latest data.

The cost of buying a house is still 10.5 per cent more than it was a year ago, but the latest data from the Principality Building Society shows that house prices in Ceredigion dropped by 5.7 per cent in the last quarter between June and September, with the average house price in the county now standing at £233,574.

The average cost of a detached house in the county now stands at £292,150 with a semi-detached setting you back £173,677, according to the House Price Index.

The average council tax bill in Ceredigion is £1,425 a year with a life satisfaction rating in the county of 7.3 out of 10.

Ceredigion is still the most expensive region in mid and west Wales with the average price of a house in Pembrokeshire slightly lower at £233,553.

The average house price in Gwynedd is currently £214,045 with Powys’ average coming in at £225,262.

Carmarthenshire has the lowest average house price in west Wales, currently standing at £193,735.

A snapshot of the housing market in Wales shows that house prices have gone up 11.5 per cent in the last 12 months, with a 1.4 per cent increase in the last quarter.

This marks the third quarter in a row when annual house price inflation has been in double-digit percentages – the strongest performance since the mid-2000s.

The average cost of a house in Wales now stands at £218,783 with a 52 per cent rise in transactions this year in comparison to 2020.

Carmarthenshire saw a 0.7 per cent rise in the third quarter of this year with house prices now 17 per cent higher on average than they were in 2020.

Pembrokeshire saw a quarterly increase of 1.2 per cent with the year-on-year figure now 10.1 per cent higher.

Powys and Gwynedd both saw a drop in the third quarter with Gwynedd prices falling 1.6 per cent and Powys recording a 4.1 per cent drop.

Despite the drop, the average cost of a house in Gwynedd is still 9.9 per cent more than it was 12 months ago and 5.5 per cent dearer in Powys.

Tom Denman, chief financial officer at Principality Building Society, said: “The Welsh housing market, like those elsewhere in the UK has outperformed expectations this year.

“Demand has been higher and more resilient than many expected, and although market support in the shape of the Land Transaction Tax holiday and furlough payments has now ended, the scale of pent-up demand has been such, aided by savings accumulated in lockdown and continued low mortgage rates, that the market has continued to flourish.

“Going into the fourth quarter and into 2022, we can see that price expectations have been lowered and the rate of growth has slowed.

“Clearly there is now an expectation that interest rates will rise in the near term, albeit on a modest basis, and that this will still have an impact for many households and not least those active in buying and moving homes.”