House prices in Wales have reached an all-time peak, with the average house price across the country now £186,699,a survey has found.

The figures have been released from Principality Building Society’s Wales House Price Index for October to December 2018, which shows the rise and fall of house prices in each of the 22 local authorities in Wales.

The average house price in Ceredigion was found to be £209,071 and the average house price in Powys is £211,484, while in Gwynedd it is £184,245 and in Pembrokeshire it is £193,661.

The new peak in Wales recorded in December is some £2,000 higher than the previous highest average in September 2018.

Price growth in the fourth quarter of 2018 slowed down to just 0.3 per cent compared with the previous quarter at 3.6 per cent, however, the number of house sales in 2018 compared to 2017 remain broadly the same at just over 48,000.

Tom Denman, chief financial officer at Principality Building Society, said: “There are a number of possible reasons why Welsh house prices are at an all-time high; interest rates are currently close to their historic low, the number of people in work is near an all-time high while average weekly earnings have risen above the rate of inflation.

“Welsh Government housing schemes have also helped would-be property owners onto, and up, the housing ladder."

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