New figures from the Office for National Statistics have revealed that the average house price in Ceredigion has increased by £25,000 over the past year.

The UK’s house price statistics have been published by the Office for National Statistics (ONS) today.

According to the statistics, the median house price in Ceredigion is £225,000 as of March 2022, compared to £200,000 in March 2021.

The rise represents a £60,000 increase since March 2012, when the average Ceredigion house price was £165,000.

The cheapest place to buy a house in Ceredigion is Cardigan-Teifi, where the average house price is £102,500, down from last year’s £116,500.

The most expensive house-buying area averages nearly three times as much, with Aberporth’s median house price sitting at £300,000 - a £70,000 increase from March 2021’s £230,000.

In Aberystwyth, the cheapest area on average is Penparcau, where the median house price is £161,375, slightly up from £161,000 in March 2021.

The most expensive area in Aberystwyth to buy a house is Bronglais, with median prices at £249,000 - the same price as this time last year.

Elsewhere in Aberystwyth, house prices average £170,000 in the centre, having risen from £166,250, £176,500 in the north, down from £233,500, and £190,000 in Rheidol, up from £182,500.

In Lampeter, house prices dropped over the past year, from £160,000 to £147,475, and in Tregaron, the average rose from £145,000 to £168,000.

The ONS explained how the data is collected: “The house price statistics for small areas (HPSSAs) use data from HM Land Registry.

“This is to provide statistics on the price paid and the number of residential property transactions for properties sold in each area in England and Wales.

“Properties sold at a discount to the market level, such as properties sold under the Right to Buy scheme, are not included in these statistics.”

The ONS also analysed how many property sales were made in the area in the period, reporting 963 residential property sales in Ceredigion in the year ending March 2022 - the third lowest of anywhere in Wales.

This is a slight increase on March 2021’s total of 952, but is a drop from the results of the year ending December 2021, which showed 1,087 sales in that period.