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Last Updated: Monday, 9 August, 2004, 05:58 GMT 06:58 UK
Property prices soar in Wales
Estate Agents
The value of property in Wales has increased more than 27%
House prices in Wales are rising at almost three times the rate of those in the south east of England, according to latest figures.

The value of property in Wales has increased more than 27% over a 12 month period.

Blaenau Gwent saw the strongest rise across Wales and England at 59%.

This contrasts with a year ago, when properties there were the cheapest in Wales.

Statistics from the Land Registry published on Monday also show that there has been a 40% increase in prices in Neath, Port Talbot and Swansea.

The average cost of a house across Wales and England now stands at more than 175,000.

The cheapest property in England and Wales is in Merthyr Tydfil - with an average price of just under 65,000, followed by Kingston upon Hull at 65,582.

Kensington and Chelsea has the most expensive homes, at an average of 702,553, with 173 properties there selling for more than 1m.

A survey by property website, assertahome.com, found that 35% of house hunters now expect property prices to fall during the coming 12 months.

This compared with 9% in January, while only 57% expect prices to continue rising.

This is in line with June's prediction, but well down on the 6.6% rise people expected to see over the coming 12 months in May.

House prices show sharp increase
08 Aug 04  |  Business

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