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1. Headline statistics for March 2023

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.

2. Economic statement

Average house prices in Wales increased by 4.8% in the 12 months to March 2023. This was down from 6.4% in the 12 months to February 2023 and was faster than the average UK house price annual inflation of 4.1% in the 12 months to March 2023.

On a non-seasonally adjusted basis, average house prices in Wales decreased by 0.6% between February 2023 and March 2023, compared with an increase of 0.9% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Wales decreased by 0.8% between February 2023 and March 2023.

Comparing the provisional volume estimate for January 2022 with the provisional estimate for January 2023, the volume of transactions increased by 9.9% in Wales and by 9.3% in the UK.

In Wales, 19 local authority areas showed an increase in average house prices in the 12 months to March 2023. Neath Port Talbot showed the highest annual percentage change, rising by 11.2% to 拢167,000 in the 12 months to March 2023. In contrast, Gwynedd showed the lowest annual percentage change, decreasing by 3.8% to 拢198,000 in the 12 months to March 2023.

In Wales, semi-detached houses showed the largest annual inflation out of all property types, rising by 5.8% in the 12 months to March 2023 to 拢209,000. Flats and maisonettes showed the lowest annual inflation, rising by 3.7% in the 12 months to March 2023, to an average price of 拢135,000.

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鈥檚 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, average prices increased by 4.8% in the 12 months to March 2023, down from 6.4% in February 2023.

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 2023	March 2022	Difference
Blaenau Gwent	拢134,952	拢126,705	6.5%
Bridgend	拢200,123	拢190,811	4.9%
Caerphilly	拢184,321	拢174,455	5.7%
Cardiff	拢265,993	拢249,065	6.8%
Carmarthenshire	拢212,963	拢192,596	10.6%
Ceredigion	拢237,992	拢246,362	-3.4%
Conwy	拢213,712	拢203,355	5.1%
Denbighshire	拢203,762	拢195,011	4.5%
Flintshire	拢219,793	拢201,403	9.1%
Gwynedd	拢198,497	拢206,348	-3.8%
Isle of Anglesey	拢225,380	拢225,419	0.0%
Merthyr Tydfil	拢153,749	拢140,236	9.6%
Monmouthshire	拢358,234	拢338,352	5.9%
Neath Port Talbot	拢167,435	拢150,516	11.2%
Newport	拢236,026	拢224,294	5.2%
Pembrokeshire	拢236,511	拢229,763	2.9%
Powys	拢245,202	拢234,682	4.5%
Rhondda Cynon Taf	拢156,358	拢144,051	8.5%
Swansea	拢192,021	拢183,920	4.4%
Torfaen	拢200,079	拢186,912	7.0%
Vale of Glamorgan	拢309,774	拢301,481	2.8%
Wrexham	拢205,829	拢191,152	7.7%
Wales	拢214,174	拢204,321	4.8%

Average price by local authority for Wales

In March 2023, the most expensive area to purchase a property was Monmouthshire, where the average cost was 拢358,000. In contrast, the cheapest area to purchase a property was Blaenau Gwent, where the average cost was 拢135,000.

3.2 Average price change by property type

Average price change by property type for Wales

Property type	March 2023	March 2022	Difference
Detached	拢331,364	拢314,626	5.3%
Semi-detached	拢209,424	拢197,942	5.8%
Terraced	拢164,845	拢158,656	3.9%
Flat or maisonette	拢135,001	拢130,183	3.7%
All	拢214,174	拢204,321	4.8%

4. Sales volumes

The amount of time between the sale of a property and the registration of this information varies. It typically ranges between 2 weeks and 2 months but can be longer. Volume figures for the most recent 2 months are not yet at a reliable level for reporting, so they are not included in the report. Published transactions for recent months will increase as later registered transactions are incorporated into the index.

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

Comparing the provisional volume estimate for the current month with the revised volume estimate for the corresponding month in the previous year

Local authorities	January 2023	January 2022
Blaenau Gwent	48	61
Bridgend	97	145
Caerphilly	113	158
Cardiff	241	313
Carmarthenshire	115	201
Ceredigion	34	72
Conwy	90	117
Denbighshire	74	105
Flintshire	105	169
Gwynedd	74	125
Isle of Anglesey	44	64
Merthyr Tydfil	38	45
Monmouthshire	55	79
Neath Port Talbot	85	132
Newport	120	172
Pembrokeshire	77	116
Powys	73	107
Rhondda Cynon Taf	157	220
Swansea	144	220
Torfaen	64	97
Vale of Glamorgan	80	128
Wrexham	73	123
Wales	2,001	2,969

Comparing the provisional volume estimate for January 2022 with the provisional estimate for January 2023, volume transactions increased by 9.9% in Wales.

UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that on a non-seasonally adjusted basis, volume transactions decreased by 17.0% in Wales in the 12 months to January 2023.

4.2 Sales volumes

Sales volumes for Wales over the past 5 years

Change to table and accessible view

Date	Sales volumes for Wales
January 2019	3,070
January 2020	3,171
January 2021	3,173
January 2022	2,969
January 2023	2,001

5. Property status

Transactions involving the creation of a new register, such as new builds, are more complex and need more time to process. This means they can take longer to appear in the land registers. The volume of new build transactions for the most recent 2 months are not at a reliable level for reporting the breakdown between new build and existing resold property, so they are not included in the report.

New build and existing resold property for Wales

Property status	Average price January 2023	Monthly change	Annual change
New build	拢315,748	-3.5%	11.0%
Existing resold property	拢211,201	-2.5%	5.4%

6. Buyer status

First time buyer and former owner occupier for Wales

Type of buyer	Average price March 2023	Monthly change	Annual change
First time buyer	拢183,813	-0.6%	4.7%
Former owner occupier	拢250,140	-0.5%	5.0%

7. Funding status

Cash and mortgage indicator for Wales

Funding status	Average price March 2023	Monthly change	Annual change
Cash	拢206,353	-0.4%	4.2%
Mortgage	拢218,650	-0.7%	5.1%

8. Repossession sales volume

Due to a period of 2 weeks to 2 months between completion and registration of sales, repossession volume figures for the most recent 2 months are not yet complete, so they are not included in the report.

Repossession sales volume

Country	Repossession sales volume January 2023
Wales	1

9. Access the data

Download the data as CSV files or access it with .

Data revisions

View any revisions to previously published data in the data downloads or find out more about revisions in our guidance About the UK HPI.

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, , and the Valuation Office Agency.

Find out more about the UK House Price Index.

11. Contact for Wales queries