The past few months have been busy so we are a little late in putting together our monthly House Price Index for Ceredigion, Pembrokeshire and Carmarthenshire. The data below shows figures up until the end of December 2023 as the Land Registry always works 2-3 months behind because it takes so long to register new sales.

To follow the trends of our last reports, the graphs below show figures from June 2019 to December 2023. By keeping an eye on the stats we can spot trends in the property market to help owners make informed decisions on when to market or when to make price adjustments.

Despite the figures below, it is worth noting that the market has been pretty busy over the last two months with lots of buyer activity. We agreed sales on six properties throughout January, all at the lower end of the property market. However, interestingly in February, which is normally a quiet month for sales, we have agreed sales on eight properties, which have almost all been in the higher end of the property market. This leads us to believe that buyer confidence could be returning, most likely due to a stabilization in interest and mortgage rates. With spring approaching and the best-selling months ahead of us, this is hopefully a good sign of what lies ahead.

The Zoopla and Rightmove reports show the House Price Index for the whole of the UK, and below highlight our local area prices and trends.

CEREDIGION:

We can see the percentage change has dropped considerably in the county year-on-year to -11.4%, down from 2.0% since September (a drop of 13.4%). The average monthly percentage change is down 8.8%, (from 1.7% September to -7.1 in December%). The average house price in Ceredigion has also decreased from £261,888 to £233,387 (which is a sizeable drop of £28,501): 

PEMBROKESHIRE:

In Pembrokeshire, house prices also decreased slightly from an average of £242,698 to £244,317 (down by £1,619). Year-on-year percentages have increased to 2%, up from -1.7% since September. However there has been a decrease  in the percentage monthly change from 5.8% in September to -1.9% in December (a drop of 7.7%):

CARMARTHENSHIRE:

Carmarthenshire has seen the most positive changes where house prices have increased overall from an average house price value of £199,940 in September to £203,726 (a rise of £3,786), with a monthly percentage increase of 3.7% (from -1.6% in September up to -2.1% December) with a year-on-year drop –4.2% down from -2.9% in September – but it is worth noting that the year-on-year percentage did drop down to -6.4%  in November to recover by 2.2% to the December figure of -4.2:

All of this shows the downward trend is continuing, for now. We will carry on monitoring and reporting this every month.

A note from the Land Registry: 

CURRENT INDEX

As of December 2023, the average house price in the UK is £284,691 and the index stands at 149.3. Property prices have risen by 0.1% compared to the previous month, and fallen by 1.4% compared to the previous year. For more info on the House Price Index please CLICK HERE

*Land Registry Figures are found here – Ceredigion, Pembrokeshire, Carmarthenshire true as of December 2023