House prices fall in Wales

Wales is the only country in the UK where prices have fallen year on year in the first quarter of 2015, according to a Nationwide Building Society survey.

At £139,171 on average, prices in Wales are down by 0.5 per cent year on year.

Meanwhile, UK property values are 5.1 per cent higher than a year ago and stood at £189,454 on average in March.

But the annual pace of house price growth has been slowing for seven months in a row, and has reached less than half the rate of growth seen for much of last summer, when the year-on-year increase was in double digits.

On a month-on-month basis, house prices edged up by 0.1 per cent in March, following a 0.1 per cent decrease in February.

Nationwide said that all regions except the North of England have seen a further slowing in the annual pace of house price growth during the first three months of this year.

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