Latest prices in Monmouthshire for Detached properties
The latest figures show that the average price for a Detached property in Monmouthshire has now reached £476,828 as of Feb 2024. This value is based upon the average value of completed property transactions in the month of February.
Average prices for a Detached property have increased substantially over the longer term in Monmouthshire. Back in January 1995, prices for this type of property averaged £91,041 based on sales at the time. Fast forward to January 2024, and averages reached £475,044 - representing a growth of 422% over 29 years.
This substantial triple-digit percentage rise in Detached property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Detached homes in Monmouthshire over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
Detached prices in Monmouthshire over the last 12 months
Date
Price
Apr 2023
£525,295
May 2023
£516,356
Jun 2023
£508,087
Jul 2023
£516,646
Aug 2023
£523,468
Sep 2023
£529,124
Oct 2023
£524,445
Nov 2023
£489,743
Dec 2023
£475,765
Jan 2024
£475,044
Jan 2024
£475,044
Feb 2024
£476,828
Recent trends for prices in Monmouthshire
The latest figures from February 2024 indicate the property market in Monmouthshire continues to show rising price trends. Compared to January, 2024, average prices increased by 2.5% to £332,921. On an annual basis, average property prices have decreased -1.9% since 12 months ago.
In terms of sales activity, there were 60 residential property transactions completed in Monmouthshire during February, 2024. Of these purchases, 28 were financed with a mortgage while 14 were all-cash sales. For cash buyers, average prices have changed by 2.2% since January, 2024, coming in at around £316,431. For properties purchased with a mortgage, the average price changed by 2.6% since January, 2024, to £343,355.
Compared to the overall picture in its national parent Wales, the average property price in Monmouthshire are higher than the current national average of £210,717. While Monmouthshire saw a change of 2.5% over the last month, Wales as a whole recorded a percentage change of 0.4% in average property values. And on an annual basis, prices across Wales have contracted by -1.2%, more than the -1.9% yearly change seen in Monmouthshire.
Interested in purchasing a property in Monmouthshire? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Monmouthshire by housing type
Prices last recorded in February, 2024
average
£332,921
detached
£476,828
flat
£160,063
semi-detached
£281,534
terraced
£226,885
Prices by housing type in Monmouthshire
Recent data shows that price growth has varied across different property types in Monmouthshire over the last year. For terraced houses, property prices changed by 2.6% between February 2024 and January 2024 to reach £226,885, and changed by -2.2% over the last 12 months. The annual change was less than the -2.5% change seen for terraced homes in Wales overall.
Meanwhile, semi-detached properties saw a rise in average prices locally, taking them to £281,534 in January 2024. This represents a 2.8% change from the same month last year.This is underperforming the -0.4% annual change in semi-detached values across the country.
Detached homes in Monmouthshire gained 2.4% month-over-month to reach an average of £476,828. Annually, detached property values have changed by -2%. This is weaker price growth compared to Wales's -0.6% change for detached houses over the year.
For apartments and flats, average prices increased by 1.5% between February and January 2024, hitting £160,063. Over the last 12 months, apartment values have changed by -5.1%, lagging Wales's flat and apartment growth rate of -1.1%.
Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of -0.8%, while flat properties lagged, with a change of -5.1%.
Recent purchases in Monmouthshire
According to data from HM Land Registry, there were 60 completed property purchases in the area of Monmouthshire in February 2024. Of these sales, 14 were recorded as cash purchases whilst 28 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -1.6% and the percentage of properties purchased with cash has changed by -2.5%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in monmouthshire.
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