AVERAGE house prices in one area of Gwent have risen by 20 per cent in just one year - but remain the lowest in the whole of Wales.

The Land Registry data, which is for July 2022, shows that the average cost of a house in Blaenau Gwent is £132,156 - far below the average house price in Wales, which is £219,951.

However, if prices are compared to July 2021, then the figure in Blaenau Gwent has increased by 20 per cent.

This is the greatest price increase over that period in Wales, with the average increase being 17.6 per cent.

In contrast to Blaenau Gwent, the most expensive area of Wales to purchase a house is Monmouthshire.

A house in Monmouthshire will set someone back £350,853 on average.

The price rise in Monmouthshire compared to July 2021 is 15.4 per cent, so below the national average.

It should be remembered that prices can vary wildly and are dependent on a number of factors, including a low number of sales in an area and the type of properties sold.

Compared to last year there have been far fewer property sales in Wales, with 3,644 in May 2021 and 2,331 in May 2022.

It is still cheaper to buy a house in Wales compared to England, where the average house price is £311,583 and the average annual price increase is 16.4 per cent.

The average price for the UK is £292,118 and the average annual price change is 15.5 per cent.

Based on that data alone, there is a suggestion that, although house prices in Wales are cheaper overall than in England, this could change in the future as prices are increasing at a faster rate in Wales.

However, this could be a blip and any change in the national averages could be down to an anomalous region.

If you're looking to rent instead of buy, then there may be some good news for those planning on renting in Wales.

Data released by the Office of National Statistics shows that Wales had the lowest private rental price increase in the UK.

Private rental prices in Wales grew by 2.5 per cent between August 2021 and August 2022.

For comparison, England prices rose by 3.4 per cent, Scotland by 3.6 per cent and Northern Ireland by a whopping 8.4 per cent.

However, this was still the highest private rental price increase in Wales since 2010.