Wales 'hit hardest' buy price crash

Landlords and homeowners in some Welsh towns have experienced the worst drop in house prices in England and Wales, according to recent government figures.

Average house prices across the two countries have decreased by 5.6 per cent in the last year, data from the Land Registry report for September showed.

By contrast, average house prices in Neath Port Talbot were almost 19 per cent lower over the same period.

Homeowners across the county now find their properties are worth £20,000 less than last year on average.

Estate agents in the area told the Western Mail that rising unemployment following the closure of the county's steel blast furnace was to blame for the falling value of houses.

However, some towns in Wales did recorded monthly increases on house prices.

Swansea reported a monthly rise of 2.7 per cent meaning average prices are down only 6.9 per cent in the area against last year.

York was the only area in England and Wales to report lower losses, with the average prices only decreasing by 4.9 per cent over the last 12 months.

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