House prices stall in Wales as overall price tag dips

Across Wales and England the average asking price was £319,109 in June marking a 0.4% fall compared to figures in May.

It is the first fall seen in the month of June since 2009 at the height of the credit crunch according to property experts Rightmove who added that it is also the first monthly decline in asking prices seen this year.

The annual rate of asking prices also slowed in June to 1.8%, the lowest rate since April 2013.

Asking prices were up month-on-month in June by 0.8 % in Wales, 1.3% in the North West of England and the East Midlands, by 1.2% in the South West of England and by 0.7% in the North East of England.

People wanting to get on the property ladder may welcome the general asking price dip. However, price tags on typical first-time buyer properties with two bedrooms or less jumped by 3.5% month-on-month in June to reach £199,943 on average.