Welsh house prices climb 0.7pc

House prices rose 0.3% in November 2011 compared with the previous month.

This is the sixth consecutive month house prices have risen in Wales.

Richard Sexton, director of e.surv chartered surveyors, said: “Wales is the only region in England and Wales where house prices have risen for six consecutive months. Even London can’t boast such consistent growth.

“Beneath the healthy headline figures parts of the market clearly aren’t in the pink. It is the fact that wealthier buyers, cash rich investors and retirees are buying up property which is pushing up prices.

“Wealthier buyers and retirees represent a disproportionate share of the market. This is reflected in the disparity between the high prices for detached and semi-detached property, typically bought by wealthier buyers, and the low prices for flats which are archetypal first-time buyers’ stock.

“This imbalance will become more pronounced in 2012 with Welsh economic conditions weaker than the national average.”