House prices across the nation have fallen by £1,750 since the start of the year, according to LSL, and the average house price now stands at £149,769, 1.5% down on the same point last year.
House prices in four of the five most expensive districts fell with just Powys posting a year-on-year increase in property values.
Richard Sexton, director of e.surv chartered surveyors, said that first-time buyer numbers had been increasing across Wales, with these typically low value properties dragging the national average down.
“Things are starting to look up though. First-time buyer activity has had a major boost, providing some comfort amid the trials and tribulations. Sales in Wales reached a three and a half year high in July, thanks to the influence of first-time buyers.
“The rise in first-time buyer activity will make the market more fluid as sales from second-time buyers and home movers will result in levels rising which will start to push prices back up again.”
Sexton said the Funding for Lending Scheme had helped increase the availability of mortgages but that many areas of Wales were still struggling with low wages, meaning potential buyers were unable to save a deposit.
