House prices in Pembrokeshire, Carmarthenshire and Ceredigion have all fallen slightly in the third quarter of 2024.

The figures have been released from Principality Building Society’s Wales House Price Index for Q3 2024 (July-October), which demonstrates the rise and fall in house prices in each of the 22 local authorities in Wales.

Principality’s report shows that house prices in Pembrokeshire have had a small quarterly dip of 0.2% down to an average price of £250,756 while Ceredigion experienced a fall of 0.4% on the quarter to an average of £269,585.

House prices in Carmarthenshire have seen the greatest fall of the three local authorities with a quarterly drop of 6.6% and an annual drop of 5.9% to an average price of £203,356.

The dip in prices for this quarter follows a rise across Pembrokeshire, Carmarthenshire and Ceredigion in the second quarter of 2024, when homes in Ceredigion rose at the fastest rate across the whole of Wales.

Across Wales, the average price of a home in Wales dropped to about £232,400 in the third quarter of 2024 – 2.9% below October 2023 figures and almost 7% below its peak of £249,000 at the end of 2022.

Despite the overall downward trend in prices this quarter, there were around 11,200 transactions in Wales in the third quarter of 2024, 18% more than in the second quarter and 11% up on the same period a year ago.

Shaun Middleton, Head of Distribution at Principality Building Society, said: “The third quarter of 2024 signifies a slow and steady recuperation of the housing market, despite house prices adjusting slightly down in the third quarter, following an uptick in the second.

“Across Wales, developments at authority level are mixed, reporting no-clear direction with house price trends. Nevertheless, there is a clear upward trend in sales, demonstrating that market activity is overall looking positive.”

Shaun continued: “Accounting for seasonal impacts such as the general election and time of year, the data supports a gradual market upturn, with Wales showing glimmers of steady improvement.”