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Welsh house prices rise by 3.3%

The average increase across the UK was 3.6%

The average house price in Wales has risen by 3.3% in the last year to £177,436.

Between April and May this year the price increased by around £3,000, a jump of 1.8%.

It follows a trend of rising house prices across the UK.

Greater London saw the biggest annual increase of 16.3%. The average cost of a house there now stands at £592,763.

Meanwhile, houses in the north of the UK saw an increase of just 0.1%, increasing by around £100.

The average increase across the UK was 3.6%.

The figures are based on the latest House Price Index.

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Rent costs rise to less than inflation rate

The average cost of renting a house in Wales and England is £741 a month Credit: PA

Rent rises across Wales and England have slowed to less than half the current rate of inflation, according to the latest figures.

As of April this year, the cost of renting a house was less than one per cent higher than twelve months ago - that's less than half the latest 1.6 per cent annual rate of inflation, as measured by the Consumer Prices Index (CPI).

The average rent in Wales and England has also risen by just £5 in the last twelve months.

Although rental prices are now 12.9 per cent higher than they were in January 2010, they are still less than the annual rate of inflation over the same period, which stands at 14.5 per cent.

Meanwhile on a monthly basis, Wales has seen the fastest monthly rent rise of 1.1 per cent.

The figures are based on the latest Buy-to-Let Index from LSL Property Services plc.

Call to tackle number of empty houses in Wales

Housing groups and politicians say more could be done to help reduce the number of empty homes in Wales.

The latest figures show there are at least 23,000 properties which have been empty for more than six months.

The Welsh Government says it is on track to meet a target of bringing 5,000 empty homes back into use by 2016.

Kelsey Redmore reports.

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Principality results positive news for first-time buyers

There are encouraging signs tonight that first-time buyers are getting a bigger slice of the housing market.

Today Wales' largest building society, the Principality, announced that they lent more than a billion pounds in mortgages last year.

That money has helped thousands of people get onto the property ladder - and in Wales, first-time buyers were getting a bigger share than ever before.

Principality: 10.7% increase in mortgage lending

The building society Principality have announced an increase in mortgage lending of 10.7% in the last year.

First-time buyer lending has also increased, with the society helping over 1,800 first-time buyers across the UK onto the property ladder.

Principality has also grown its Welsh first-time buyer market share to a record high of 12%.

"We have...continued to support the regional economy, opening our 53rd branch on Cwmbran high street, creating a further 58 jobs across the Group and increasing residential lending in Wales by 42%."

– Graeme Yorston, Principality Group Chief Executive
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