Wales house prices at highest level since 2007

Cardiff's house prices have risen by 7.4 per cent in a year. Credit: David Cheskin/PA Wire

House prices in Wales rose by more than £1,000 in October, according to the latest figures from the Office for National Statistics.

Sales are at their highest level since December 2007, with the average house price reaching £154,696.

Richard Sexton, from LSL Property Services, said: "The market is powering ahead, with prices increasing by £1,125 compared to September, representing the third monthly price rise, while prices are up by £3,137 since January 2013.

"New buyer enquiries, sales and price expectations are all above the three-month average illustrating the strong headway being made.

"Sales in particular are no standing at the highest level since December 2007, and momentum is building further - thanks to the boost in consumer confidence and the improving economic picture."

He added that first-time buyer homes are "particularly popular" in Cardiff with prices up 7.4 per cent since last year.