Shropshire house prices climb in the last year

The average property in the county, including Telford & Wrekin, now stands at £182,679, according to new figures from Nationwide Building Society.

That is five per cent higher than this time last year, and seven per cent higher than it was 10 years ago.

It means the county is outperforming the wider West Midlands region, where prices are 4.7 per cent higher year-on-year at £161,989.

In Mid and West Wales, the average house is now worth £153,239 – an increase of four per cent, compared with seven per cent in the last quarter.

They are worth just two per cent more than 10 years ago.

Nationally, house prices are increasing less than half as fast as they were last summer, Nationwide said.

At £189,454 on average in March, UK property values are 5.1 per cent higher than a year ago.

The annual pace of house price growth has been slowing for seven months in a row, and has reached less than half the rate of growth seen for much of last summer, when the year-on-year increase was in double digits.

Robert Gardner, Nationwide's chief economist, said that, across the UK, average house prices are currently around two per cent above the levels seen before the financial crisis.

He said: "Economic conditions have remained supportive, with labour market conditions continuing to improve and mortgage interest rates close to all-time lows.

"Nevertheless, the pace of housing market activity has remained subdued, with the number of mortgages approved for house purchase in January around 20 per cent below the level prevailing one year ago."

Some experts have suggested that the looming general election could have an impact on the housing market, with people putting off their plans to await the outcome.

Wales remains the weakest area in the UK for annual house price growth. At £139,171 on average, prices in Wales are down by 0.5 per cent year on year.

Wales is the only UK nation or region where prices have fallen year on year in the first quarter of 2015.