THE average cost of a house in Blaenau Gwent is now almost half that of Newport’s, new figures show.

Statistics from the Land Registry show the average price of completed house sales in Blaenau Gwent was just £65,305 in March 2011.

The price is 19.9 per cent down from the same month in 2010, when the average was £81,506, and is almost half of the average recorded price in Newport of £120,480.

The decline in Blaenau Gwent is in part due to a steep drop of 7.4 per cent in February, when the average house price was recorded as £70,529.

Meanwhile house prices in March rose year on year in Caerphilly and Monmouthshire but fell in Newport and Torfaen.

In Newport the average house price is down 1.7 per cent year on year – from £122,585 – despite a climb of 1.2 per cent in February.

Torfaen’s average house price dropped by 3.3 per cent year on year from £104,165 to to £100,707, following a fall of 1.8 per cent from the month before.

Torfaen’s average price was the worst in the county after Blaenau Gwent.

Caerphilly council had the next lowest average house price in Gwent at £102,168 during March.

However, prices there were 4.2 per cent up on March 2010, from £98,076, and 1.2 per cent up on February.

Homes in Monmouthshire remain the most expensive in the region at £182,943 – almost three times that of the average house price in Blaenau Gwent.

The average housing price there grew by 5.5 per cent year on year, from £173,470, and by 1.2 per cent on February.

Figures at a glance

Area Price Mar 2011 Mar 2010 %change %change from Feb Blaenau Gwent £65,305 £81,506 -19.9 -7.4 Caerphilly £102,168 £98,076 4.2 1.2 Monmouthshire £182,943 £173,470 5.5 1.2 Newport £120,480 £122,585 -1.7 1.2 Torfaen £100,707 104,165 -3.3 -1.8