Welsh housing boom over?

Official figures released by the Assembly Government, show that the average house price in Wales now costs £158,000. That is an increase of 7% over the past year and compares to a UK average of little more than £197,000.

But estate agents across Wales are reporting a slowdown in the market - with some saying prices have actually fallen in the last year. They argue the property boom is well and truly over and called on the Government to raise the stamp duty threshold to £150,000.

Merthyr Tydfil, which was one of the house-price boom areas in recent years, has also seen a slow down in the market. Peter Phillips, of Derek B Phillips Estate Agents in Merthyr, explained, "The market is levelling off here and there is quite a lot of evidence of that happening".