Average house prices rose by �1,500 every month for a year, the survey shows

The Principality Building Society says the average price of a house in Wales is now �96,000, a rise of 23% on the price of �78,000 12 months ago.

In Cardiff, the increase is even more dramatic with houses in the capital going up by �27,000 in the 12 months between September 2001 and 2002 - a rise of 26%.

The Principality says figures show the growth in personal wealth achieved by homeowners in Wales in the past year.

There had been signs earlier in the year that the rate of price increases might slow down by now.

These figures show that while that may be true for more expensive properties, most houses continue to grow steadily in value.

Confidence strong

A survey this month by the Royal Institution of Chartered Surveyors (Rics) found more buyers had entered the housing market.

The group said 49% more surveyors in England and Wales reported seeing a rise in the number of people looking to buy a property during the three months to the end of September, up from 16% in August and 11% in July.

Some 20% more surveyors reported seeing price rises than those who saw price falls.

Overall, confidence remains strong, with 46% more surveyors expecting property prices to rise during the next three months than those who think they will fall.

The RICS survey reflects confidence in the property market rather than what is actually happening to house prices.

Therefore, it is usually the first to show any signs of change in the market.