As a bit of a champion for Newport, I’ve been telling people for ages what a fantastic city it is. And we now have a new feather in our cap to further support my claims… Newport has recently been pegged as the fastest-moving property market in Britain.
It now takes just 52 days for the average house for sale in Newport to be snapped up! Over the last year, the average time it takes to find a home buyer has dropped by almost a third, from 76 days. I perhaps sound a little like a broken record here, but it’s easy to see why the city’s housing market has seen such a change in pace.
The city boasts the largest amount of new-build homes in Wales and the number is constantly on the increase: a real boom for those who don’t like older homes. What’s more, returns for property are on the increase too… The average house price has hit almost £176,000, which is a 7% increase. A lot of this is probably down to the fact that new builds tend to sell at a premium.
Even though prices are rising, you still get more home for your money in Newport. You can pick up a large detached family property for the same sort of money as you’d have to shell out for a small terrace in nearby Bristol. The average house there commands a hefty £300,000 asking price. So it’s really no wonder that Newport is becoming the location of choice for those looking to commute to Bristol. Especially since the Severn Bridge Crossing tolls will be scrapped during 2018, which reportedly, can save commuters more than £1,400 a year. Plus, our fair city offers fantastic transportation links, not only to Bristol in the East but also Cardiff in the West and beyond.
Big business is also a big draw. Several large firms have chosen to set up base in Newport – such as Admiral insurance, which brings skilled workforce members to the city. New schools are also being created to accommodate future generations, so families have more education establishments to choose from than ever before. Last year, a new primary school opened its doors in Jubilee Park (Rogerstone), to help accommodate children from families that are moving in to the homes at Riverside at Jubilee Park, one of the city’s many new developments.
And if all that wasn’t enough, the city centre has undergone a makeover in recent years and there is so much do, from shopping at Friars Walk, Kingsway and all the independent stores that are springing up, to fine dining at some fantastic restaurants and an enviable café scene. Add in Roman Caerleon, which can be found a few miles from Newport City Centre, for some fantastic green spaces and history… it is easy to see why Newport has become such a draw.
I hate to say ‘I told you so’ but… well, I did! Of course, the fact that houses are moving so quickly means you need to act fast if you don’t want to miss out on your dream home!
So, if you are looking to buy – or sell – property in Newport, get in touch with our team here at Bluestone Sales and Lettings today, call us on 01633 911805!