Last year, we heard the fantastic announcement that the Severn Bridge tolls would be scrapped.
And there’s no doubt that it was a real coup for our little corner of South East Wales.
Especially in relation to the property market. House prices have risen by a huge average of 13.2% since last summer!
This percentage is an astounding four times more than the average rise across the whole of the UK since last summer.
The fabulous city of Newport itself has seen a rise of 13.7%.
It’s no surprise really. Let’s face it, house prices in Bristol are off the charts.
So, scrapping the toll opens up a whole new world of possibilities for those who work – but can’t afford to live – in Bristol.
Just a mere 30-minute drive from Newport and you’re across the bridge into Bristol City Centre. And no toll charge means commuters will have up to an extra £1400 in their pockets to play with, which makes South East Wales an even more attractive option.
It’s also a great boost to the Welsh economy. It’s estimated that the Severn Bridge changes will boost it by £100m a year and that’s certainly not to be sniffed at!
Plus, of course, you know I am biased but, on our side of the pond, Newport is a great place to put down roots.
Of course, as more people look to buy a new home or even get on the housing ladder here, there will be subsequent impact on prices.
A plot of land in the popular Beechwood area recently sold for £122,000 a whopping three times its £36,000 guide price!
But still, you’re definitely getting more house for your money if you are looking for houses for sale in Newport.
The average house price is £128,764, compared to £294,303 in Bristol, so it’s still a no brainer and definitely a great deal for buyers!
But what does this property boom mean for those of you that are looking to sell your Newport property?
Are you going to be raking in the cash if you decide to put your home on the market?
It looks like you might be, especially as the Severn toll charges being scrapped is just one of many reasons that makes Newport such a desirable place to live!
To find out how much your property is worth, book an appointment with one of our property experts here at Bluestone Sales & Lettings, or check out the instant online valuation tool on our website.