In 2018 Newport was identified as Britain’s fastest-moving property market.
Rightmove identified the average time to sell a house was 52 days.
Scrapping of the Severn Crossing tolls have been a key contributor, where both individuals, families and investors can purchase large detached home around Newport in the same price bracket as a small terraced property in Bristol.
The increasing number of new-build homes, easy transport links and the fact Newport city centre has had a dramatic makeover in recent years are all factors making it a great place to live and invest. You can achieve great yields from an investor point of view and also the City now offers everything for a family and also the young professionals.
Although placing 18th in Great Britain, Newport is also home to the highest Welsh gap in mortgage and cash buyer house prices at 16%.
According to new data from mortgage finance specialist, One77 Mortgages, average house price levels for those buying in Great Britain with a mortgage are 9% higher than cash buyers.
Using data from the Land Registry, the finance company analysed how much higher or lower the average mortgage house prices was compared to those funded by a cash purchase.
With interest rates remaining at affordable levels and house prices at not so affordable levels, it’s no surprise that mortgage sales volumes across the nation are 138% higher than cash sales volumes. However, despite slower market conditions nationally and the ease of dealing with cash buyers over those with a mortgage, the average house price for cash buyers is still 9% lower than mortgaged average house price levels.
Chris Davis of South Wales estate agency Davis & Son’s had this to say: “Newport is an excellent Investment and both rent and prices are bucking national trends. “There’s never been a better time to invest, with fantastic investments opportunities all across the county starting from £47,000 with apartments giving some of our clients a 10% return, get in touch to find out more”.