Rightmove has identified the top ten fastest-moving property markets, with Newport in South Wales topping the list.
The property website reports almost a third of a reduction in the average length of time it takes to find a buyer in Newport since last year, from 76 to 52 days. According to Rightmove, two key factors are contributing to the popularity of the city’s housing market: the government’s announcement to scrap tolls on the Severn Crossings by the end of 2018 and increasing property interest from more expensive neighbouring areas, including Bristol. Just over the bridge in England, houses prices can be almost double those in Newport.
The city has seen a 7% increase in the average house price, up to just over £175,000.