Why the local property market is booming

We’re not surprised to share that Wales has seen the largest annual house price growth last year out of the four UK nations according to data released as part of the UK House Price Data Index Summary. With an average house price increase of 10.7% in Wales in 2020, it’s no shock that many of you are deciding to move home! Whether you’re stepping up the property ladder or downsizing, the local property market is ready for you to make your move!

Although we have been experiencing house price growth here in Wales, England still boasts the highest average house prices. Our lower average property value means that buyers get more for their money this side of the border, leading to more potential buyers looking to purchase a home in Newport and the surrounding areas.

Langstone, St Julians and Caerleon are just three areas that have experienced an increased interest in buyers from Bristol. With no bridge toll and attractive house prices, the demand for sale and rental properties in this area is at its highest.

As the stamp duty holiday comes to a close and lockdown eases how with this affect the current market?

Experience has taught us that this rush of activity isn’t showing any signs of slowing down. We are working with new vendors and buyers every day, reasons for moving have developed from simply needing more or less room for everyday living to moving away from the office as many people continue to work from home or requiring more outdoor space for their families.

If you are considering selling your home we recommend booking a market-led valuation with our team as you might be surprised by just how much your home is worth. Alternatively, if you are looking for a new home tell our team exactly what you want and we’ll help you with your search.