Newport has been Named as Britain’s fastest moving property market, the average length of time it takes to find a buyer in the city having been slashed by nearly a third over the past year.
This means that the time it takes to secure a buyer in Newport has reduced from 76 to 52 days over the past year according to analysis from Rightmove.
Suggesting that the abolishing of Severn Bridge tolls is increasing interest. It would appear that buyers who find prices in Bristol too expensive, are now looking across to Newport with estate agents reporting surges in interest from south west based purchasers.
Chris Davis from Davis & Sons Estate Agents tells us that his agency has a lengthy list of purchasers based in bristol, noting that the bridge toll news has saw a massive surge in calls.
This demand has led to a 37% year on year drop in available properties for sale in Newport and a £12,000 rise in property value , making it the fastest moving market comparing it to a year ago.
The remaining list is dominated by towns in the North of England and Wales. After Newport the Next fastest is Oldham in Greater Manchester, followed by Scunthorpe in Lincolnshire, Rochdale and Leigh, both in Greater Manchester, Wrexham in Wales, Southport in Merseyside, Colwyn Bay in Wales, Dewsbury in West Yorkshire and Birkenhead in Merseyside.