NEWPORT’S housing market has been identified as the fastest moving in the UK, according to new research.

Hometrack, a property market analytics company, also found house prices in the city have increased faster than anywhere else in Wales. It was sixth in an overall UK table.

But Newport’s market topped the list for fastest moving overall, at 10.9 per cent year-on-year.

The average price for a home in the city was £152,200, the data said.

Experts say last year’s announcement that the Severn Crossings toll will be scrapped means buyers from more expensive areas like Cardiff and Bristol are showing interest in Newport.

Data from Rightmove shows the most expensive area within Newport is Goldcliff, at £527,500, compared to the cheapest, Peterstone Wentlooge, at £85,000.

Terraced properties in Newport were the most popular for buyers, and sold for an average of £132,037. Semi-detached properties fetched around £40,000 more, while detached homes sold for an average of £296,017.

Wales saw one of the greatest drops in available homes, figures also showed, with 10.3 per cent less properties available than last year.