HOUSE prices have risen across Gwent in the past year, with Torfaen and Newport recording among the largest increases in the UK.

Prices rose by 12.4 per cent in Torfaen, and 10.2 per cent in Newport, in the year to June - the fourth and ninth largest increases among council areas in the UK respectively.

The rise in Monmouthshire over the same period was five per cent, in Blaenau Gwent 3.6 per cent, and in Caerphilly 1.7 per cent.

Taking June only, the picture was mixed. Torfaen led the way with a five per cent increase, while Blaenau Gwent and Newport recorded increases of 1.3 per cent and 0.1 per cent respectively. But there were decreases in Monmouthshire (down 2.7 per cent), and Caerphilly (down 1.5 per cent).

The latest figures are from the House Price Index compiled by the Office for National Statistics, using house sale information from the Land Registry, and equivalent bodies in Scotland and Northern Ireland.

Across Wales, property prices rose by 4.3 per cent in the year to June, to an average £156,886, outperforming the UK as whole, which saw the average property value increase by three per cent.

Domestic property prices in all council areas in Gwent, bar Monmouthshire, remain significantly below the UK average of £228,384. In the latter, the average price is almost £16,000 above the UK average.

The average homeowner in Gwent will have seen their property jump in value by around the following amounts in the past five years: Torfaen - £28,000; Newport - £49,000; Monmouthshire - £49,000; Caerphilly - £23,000; Blaenau Gwent - £14,000.

Despite the five-year increase however, Blaenau Gwent remains the second-cheapest council area in the UK in which to buy a home,

And in June, first-time buyers in Gwent will have paid around the following amounts more for their homes than they would have five years ago: Torfaen - £24,000; Newport - £41,000; Monmouthshire - £38,000; Caerphilly - £20,000; Blaenau Gwent - £13,000.

Demand for properties has risen in Gwent in the last couple of years, more significantly since the abolition of the Severn Crossings tolls was announced last January.

John Newell, director at estate agents Kingston Newell, highlighted Langstone and western areas of Newport bordering the M4 as particularly high demand areas

“Houses in these areas valued under £300,000 are being sold within days of coming onto the market, quite often going to sealed bids due to the number of offers being made for them,” he said.

“The more expensive properties are taking longer to sell but they are still being sold a lot quicker than the national average for similar houses in other parts of the UK.

“Newport offers homebuyers excellent value for money when compared to Cardiff, Chepstow and Bristol.

“We have seen an influx in the number of first time buyers and families from outside the area, moving here to take advantage of the current market conditions.

“When you consider the average house price in Newport is £128,764, compared to £294,303 in Bristol, you can understand why more homebuyers are buying here.”