THE Severn bridges tolls axe effect continues as property sales in the city of Newport remain strong.

Buyers are targeting Newport at auction with the rejuvenating city’s property prices retaining their strength.

Paul Fosh, of Newport-based Paul Fosh Auctions, commenting after the firm’s Christmas auction this month, said: “Newport retains its strength as a target for buyers and investors especially in view of the imminent removal of tolls on the Severn bridges.

"There is a continuing appetite for quality properties which are well presented and this is particularly relevant in the city of Newport as well as in Cardiff.

“Newport is increasingly on the radar of buyers from this side and the other side of the River Severn as the abolition of the bridge tolls charges looms ever closer. The right properties will always do well but even more so in the current conditions. Properties ripe for rental are at the top of investor’s target list

“In other parts of south Wales properties, especially traditional terraced houses are doing well with some very, very good opportunities being presented at extremely good prices. Canny investors looking to buy could well fill their boots with the properties we have on our books which offer very good value and potential returns.

Highlights in the city of the latest sale included 9 Kingsmill Terrace, Newport, a three-bedroom terraced house which, listed for £85,000-plus sold after keen interest in the auction room for £126,00. And 3 Filey Road, Newport, a three-bedroom terraced house listed for sale at £90,000-plus sold for £115,500.

In all 57 properties were sold out of 79 offered for sale at the December auction realising a total of £3,329,750.

The next sale, the first of 2019, will be held at the Park Inn Hotel, Cardiff, is on Thursday, February 7, starting at 5pm.