HOUSE prices in Newport have climbed to a new peak over the last three months, with the average house price now £202,947.

Newport saw a 1.5 per cent rise in the period of July to September from the previous quarter, according to the latest figures from Principality Building Society’s Wales House Price Index.

The index documents the rise and fall in house prices in each of the 22 local authorities in Wales every three months.


House prices in Newport also rose by 1.8 per cent compared to the same period in 2018.

Across Wales, the average house price reached a record peak of £191,006 in the third quarter. House prices have risen in Wales by just over two per cent both quarterly and annually, but the average house price remains about 40 per cent lower than in England, where the average price is £305,000.

Tom Denman, chief financial officer at Principality Building Society said: “First time buyers, holiday lets and people seemingly not allowing the shadow of Brexit to deter them, means average house prices in Wales continue to buck the trend seen in regions across England.

"It also seems home movers are continuing to buy higher value properties and overall house sales are up compared to the same quarter in 2018.

“The growth in average house prices is underpinned by historically low interest rates, a shortage of housing supply and relatively high employment. It will be interesting to see if this upward trend continues for the rest of the year as Brexit negotiations reach a critical stage.”