AN AREA of Gwent has been named as the worst in the entire nation for those looking to get onto the property ladder for the first time.

According to a new study, first time buyers in Wales should look to avoid Monmouthshire, as they will face paying almost twice the national average for their new home.

The study, carried out by national estate agents Keller Williams UK, showed that in Wales, the average cost of a FTB property is £159,956.

But, in Monmouthshire, this number rises by a staggering 42 per cent, up to £227,747.

What’s more, it suggests that for any first time buyers looking for a decent deal without having to cross the border, Merthyr Tydfil is the place to be.

Here, the average price for this kind of property is £99,176 – some 38 per cent less than the national average.

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According to the experts behind the study, the pandemic created a surge in property demand, at a time where supply remained static.

This is said to have resulted in a drastic rise in house prices.

The overall study looked at every region in Britain, and found that price rose in Wales more than anywhere else.

What has been said about this news?

Commenting on their study, Ben Taylor, CEO of Keller Williams UK said: “It all comes back to that overused phrase: Location, Location, Location. It’s a cliche for a reason.

“For first-time buyers, location might be more important than anything else, not least for those who are looking for so-called starter homes but don’t want to move too far away from the workplaces or communities they have come to love.

“It’s great, therefore, to be able to show that amazing deals can still be found without having to sacrifice too much on your desired location. First-timers who want to buy in Trafford, for example, only have to move 35 miles away to Burnley in order to save almost £170,000.  The same distance applies to buyers in Monmouthshire who can save £129,000 by instead buying in Merthyr Tydfil.

“We live on a small island and this data shows how we have incredibly varied housing markets situated next door to one another. First-time buyers don’t have to compromise too much on their desired location in order to land a great deal.

“It’s clear that first-time buyers no longer want to live in the hustle and bustle of big cities, but still want easy access to them when needed.”