LETTING & ESTATE AGENT

Property values rise by £206 per week in Newport

Property values rise by £206  per week in Newport

Last week, a landlord who lives in Caerleon, came in to our office to discuss the rising property values in the Newport area. He owns a varied portfolio of rental properties, primarily in Newport and Cardiff with one in Cwmbran, so it is interesting to compare the increase in property values around the area.

Over the last 12 months in Newport average property values have risen from  £144,400 to £155,200 , a rise of £10,800, or £206 per week. When I looked at some of the surrounding areas, Cardiff has had a slightly lower than average increase in property values, at around £126 per week, whilst Cwmbran has had an even lower rise of an average increase of around £40 per week. It is, nonetheless, a rise in all the town’s/city’s average property values which suggests the market is recovering steadily in our area, but especially Newport– good news for home owners and landlords alike.

When considering this landlord’s buy to let portfolio, yields can be in the order of an average 5% to 6% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and  it could be a good time to invest in the property market in Newport as property values start to rise.

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please come and see me at our office on Station Street, Newport.