As Wales’ third largest city, Newport is one of the South Wales areas that have seen an economic and cultural revitalisation following the decline of the mining industry. Ideally positioned between Wales’ capital and the border with England, properties in Newport offer a fantastic living location.
A city on the rise
Newport has recently seen the opening of the new shopping centre and leisure complex Friars Walk. The £90m complex includes high street shops, numerous restaurants, a cinema and a bowling alley. Linked directly to the redeveloped John Frost Square and Newport bus station, the complex is situated a short walk from the city’s High Street. Creating 1,200 jobs, Friars Walk is a sign of Newport’s economic and cultural regeneration.
It has also shown the ability to attract high-profile events such as the Ryder Cup in 2010 and the NATO summit in 2012, which gained Newport global media attention.
Newport has a lot to offer, both for visitors and residents. Some of the most popular attractions include:
- Caerlon Roman Baths
- Belle Vue Park
- National Velodrome
- Newport Museum and Art Gallery
One of the city’s biggest and fastest growing events is the Newport Food Festival. Now running for its sixth consecutive year, the Newport-based brewery Tiny Rebel has recently announced it will be the headline sponsor for the event for the next three years.
Newport also hosts a University of South Wales campus in Caerleon. Offering a wide range of academic courses, the university campus has seen a huge influx of students that boosts the city’s population and economy.
Newport Lettings Market
Despite figures in recent years revealing Wales’ rental market is lagging behind the rest of Britain, student rental costs in Newport saw a huge increase in 2013, more than doubling in cost. In the past year average house prices in Newport were up 3 per cent on the previous year, similar to 2007 when they averaged £158,368. This reveals a steady growth within the Newport housing and letting market.
As of 2016, lettings in Newport reveal a favourable market:
- Total properties to rent in Newport: 371
- Average property rent in Newport: £608pcm
- Average time on the market (ToM): 81 days
Full figures of the Newport lettings market are available at: http://www.home.co.uk/for_rent/newport/current_rents?location=newport_wales