When the first Severn Bridge was opened by The Queen in 1966, it was hailed as the dawn of a new economic era for south Wales, slashing what had been a 12-hour journey to London’s West End.
Although removing bridge tolls in December 2018 – saving commuters up to £1,400 a year – might not have felt quite as momentous, agents say the change has fuelled a spike in interest in Welsh property.
‘It’s noticeable – there’s definitely more activity,’ says managing director at Stacks Property Search James Greenwood.‘There’s also a lot more traffic on the roads and a lot of people talking about it. The question is: is that because the tolls came down or because the pressure on price on the English side of the Severn is so great that people have been squeezed west?’
Dan Rees at Savills Cardiff responds: ‘For people who don’t know Wales and didn’t perhaps grow up there, I’m sure the scrapping of the tolls has widened their search. If they’re commuting, they haven’t got to worry about that extra cost.’
Most new activity, say agents, has been focused towards the middle to lower end of the market. ‘We’re talking about the sub-£300,000 level, especially new-builds,’ says Anthony Clay of Fine & Country Monmouth.‘What will cost you £350,000 in Bristol will cost you £250,000 here, and it’s also beneath the raised tax levels of Wales. People who work in Bristol in the middle end of the market will commute, bridge tolls or no bridge tolls.’
‘If they’re not Welsh, I think people are surprised by how beautiful south Wales is,’ muses Leah Mullin of Knight Frank Cardiff. ‘If I wanted to go and walk in the Brecon Beacons one weekend, it only takes 40 minutes to get there; if I want to go for a swim in the sea, it’s 30 minutes away. The mix of amenities is a massive pull.’
For buyers willing to widen their search, tempted by the new ease of the bridge, budgets will still stretch further across the border. ‘There will always be a bit more value for money in Wales compared with England,’ says Mr Rees, with Savills research showing Welsh properties are nearly £100 cheaper per square foot than on the English side of the bridge.
‘Initially, there was a bit of a surge and a scramble for properties and I think the values did go up a little bit. But, as time has gone on, things have flattened out.’
Monmouthshire, often considered ‘Wales light’ – ‘not too Welsh,’ explains Mr Clay – boasts the popular market towns of Usk and Monmouth; the latter is home to the Haberdashers’ Monmouth Schools, a major draw. Crickhowell, the other side of Abergavenny, is also in high demand, with its high street enlivened by independent shops.
Agents advise sticking near to the bridge for a daily Bristol commute; the realistic commuter belt is between Chepstow and Newport near the motorway, including popular Caldicot. ‘You also have the Severn Tunnel Junction or Newport train stations on your doorstep here, and can be in London in two hours on a fast train,’ adds Mr Rees.
Why not take the plunge? ‘It’s a bit of a cliché, but people can be surprised by how warmly they’re made to feel at home in Wales,’ says Mr Greenwood. ‘There are slightly different attitudes and values to money on the other side of the river. It is a more relaxed place.’ Take me to the river... and beyond.
50 best places to live near London
The indispensable guide for getting into the country without ending up out of touch with the town.
The best places to live for commuters: Suffolk
There are two places in Suffolk on our list of the best villages and towns close to London.
Credit: tim gartside / Alamy Stock Photo
The best places to live near Edinburgh – and what you could get for your money
Looking for the perfect spot from which to enjoy the country life while working in Edinburgh? Eleanor Doughty picks out
Seven of the best places to live in the North of England – and seven wonderful houses from under £500,000
-
How to disconnect from reality and feel like a new person in under 72 hoursOur round-up of the best British retreats that work wellness wonders in under 72 hours.
-
Evenley Wood Garden: 'I didn't know a daffodil from a daisy! But being middle-aged, ignorant and obstinate, I persisted'When Nicola Taylor took on her plantsman father’s flower-filled woodland, she knew more about horses than trees, but, as Tiffany Daneff discovers, that hasn’t stopped her from making a great success of the garden. Photographs by Clive Nichols.
-
The sounds of spring and stained glass in an Arts-and-Crafts masterpiece in DorsetWith 35 acres, more than 10 bedrooms, a swimming pool and tennis court, Winterfield has it all.
-
An eight-bedroom wonder in East Sussex where the outdoors are an adventureThe interiors of Old Middleton are pretty good too.
-
A lakeside farmhouse on the market in the beautiful heart of PembrokeshireA lake, streams, 15 acres and five bedrooms. Rogershook might have it all.
-
An idyllic countryside home that's light, spacious and comes with a Grade II-listed follyHagg House is a gorgeous family home that just happens to have a miniature castle in the gardens. Annabel Dixon explains more.
-
A historic villa for sale on the Via Nomentana worthy of Rome's rich historyThree floors, lots of balconies, and a private garden in one of Rome's loveliest neighbourhoods.
-
Eight bedrooms of unlisted Edwardian elegance with sweeping views of SomersetAshton House sits near the market town of Chard and comes with a wealth of amenities both inside and out.
-
A waterside cottage in Devon with a private quay, idyllic views and the prettiest summerhouse we've seen in yearsRight beside the picturesque Yealm Estuary, No 1 Noss Mayo is an idyllic home that feels like an escape from the world. Annabel Dixon takes a look.
-
This elegant Greek villa offers would-be buyers a once-in-a-lifetime opportunity to live in the shadow of the AcropolisAthenian Legacy consists of two houses in walking —and almost touching — distance of one of the world’s most famous and precious landmarks.
