For 50 years cars have been charged to drive to Wales from England using the Severn crossing bridges. Commuting and visiting came at a cost to those wishing to move between the countries around the River Severn, but in December 2018 these tolls were removed, framing a new economy of movement in the area.
This will in turn change the nature of industry, employment, tourism and local communities. We did a quick analysis to quantify the current impact on house prices.
We examined the change in sales prices between 2017 and 2018. For residences within 15km of the new Severn crossing, prices have risen more on the west of the river compared to both on the east and in England and Wales as a whole.
If we look at the wider vicinity incorporating more of Bristol, Monmouth and Newport, the picture is slightly more complex. Houses of all kinds have had a greater rise in value, but not flats, suggesting it is larger homes people are seeking towards the west.
Further spatial analysis may look at effects on industry, employment and settlement change, to reveal some intersting geographic patterns.