The sale of an unassuming three bed terraced house in the heart of Newport may well provide a solid indication of a welcome upsurge in house prices in the up and coming city.

The mid terrace property, at St Edward Street, which auctioneer Paul Fosh said required modernisation, sold for almost there times its guide price at the recent sale.

Listed with a guide of £26,000, the property created keen interest from potential buyers, with the hammer eventually falling after some stiff competition at £62,000.

In an area of the city close to all amenities and a short walk from the city’s recently revitalised rail hub train station, the property is believed ideal, once refurbished, to attract commuters either from Cardiff or Bristol or indeed new city centre workers.

Paul Fosh said: “It’s not hard to see why this particular property created so much interest as it is relatively spacious, ideally located in a quiet part of the city yet close to the rail hub and also with easy access to the motorway network, once refurbished the property would be ideal either for sale or for rental.”

Meanwhile, another property in the recent Paul Fosh Auctions sale also created a lot of interest but this time for completely different reasons.

A small parcel of land at Penygarn, Ponsticill between Merthyr Tydfil and Brecon had the auction room buzzing when; listed at a guide price of £4,000 it achieved almost seven times its guide of £27,000.

A three storey block of eleven self-contained flats at Commercial Road and New Street, Newport, four studio, six one bed and one two bed flats a mile from the city centre with a guide price of £260,000, sold post auction.

The total sales from the May auction was £1, 954,500 with total number of lots sold 34.

The next Paul Fosh Auction’s sale is on Thursday, June 21, starting at 5pm and will be held at The Park Inn Hotel, Circle Way East, Cardiff, CF23 9XF. Visit www.paulfoshauctions.com for complete list of properties offered for sale.