Scrapping the Severn Bridge tolls could spike house prices and further hurt the prospects of young first-time buyers in the local area, a councillor has admitted.

At a meeting last week, Monmouthshire County Council’s leader, Peter Fox, said the plan to scrap the tolls could add to already pressing challenges which see young people leave Monmouthshire to buy cheaper homes elsewhere.

The average house price in the county already stands at the most expensive in Wales, with median homes going for almost £250,000.

MCC leader Cllr Peter Fox admitted that the local authority faces ‘many challenges.’

“This area of south Wales will be highly desirable and that will put pressure on our housing supply,” he said.

“We want the growth, the jobs, the benefits of the tolls going but we also want to keep our young people in the area.”

The decision to bin the tolls for all vehicles from 2018 has been welcomed by drivers and businesses, with politicians adding that the measure would boost the economy and tighten links between Wales and England.