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Cardiff House Prices

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I've been wanting to buy a new family home for the last 2 years, but nothing has come up. Finally, the house of my dreams is available, recently on the market. Good area, 3 bed detached but priced about 200k over my budget. It's sitting empty, Needs updating because who has an avocado bathroom suite these days? What on earth is going on!!!!!!!!! :angry:

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Same in Swansea.

Combination of EA ludicrous valuations, seller denial, low IRs, greed and loads of public sector jobs.

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I've been wanting to buy a new family home for the last 2 years, but nothing has come up. Finally, the house of my dreams is available, recently on the market. Good area, 3 bed detached but priced about 200k over my budget. It's sitting empty, Needs updating because who has an avocado bathroom suite these days? What on earth is going on!!!!!!!!! :angry:

It's ridiculous. A decent 3 bedroom house in Cardiff shouldn't even be 200k, yet alone 200k over budget.

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It's ridiculous. A decent 3 bedroom house in Cardiff shouldn't even be 200k, yet alone 200k over budget.

Thank you! I know!

EA put up Under Offer sign this week! Who in their right mind would waste their money???

I want to scream from the roof tops - Homeowners stop being so B____y Greedy!

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This is part of the reason I will probably move out of cardiff. I have lived in cardiff all my life but now as a FTB I cant afford a nice house, they are just over priced pieces of crap!! My gf is from Merthyr so it is possible I may go up there. I can get a 3/4 bed detached in a lovely quiet area for the price of a 2 bed terraced in Cardiff. madness!!!!

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This is part of the reason I will probably move out of cardiff. I have lived in cardiff all my life but now as a FTB I cant afford a nice house, they are just over priced pieces of crap!! My gf is from Merthyr so it is possible I may go up there. I can get a 3/4 bed detached in a lovely quiet area for the price of a 2 bed terraced in Cardiff. madness!!!!

We're actually looking to move to Cardiff from mid Wales as there are limited job opportunities here and even more limited affordable houses (3 bed council houses easily go for £150k+). There seem to be a lot of affordable houses in Cardiff in the £120 - £160k range, or are we just looking at really bad areas? Where are the decent areas to live or are they all just vastly overpriced?

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We're actually looking to move to Cardiff from mid Wales as there are limited job opportunities here and even more limited affordable houses (3 bed council houses easily go for £150k+). There seem to be a lot of affordable houses in Cardiff in the £120 - £160k range, or are we just looking at really bad areas? Where are the decent areas to live or are they all just vastly overpriced?

Not so nice areas

Spoltt

Ely

Grangetown

parts of St Mellons

Gabalfa

Riverside

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Perhaps buy a house you can afford then?

My mate just bought a really nice semi just outside city centre for 130K with back garden and off road parking.

Seriously you cant look at houses for 300/400k as a FTB and then moan that your dream home is too expensive. Houses in Cardiff seem affordable from what I have seen my mate purchase.

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Perhaps buy a house you can afford then?

My mate just bought a really nice semi just outside city centre for 130K with back garden and off road parking.

Seriously you cant look at houses for 300/400k as a FTB and then moan that your dream home is too expensive. Houses in Cardiff seem affordable from what I have seen my mate purchase.

Appreciate what your trying to say, and it sounds like your mate has got himself a property he his happy with. In all fairness properties in Cardiff under the £150k mark are showing as dropping between 10-15% on property snake, so the potential is there.

Unfortunately for me, my the next step on the ladder isn't offering anywhere near as much in the way of percentage drops.

At present the market we are looking at is only offering 1-6% at best. I'm not a first time buyer, We have a generous deposit, both working, mortgage approved in principle, in rented and ready to go. I also have a young family so schooling needs are also a consideration. My dreams of a the next move being my last are fading, Reallistically, from information out there I can't see properties dropping much more until the interest rates are increased and not sure I can wait another 2 - 5 years. Anyone with advice? :(

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This is part of the reason I will probably move out of cardiff. I have lived in cardiff all my life but now as a FTB I cant afford a nice house, they are just over priced pieces of crap!! My gf is from Merthyr so it is possible I may go up there. I can get a 3/4 bed detached in a lovely quiet area for the price of a 2 bed terraced in Cardiff. madness!!!!

Seriously comparing Merthyr prices with Cardiff is as irrelevant as comparing Slough with London.

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This is part of the reason I will probably move out of cardiff. I have lived in cardiff all my life but now as a FTB I cant afford a nice house, they are just over priced pieces of crap!! My gf is from Merthyr so it is possible I may go up there. I can get a 3/4 bed detached in a lovely quiet area for the price of a 2 bed terraced in Cardiff. madness!!!!

There is a lack of jobs in Merthyr with many people claiming benefit or commuting to Cardiff for work which is why prices are lower.

If anybody wants to buy a nice big dream house, then they need to look outside of a city or large town.

Or go near to my home town of Burnley :unsure: You can buy a whole street in Burnley for the price of a 2 bed terrace in Merthyr :D

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not sure I can wait another 2 - 5 years. Anyone with advice? :(

what's wrong, has your current rental not got an inddor toilet or something?

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what's wrong, has your current rental not got an inddor toilet or something?

Tragically, such things are indeed still possible in Wales... I think.... :unsure:

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I bought a 3-bed semi in Whitchurch last year and I am very happy with it. I don't find prices here in Cardiff to be unreasonable at all.

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How odd that suddenly a few people have joined saying that prices in Cardiff are reasonable. :huh: When you consider what the average salary is in Cardiff, then compare that with average house prices, I'd suggest that the prices are still a pretty long way from reasonable... in fact it's surprising that many 'average' people in Cardiff can afford a place at all.

:blink:

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How odd that suddenly a few people have joined saying that prices in Cardiff are reasonable. :huh: When you consider what the average salary is in Cardiff, then compare that with average house prices, I'd suggest that the prices are still a pretty long way from reasonable... in fact it's surprising that many 'average' people in Cardiff can afford a place at all.

:blink:

when you have asking prices of £150k or more for a 2 bed terraced that would probably have been less than £60k in 2000, no they're not reasonable.

I went to view a flat for rent yesterday and had a good chat with the agent about the place I'm currently in and how my current landlord is up to his t1ts in negative equity.

He pretty much confirmed what I've been thinking for a while, that the landlord will have just been managing to stay afloat with the rent I've been paying. He said it's quite likely he got a 100% I/O mortgage and will barely be covering interest payments. Which also fits with him not paying the service charges, as that's much easier to get away with than not paying the mortgage.

He also mentioned he'd been to the launch parties for Meridian and the Hayes flats. And confirmed something else I've been thinking...

that it's still happening.

Crazy asking prices, and amateur BTLers still buying off plan.

You can see it in the rush of flats in those developments that have come on for rental. Typically asking £725 a month for a 1 bed, when the typical rate would be much closer to £600.

Even one example that came on for £895 pcm, although steadily dropped over a couple of months of void. Looks like there are still plenty of fools getting suckered at the launch parties and not even doing basic homework on purchase prices and likely rent figures.

This is what the future holds for them:

http://www.rightmove.co.uk/property-for-sale/property-35402501.html

That's just been repo'd, and would have been one of the more expensive flats in the development, so somewhere between £300k and £400k when originally purchased.

And I'm pretty sure it's the same one I was watching with PB for a while, steadily coming down in price. Not fast enough, it would seem.

I've really gone off the idea of buying in the big new build developments, they've been a disaster. Two bed terraced for me, with a back yard where I can grow herbs in pots.

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I bought a 3-bed semi in Whitchurch last year and I am very happy with it. I don't find prices here in Cardiff to be unreasonable at all.

Anyone who finds prices in Cardiff reasonable should be in Whitchurch all right.

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Fairly new to this property buying lark and still looking to settle with a long term family home.

Was wondering what fellow HPCers think - What would be considered a reasonable percentage drop considering the current/future market?

5 - 10 %

10 - 15 %

15 - 20%

20 - 25%

25 - 30%

> 30 %

I know of someone that was looking to buy, and before even stepping in to view a couple of properties in North Cardiff (<250K),

the estate agent suggested that 6% comes off asking price. Property hadn't been on the market long, had no chain. They eventually bought from that agent with 12% off asking price.

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Fairly new to this property buying lark and still looking to settle with a long term family home.

Was wondering what fellow HPCers think - What would be considered a reasonable percentage drop considering the current/future market?

5 - 10 %

10 - 15 %

15 - 20%

20 - 25%

25 - 30%

> 30 %

I know of someone that was looking to buy, and before even stepping in to view a couple of properties in North Cardiff (<250K),

the estate agent suggested that 6% comes off asking price. Property hadn't been on the market long, had no chain. They eventually bought from that agent with 12% off asking price.

Well, according to the land registry ACTUAL SOLD price figures the average house sells for about 90% of asking price. So 65 off asking price is rubbish isn't it?

Then, if you factor in today's RICs annoucement that they see house prices falling by 10% this year, and have urged sellers to get realistic, that means you should be looking at 80% of asking price if you buy today.

Trying to get a seller to accept that though is the interesting thing.

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Well, according to the land registry ACTUAL SOLD price figures the average house sells for about 90% of asking price. So 65 off asking price is rubbish isn't it?

Then, if you factor in today's RICs annoucement that they see house prices falling by 10% this year, and have urged sellers to get realistic, that means you should be looking at 80% of asking price if you buy today.

Trying to get a seller to accept that though is the interesting thing.

That is so true. Viewed property last week, been on for couple of months; it is vacant as vendors have already moved. We are renting, so no chain. Property is on for £300k, we were told offers had to be over £290k, they had refused £275k! We will probably wait a bit longer...

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Thanks Masked Tulip. Looks like I will have to stay put for a bit longer, If I'm going to get the right house in the right area for me.

I know it's a million dollar question, but what are the views of regulars. Are we looking at 2013-2015 before we see much bigger drops?

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Thanks Masked Tulip. Looks like I will have to stay put for a bit longer, If I'm going to get the right house in the right area for me.

I know it's a million dollar question, but what are the views of regulars. Are we looking at 2013-2015 before we see much bigger drops?

No idea - Public Sector dominated Wales seems to be in denial. Very little job cuts - YET - and low interest rates seems to be keeping people in their homes. Wales might have a blood bath in a few years when IRs rise and the UK no longer is prepared to finance Wales to have 70% public sector employees.

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