spxy Posted January 23, 2014 Share Posted January 23, 2014 Lots of overpriced properties on the market in Cyncoed in Cardiff over the last year hovering around the £1million mark, none have sold...first of the big drops http://www.rightmove.co.uk/property-for-sale/property-39814102.html, hope this impacts further down... Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted January 26, 2014 Share Posted January 26, 2014 yeah but look at the state of it! would likely need 200k to update it! everything would need to be replaced and some remodelling wouldn't go a miss Quote Link to comment Share on other sites More sharing options...
olde guto Posted January 26, 2014 Share Posted January 26, 2014 I've often wondered who the heck (apart from property speculators and footballers) buys these £500k+ properties in places like Cardiff and Swansea. Some of these expensive houses in places like Cyncoed have been on sale for over 4 years. Quote Link to comment Share on other sites More sharing options...
Clarky Cat Posted January 26, 2014 Share Posted January 26, 2014 I've often wondered who the heck (apart from property speculators and footballers) buys these £500k+ properties in places like Cardiff and Swansea. Some of these expensive houses in places like Cyncoed have been on sale for over 4 years. What about professional couples in their 40s who rode the last boom up? They might have £200k+ in equity. Combined income of £100k on a 4x salary mortgage (I.e "mortgaging to the hilt") and loads of these £500-700k houses are within reach . They may well be expecting future HPI from personal experience and would view £700k for a house in Mumbles or Langland as normal. There's more of them than footballers and speculators. Quote Link to comment Share on other sites More sharing options...
spxy Posted January 27, 2014 Author Share Posted January 27, 2014 yeah but look at the state of it! would likely need 200k to update it! everything would need to be replaced and some remodelling wouldn't go a miss yep same goes for almost all the houses on sale in Cyncoed at the moment...its a start though, its a very big house, and others will have to follow.... Quote Link to comment Share on other sites More sharing options...
spxy Posted January 27, 2014 Author Share Posted January 27, 2014 I've often wondered who the heck (apart from property speculators and footballers) buys these £500k+ properties in places like Cardiff and Swansea. Some of these expensive houses in places like Cyncoed have been on sale for over 4 years. ..plenty of people on Cardiff can afford 500K+ properties , you need to take into account all the self-employed small-large business owners in the area...all those who bought property over 10 years ago and those who have inherited a property... Quote Link to comment Share on other sites More sharing options...
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