copydude Posted July 1, 2009 Share Posted July 1, 2009 My local ironmonger pointed out that there was no recession today because the local paper had said that house prices were rising - that is the affect of the local rag in Swansea. Sad. These green shoots stories are being peddled everywhere, but two statistics I notice are progressive. Info I have seen for Swansea . . . Number of properties advertised for sale down around 40% from a year ago, average time on market 200 days - getting on for double. It's similar in my area . . . prices may move one or two percent, but the market as a whole is stagnating dramatically. Quote Link to comment Share on other sites More sharing options...
gus Posted July 2, 2009 Share Posted July 2, 2009 it's so sad when Swansea is having to be utilised this way to ramp up vested interests in the housing market It always has been and always will be an abomination. I know Swansea well . I was back there for a week in June and it's become a necrotic hell-hole. Streets taken over and full of tatoo parlours, tanning shops, hairdressers and jewellers . Perfectly mirroring a culture obsessed with superficiality and self-image; manifestly devoid of anything remotely introspective. Shop assitants unhelpful and abrasive and people suspicious and resentful of others who look or dress differently. Is Swansea any different or less tribal than the Newcastles , Leeds , or Liverpools ? I don't know , but if Swansea is representative of every other city in Britain today it's clearly time to pull the chain on the UK and start again. S'x prices are still dropping and will continue to drop. I'm told they'll go down another 5% this year with a further 10% drop next year. But if they drop another 50% would you want to live there? If they could detach the Gower from Swansea and push it into the channel I'd be interested. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 2, 2009 Author Share Posted July 2, 2009 If they could detach the Gower from Swansea and push it into the channel I'd be interested. The Gower has its own kind of hell - very insular, small-minded, a bit 'dopey' types living down there. I would not wish to live there. Quote Link to comment Share on other sites More sharing options...
gus Posted July 3, 2009 Share Posted July 3, 2009 Give me the backward-looking, rustic pantheists of dopey Gower every time. Grounded, adjusted and well seasoned by goods times and bad. You can keep the urbane, world-travelling, glittering socialite life-style of the Mumbles cognoscenti !!!! (Tongue firmly in cheek). Quote Link to comment Share on other sites More sharing options...
carrera Posted July 3, 2009 Share Posted July 3, 2009 Give me the backward-looking, rustic pantheists of dopey Gower every time. Grounded, adjusted and well seasoned by goods times and bad.You can keep the urbane, world-travelling, glittering socialite life-style of the Mumbles cognoscenti !!!! (Tongue firmly in cheek). There must be some professional mewer's in mumbles judging by prices and the fact that nobody wants to drop their price in the surrounding area until they get repossessed. Swansea just doesn`t have the economy to justify sustained prices - he public sector is the biggest employer .... and we all know what is going to happen there ....... with a correspodning house price result Quote Link to comment Share on other sites More sharing options...
gus Posted July 3, 2009 Share Posted July 3, 2009 There must be some professional mewer's in mumbles judging by prices and the fact that nobody wants to drop their price in the surrounding area until they get repossessed. Swansea just doesn`t have the economy to justify sustained prices - he public sector is the biggest employer .... and we all know what is going to happen there ....... with a correspodning house price result A battle-hardened and reasonable Ea in Mumbles gave me the 5/10% figures in June. The market is dodo (increases my asre) other than for the occasional 500K+ which apparently is still going to the City bandits who fancy occasional weekends away hang-gliding in Rhossili. Every nob end and his mother appear to be driving a Merc sports and MEW has certainly been the name of the tacky game in south Wales. "They can't afford to drop their price" is becoming deafening, and you're right..... when the Public Sector gets slashed then Swansea burns. Quote Link to comment Share on other sites More sharing options...
carrera Posted July 3, 2009 Share Posted July 3, 2009 A battle-hardened and reasonable Ea in Mumbles gave me the 5/10% figures in June. The market is dodo (increases my asre) other than for the occasional 500K+ which apparently is still going to the City bandits who fancy occasional weekends away hang-gliding in Rhossili.Every nob end and his mother appear to be driving a Merc sports and MEW has certainly been the name of the tacky game in south Wales. "They can't afford to drop their price" is becoming deafening, and you're right..... when the Public Sector gets slashed then Swansea burns. I have a contact high up in one of Swansea's biggest public sector employers who has just been offerred a "relocation"package to move ... reading betwen the lines he said that the cuts are imminent. If its any concilation, there are at least three fairly new modern houses in mumbles for sale that are well into negative equity and have been for over 18 months ...(take a look at the HIPS and the asking prices). There are a few for sale up on William Gammon Drive or thereabouts for the £400k + mark ... one house failed to sell at auction for £340k last year ... I`m afraid the penny still hasn`t dropped ...but it will, this whole bubble and crash is a carbon copy of the 90's except at a faster rate. HPC may be over, but recession crash will be the next leg down and I see no reason why the falls won`t be massive - the job cuts etc already are in comparison. Quote Link to comment Share on other sites More sharing options...
TheEmperorHasNoClothes Posted July 3, 2009 Share Posted July 3, 2009 I thought we woz all mwillionaires this time last year? nice avitar Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 3, 2009 Author Share Posted July 3, 2009 "They can't afford to drop their price" is becoming deafening, and you're right..... when the Public Sector gets slashed then Swansea burns. I have had several EAs tell me this about numerous properties in Swansea and on the Gower. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 3, 2009 Author Share Posted July 3, 2009 I have a contact high up in one of Swansea's biggest public sector employers who has just been offerred a "relocation"package to move ... reading betwen the lines he said that the cuts are imminent. If its any concilation, there are at least three fairly new modern houses in mumbles for sale that are well into negative equity and have been for over 18 months ...(take a look at the HIPS and the asking prices). There are a few for sale up on William Gammon Drive or thereabouts for the £400k + mark ... one house failed to sell at auction for £340k last year ... I`m afraid the penny still hasn`t dropped ...but it will, this whole bubble and crash is a carbon copy of the 90's except at a faster rate. HPC may be over, but recession crash will be the next leg down and I see no reason why the falls won`t be massive - the job cuts etc already are in comparison. The DVLA is bound to suffer big time - not just in admin jobs going but I suspect alot of the IT work will be cut meaning all those 600 per day consultants will be out of work. William Gammon Drive is interesting isn't it - would never buy there even if the prices were 200K. Penny will drop in S'sea sometime in late 2010 I think and from then on the next 5 years will be like the 1980s. No work, little to do, no way to make money. Quote Link to comment Share on other sites More sharing options...
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