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gruffydd

Sellers Pile Into West Wales Property Market

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I popped into an EA this afternoon after seeing the window full of properties 'New' stickers. The EA said the upturn in sentiment had prompted sellers who were holding off to pile back into the market.

What really took me aback were the asking prices. They were generally huge. Never seen anything like it. Higher than before the downturn began in many instances.

This on top of a recent crazy experience in Bristol in an area where terraces have been selling for as little as £150k only 6 months ago. Now going for full asking prices of 195k plus - latest 'snapped up' property sold for £210k. WTF!

Crazy times!

Edited by gruffydd

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...a recent crazy experience in Bristol in an area where terraces have been selling for as little as £150k only 6 months ago. Now going for full asking prices of 195k plus - latest 'snapped up' property for £210k. WTF!...

almost no areas experienced 25% annual growth even at the very peak of the bubble, so 25% growth in six months is clearly not going to be a trend that's observed with any kind of regularity... maybe you were looking at a forced seller with the £150k and a somehow forced [i.e. very stupid] buyer in the case of the £195k.

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almost no areas experienced 25% annual growth even at the very peak of the bubble, so 25% growth in six months is clearly not going to be a trend that's observed with any kind of regularity... maybe you were looking at a forced seller with the £150k and a somehow forced [i.e. very stupid] buyer in the case of the £195k.

Well the EAs are saying 'a supply issue' is forcing up prices in the area of Bristol I've been tracking (Bedminster). To be honest, most of the housing stock in that area is very poor - used to be a very poor part of Bristol. Not an area I would ever be interested in, but the area is popular with BTL scum and young families. Another thing I heard today is that landlords are finding it very difficult to get tenants across the area due to an over-supply of rentals.

Edited by gruffydd

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LMAO! Nuts! :lol::lol::lol: Whether it is pure greed or a collective mass hysteria, or a bit of both, but this is just stupid.

There is NOTHING in West Wales beyond Swansea and Swansea is sinking by the day. Give it a couple of years and there will be little work beyond Cardiff.

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Well the EAs are saying 'a supply issue' is forcing up prices in the area of Bristol I've been tracking (Bedminster)...

probably best that you tell them a 'demand issue' means that you won't be touching their overpriced stock with a bargepole.

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Who gives a flying fvck about the West Wales property market?

Flight of capitol to the last UK house bubble maybe? Poor genetics?

Wouldn`t agree with that, we are all the same at the basic level, but sheeple keep letting their lower mind run riot by watching TV etc. There is definately something in the water in the Uk when Jordan is a celebrity, and people will just not let go this property as my wealth my dick my pension thing?

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I've heard a similar story about the Peak District (Buxton/Castleton/Hathersage etc.) - colleague says that anything half decent gets snapped up within a week of going on the market at or near the asking price. Crazy I know, but I've no reason to disbelieve her. Meanwhile, nearby cities like Derby and Sheffield are suffering.

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I've heard a similar story about the Peak District (Buxton/Castleton/Hathersage etc.) - colleague says that anything half decent gets snapped up within a week of going on the market at or near the asking price. Crazy I know, but I've no reason to disbelieve her. Meanwhile, nearby cities like Derby and Sheffield are suffering.

Here in W Wales, loads more properties hitting the market at mad prices, but virtually nothing is selling. Many vendors seem to be expecting some kind of upturn, judging by pricing. Mass delusion.

Sellers are piling back into the market. Buyers definitely aren't.

Edited by gruffydd

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.

Sellers are piling back into the market. Buyers definitely aren't.

I'd say this surely means were heading into another downward phase.

The more people market houses and realize there not going to sell, the more in tune with reality people become.

what bank would lend to someone in west wales, at these prices. the average wage in west wales is about 70 quid a month.

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I would like to verify Gruffydds observations of Bristol. Asking prices have gone bonkers. Fancy a 3 bed terrace in S. Bristol, that'll be a quarter of a miilion please. :o:lol:

Whether they sell is another matter.

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I would like to verify Gruffydds observations of Bristol. Asking prices have gone bonkers. Fancy a 3 bed terrace in S. Bristol, that'll be a quarter of a miilion please. :o:lol:

Whether they sell is another matter.

It's mind boggling when you consider Bedminster offers some of the worst housing stock in the city. I wouldn't ever buy there. Some have suggested Cabot circus is having an impact on house prices in the city centre? I quite simply have no idea.

Edited by gruffydd

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It's mind boggling when you consider Bedminster offers some of the worst housing stock in the city. I wouldn't ever buy there. Some have suggested Cabot circus is having an impact on house prices in the city centre? I quite simply have no idea.

I like Bedminster. Quieter than N. Bris. Plenty of shops. Walk to waterfront or town or Ashton Court. Safe enough crime wise, as Bris goes.

Rip off house prices though.

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And not far from Bristol, in WSM, here is one seller who has increased price and sold. But I wonder if it will actually progress to completion?

http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse

History

date event

23 July 2009

* Status changed: from 'Available' to 'Sold STC'

04 July 2009

* Price changed: from '£279,950' to '£289,950'

02 July 2009

* Initial entry found

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A rise in ASKING prices

Sold subject to CONTRACT.... i.e. getting finance.

I could advertise my car for £100,000 and someone could offer me £100,000 for it.

They wont get the financing for it though.

The last few suckers are being drained of money in the bull trap.

None of this is unexpected.

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i think it would be bloody funny to have a "return to normal" 2007 phase right now.

Its happening and its very real!!

Try buying a house now, and you will be shocked! Things have change a lot since the start of the year, and the new boom is getting bigger, not slowing down.

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Its happening and its very real!!

Try buying a house now, and you will be shocked! Things have change a lot since the start of the year, and the new boom is getting bigger, not slowing down.

Brilliant

For the next month or so, I want to hear the property types go on about the great property investment strategy, how the market has bottomed, how property always goes up, how they knew all along, how we shouldn't miss the train and to get in now. I want sheeple to be sucked in, taking money from the bank of mum and dad because there will never be another opportunity to get a roof over their heads. I want them to be blinded by £££, I want them to make their decision based on a combination of fear, greed, and stupidity. I want them to miss the big picture, I want them to ignore the fact that the economy is in the sh1tter and will be that way for many years to come. I want the media to whip them up into a frenzy, where they believe in the great property mantra again. I want Kirsty to appear on TV villified and I want her to start making a new series called "property always goes up, me and the bald bloke were right innit".

I want the market to work its evil magic on these stupid fools so that when the next leg kicks in there's absolutely no money left to support this market and it comes a tumbling down hard as nails and cuts off the hands of the idiots that tried to buck the age old saying of not to catch a falling knife. Then I'm going to buy a gigantic house and live in it till some sucker buys it off me in 20 years for the price of a large island off the coast of barbados where I'm going to go and live out the rest of my days away from all this madness.

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Guest DissipatedYouthIsValuable
Its happening and its very real!!

Try buying a house now, and you will be shocked! Things have change a lot since the start of the year, and the new boom is getting bigger, not slowing down.

Tidy!

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Its happening and its very real!!

Try buying a house now, and you will be shocked! Things have change a lot since the start of the year, and the new boom is getting bigger, not slowing down.

to be fair mate i just checked your posts from the weeks after you signed up earlier this year and you were saying much the same thing then.

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Brilliant

For the next month or so, I want to hear the property types go on about the great property investment strategy, how the market has bottomed, how property always goes up, how they knew all along, how we shouldn't miss the train and to get in now. I want sheeple to be sucked in, taking money from the bank of mum and dad because there will never be another opportunity to get a roof over their heads. I want them to be blinded by £££, I want them to make their decision based on a combination of fear, greed, and stupidity. I want them to miss the big picture, I want them to ignore the fact that the economy is in the sh1tter and will be that way for many years to come. I want the media to whip them up into a frenzy, where they believe in the great property mantra again. I want Kirsty to appear on TV villified and I want her to start making a new series called "property always goes up, me and the bald bloke were right innit".

I want the market to work its evil magic on these stupid fools so that when the next leg kicks in there's absolutely no money left to support this market and it comes a tumbling down hard as nails and cuts off the hands of the idiots that tried to buck the age old saying of not to catch a falling knife. Then I'm going to buy a gigantic house and live in it till some sucker buys it off me in 20 years for the price of a large island off the coast of barbados where I'm going to go and live out the rest of my days away from all this madness.

++1 Brilliant! Cheered up a boring Friday afternoon at work, thanks :P

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Who gives a flying fvck about the West Wales property market?

Flight of capitol to the last UK house bubble maybe? Poor genetics?

Why did you click on and reply to the topic then?? :P

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Well the EAs are saying 'a supply issue' is forcing up prices in the area of Bristol I've been tracking (Bedminster). To be honest, most of the housing stock in that area is very poor - used to be a very poor part of Bristol. Not an area I would ever be interested in, but the area is popular with BTL scum and young families. Another thing I heard today is that landlords are finding it very difficult to get tenants across the area due to an over-supply of rentals.

+1

I watched several friends buy in 2007 (some in Bedminster, others in areas around it). Why would anyone buy a house in an area where the wife feels unsafe walking home alone at night is beyond me. Oh, I forgot, they couldn't afford anywhere else. I am renting a large semi-det elsewhere for a reasonable price as rent is dropping across the city.

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Brilliant

For the next month or so, I want to hear the property types go on about the great property investment strategy, how the market has bottomed, how property always goes up, how they knew all along, how we shouldn't miss the train and to get in now. I want sheeple to be sucked in, taking money from the bank of mum and dad because there will never be another opportunity to get a roof over their heads. I want them to be blinded by £££, I want them to make their decision based on a combination of fear, greed, and stupidity. I want them to miss the big picture, I want them to ignore the fact that the economy is in the sh1tter and will be that way for many years to come. I want the media to whip them up into a frenzy, where they believe in the great property mantra again. I want Kirsty to appear on TV villified and I want her to start making a new series called "property always goes up, me and the bald bloke were right innit".

I want the market to work its evil magic on these stupid fools so that when the next leg kicks in there's absolutely no money left to support this market and it comes a tumbling down hard as nails and cuts off the hands of the idiots that tried to buck the age old saying of not to catch a falling knife. Then I'm going to buy a gigantic house and live in it till some sucker buys it off me in 20 years for the price of a large island off the coast of barbados where I'm going to go and live out the rest of my days away from all this madness.

+1

You forgot the bit about driving round aspirant housing estates wearing Raybans in your 2nd hand but mint Mercedes Convertible playing 'Hard Times' really loudly on the Stereo before hurtling off in a cloud of tyre smoke.

A long time coming but its going to be FANTASTIC.

Agree with your post except substitute medium sized house with 2 acres of prime arable. For my sins I've decided to stay.

Edited by xux42

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I've heard a similar story about the Peak District (Buxton/Castleton/Hathersage etc.) - colleague says that anything half decent gets snapped up within a week of going on the market at or near the asking price. Crazy I know, but I've no reason to disbelieve her. Meanwhile, nearby cities like Derby and Sheffield are suffering.

Yup. Relative in Glasgow sold flat in two weeks. It was in an excellent location. They took a small loss as they bought several years ago. Despite my best efforts they are looking to buy another flat but hopefully the lack of suitable supply will force them to rent.

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