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Surely 700k would buy you a seriously desirable house in cardiff?

Agreed. You're looking at a very large detached in one of the better areas for that kind of money.

You can pick up nice size 4 bed detached in good areas of Cardiff for under £250K without looking too hard.

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Despair continues - property has just come on the market in CF15; 3 bed on at £239k, estate type house....the kicker is an identical one (with garage converted but not such good internal condition) sold for £190k last September! Had chat with EA who said the market was far better now and price was justified - we'll see; it is one I shall watch with interest but would be totally disheartening to see it sell at £50k more than previous one.

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Despair continues - property has just come on the market in CF15; 3 bed on at £239k, estate type house....the kicker is an identical one (with garage converted but not such good internal condition) sold for £190k last September! Had chat with EA who said the market was far better now and price was justified - we'll see; it is one I shall watch with interest but would be totally disheartening to see it sell at £50k more than previous one.

Sorry to hear you're still having trouble finding somewhere reggie. If it's any consolation I went to see the one in CF15 that went for £190K and it was a bit of a dump. At least £10K needed spending IMO. I think I know the one you're talking about on at £239K and it does look as if it's in much better nick , although not to the tune of £50K obviously. The thing that bothered me about it when I saw it was the high hallway - I just thought it would cost a fortune in wasted heating.

They're all trying it on at 2007 prices again at the moment in CF15, although have you noticed that very little is going SSTC, in comparison to last summer when most sold at around 2004-2006 prices. Also, it seems that there is more competition among agents - am noticing more different boards around the place. I think that those early 2009 prices will be the norm again by the summer. Long term, I still think it will retrace back to 2002-03 prices (CF15 was pretty static from 2005 onwards it seems).

Good luck anyway.

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Yes, those are the ones I'm talking about. I know what you mean about the high hallway - waste of space and heat loser. Have you since bought? I can't see the latest selling at that price, but I've been proved wrong before! However, there are 4 beds at a similar price so I don't think someone would opt for a bedroom less for a difference of £5k. Who knows? We came close to buying a couple of months ago, but again felt the amount of work needed was too much for the price being asked; it has since sold. I think we may become bystanders until after the election when I do honestly think things will change - not sure by how much but I don't see how this pricing can be sustained.

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Yes, those are the ones I'm talking about. I know what you mean about the high hallway - waste of space and heat loser. Have you since bought? I can't see the latest selling at that price, but I've been proved wrong before! However, there are 4 beds at a similar price so I don't think someone would opt for a bedroom less for a difference of £5k. Who knows? We came close to buying a couple of months ago, but again felt the amount of work needed was too much for the price being asked; it has since sold. I think we may become bystanders until after the election when I do honestly think things will change - not sure by how much but I don't see how this pricing can be sustained.

Yes I did buy in the end - a 'fixer upper' that I did for a reasonable amount (no building work)of money but a huge amount of my own graft! I worked out that I paid around 2003 price for it, and am glad I took the plunge in the end. I reckon I'll 'lose' a bit on it in the end but was so sick of renting that I no longer cared about this risk. I could see that new properties were coming on at 2007 prices and thought it was my last chance to buy at a 'good' price for another year at least - this was late Summer last year. Felt crazy to be in such a weak position as a buyer in the middle of a recession, but there was no sense of a shortage of buyers.

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Good for you - I would rather be in your shoes than watching this market from here. I'd happily go for a doer upper, but the ones we've seen would require buiding work and with children that's not so easy.....so we watch and wait.

Edited by reggie
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Another update! New property on the market, same road as the £239k one, but it looks like this might have a small conservetory....so it's on at £249k - only £60k more than the one that went for £190k in Sept 2009 ; I'm not surprised by anything any more

60K can do you a lot of work. 30K can - and it is done the way you want not the way others want.

Perhaps in one of the more expensive houses the people selling now have an eye on the cheaper one - sell theirs for 250Kish, buy the 190Kish for 170K or therabouts and start all over again, spend 30K on it and then flog it for 250K?

Something to think about?

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I would say the one that went last September didn't need that much spent on it - about £10k max, these look better decoratated - certainly not worth this much more imo. There are small 4 beds on same estate at the same sort of price; It will be interesting to watch and see what happens with these. the one that went last September took quite some time to sell, but then it did start at £239k!

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  • 3 weeks later...

I noticed that - don't really understand people's logic when there's a 4 bed around the corner for the same sort of money! I do think when prices drop it will be the estate type houses which will drop the furthest; the individual ones in non estate positions will lose less I think.

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I noticed that - don't really understand people's logic when there's a 4 bed around the corner for the same sort of money! I do think when prices drop it will be the estate type houses which will drop the furthest; the individual ones in non estate positions will lose less I think.

Prices are being cut quite drastically over parts of the Vale and Cardiff

I noticed that 99% of banks have cut what they will lend to people as well ... was having a meeting with my bank manager today and it appears that they are feeling very bearish.. and lending accordingly (it was Barclays by the way)..

I`m half tempted to go book some viewing and make some silly offers .. it is spring after all ...

I also spoke to an agent on saturday who told me they were taking lots on but buyers who were proceedable were few and far between... they were actively reviewing the property on their books to see if they could get sellers to drop the prices and strongly advising sellers to take a resonable proceedable offer ..!!!

Double dip here we come ...

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I also spoke to an agent on saturday who told me they were taking lots on but buyers who were proceedable were few and far between... they were actively reviewing the property on their books to see if they could get sellers to drop the prices and strongly advising sellers to take a resonable proceedable offer ..!!!

Which agent was this? I spoke to one agent a few weeks ago who said they were 'oh so busy...' and gave the line that times were good - I'm hoping that was the end of the blip.! One of the properties we looked at, which sold a couple of months ago, is now back on the market - we had an offer of 15% below turned down on that one and the agent said that there had been a couple of higher offers - one supposedly proceedable and the other with property to sell - sounds like she went for the latter and the chain has broken. Will watch with interest but wouldn't be surprised if another sold sign went up within a short period.

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I also spoke to an agent on saturday who told me they were taking lots on but buyers who were proceedable were few and far between... they were actively reviewing the property on their books to see if they could get sellers to drop the prices and strongly advising sellers to take a resonable proceedable offer ..!!!

Which agent was this? I spoke to one agent a few weeks ago who said they were 'oh so busy...' and gave the line that times were good - I'm hoping that was the end of the blip.! One of the properties we looked at, which sold a couple of months ago, is now back on the market - we had an offer of 15% below turned down on that one and the agent said that there had been a couple of higher offers - one supposedly proceedable and the other with property to sell - sounds like she went for the latter and the chain has broken. Will watch with interest but wouldn't be surprised if another sold sign went up within a short period.

Don`t believe the hype ... a lot of agents when pushed will admit it is now a buyers market more than ever, especially in the mid range properties. If your offer gets turned down just walk away. The most dangerous thing to do is buy a house on emotion - look at it as a business transaction and on the basis of value for money.

One house I have booked to view has been dropped 30% since 2008 and still cannot find a buyer ... says how over heated the market was in certain areas. Seller will now take a hit to get rid. I had looked at Cardiff for a house but people delusional about values but for the same money and commuting costs I can now buy within 15 miles and get far more value for money. I have a feeling I may be tempted into the market yet.... however as I have a tenancy for the next few months, it would be a great time to find a worhwhile project to do over the summer ..

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Don`t believe the hype ... a lot of agents when pushed will admit it is now a buyers market more than ever, especially in the mid range properties. If your offer gets turned down just walk away. The most dangerous thing to do is buy a house on emotion - look at it as a business transaction and on the basis of value for money.

One house I have booked to view has been dropped 30% since 2008 and still cannot find a buyer ... says how over heated the market was in certain areas. Seller will now take a hit to get rid. I had looked at Cardiff for a house but people delusional about values but for the same money and commuting costs I can now buy within 15 miles and get far more value for money. I have a feeling I may be tempted into the market yet.... however as I have a tenancy for the next few months, it would be a great time to find a worhwhile project to do over the summer ..

How do you think Wales will fare in the coming public sector cull? Just begining to wonder whether aiming to buy a house in Wales in the next 10 years is a sensible option?

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Don`t believe the hype ... a lot of agents when pushed will admit it is now a buyers market more than ever, especially in the mid range properties. If your offer gets turned down just walk away. The most dangerous thing to do is buy a house on emotion - look at it as a business transaction and on the basis of value for money.

One house I have booked to view has been dropped 30% since 2008 and still cannot find a buyer ... says how over heated the market was in certain areas. Seller will now take a hit to get rid. I had looked at Cardiff for a house but people delusional about values but for the same money and commuting costs I can now buy within 15 miles and get far more value for money. I have a feeling I may be tempted into the market yet.... however as I have a tenancy for the next few months, it would be a great time to find a worhwhile project to do over the summer ..

I really can't understand why people seriously think about paying such inflated Cardiff prices when, for the same money or less ,you can buy somewhere with land, views and no close neighbours up those valleys .

An area transformed with rail links up all of them now, I'm pretty sure.

I wonder how much of the old denigratory... "from the valleys are you boyo" labelling is actually still responsible for peoples' reluctance to move north ? Better for the ego to say you live in a matchbox in Lisvane than an old farmhouse with 12 acres in Bedlinog maybe? Or am I missing something and overstating the posturing/posing dimension?

You're right about prices. Signs of drops all over south and west wales. One I've watched in Swansea for a while , dropped from 650K to 525K where it lingered for 18 months. Last week it dropped further to 499K. Going in the right direction but still 75K too heavy. This mantle of super-overvaluation is going to take a dose of Semtex to remove I fear.

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One of the properties we looked at, which sold a couple of months ago, is now back on the market - we had an offer of 15% below turned down on that one and the agent said that there had been a couple of higher offers - one supposedly proceedable and the other with property to sell - sounds like she went for the latter and the chain has broken. Will watch with interest but wouldn't be surprised if another sold sign went up within a short period.

It looks like this has now been sold again - can't say I'm surprised; things are not slowing in CF15 just yet.

Edited by reggie
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  • 2 weeks later...

Anyone else been watching the houses going on Rightmove recently - been some big cuts in all post codes - some very significant.

Have also seen a few houses go SSTC - whether they will complete will be a different matter; I note a few houses that went SSTC last year never actually completed but are down as sold on the agents web sites ... its all spin as far as I can see.

Houses in Bridgend seem to be getting hit hard as well - lots of properties in negative equity and people taking a hit to sell .. dragging down their neighbours value in the process, likewise in a lot of the Vale. There seems to be a lot of "to rent or to sell" as well going on.

I think Wales is getting very nervous about the post election land scape ... I know a few people very worried about their non-jobs.

Several friends in the private sector tell me things have changed back to 2008 levels - no pay rises this year (again) and even pay cuts in some cases.

Very interesting turn in the market and anything over the £500k mark seems to be unsellable unless it has lots of land and is in immaculate condition - which a lot of older properties are not, but still people seek big figures for a run down property. I wish them luck.. its only getting worse from my perspective .. and this is the calm before the cull!!

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Anyone else been watching the houses going on Rightmove recently - been some big cuts in all post codes - some very significant.

Have also seen a few houses go SSTC - whether they will complete will be a different matter; I note a few houses that went SSTC last year never actually completed but are down as sold on the agents web sites ... its all spin as far as I can see.

Houses in Bridgend seem to be getting hit hard as well - lots of properties in negative equity and people taking a hit to sell .. dragging down their neighbours value in the process, likewise in a lot of the Vale. There seems to be a lot of "to rent or to sell" as well going on.

I think Wales is getting very nervous about the post election land scape ... I know a few people very worried about their non-jobs.

Several friends in the private sector tell me things have changed back to 2008 levels - no pay rises this year (again) and even pay cuts in some cases.

Very interesting turn in the market and anything over the £500k mark seems to be unsellable unless it has lots of land and is in immaculate condition - which a lot of older properties are not, but still people seek big figures for a run down property. I wish them luck.. its only getting worse from my perspective .. and this is the calm before the cull!!

Interesting.

Yes, Wales will be an economic bloodbath after the election - Ken Clarke has made it clear what the Tories think about how bloated the Welsh public sector is. The job cuts will be enormous and, as we have no private sector to speak of, will be fecked.

By the time house prices collapse many of us may no longer wish to buy here.

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Just a little background, my wife and I are currently renting in the Pontcanna area of Cardiff and have been viewing properties with the idea of buying a 3-bed house with garden. In and around this area prices just seem to be constantly rising. A house came on the market today which was last sold in 2007 for £170,000. They are asking £240,000 for it now. It has clearly been decorated recently from the pictures, but is it really worth £70,000 more than in 2007?

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Quick answer - No! Will anyone pay that for it? You'd hope the answer would be the same - No; but I've given up second guessing people around Cardiff and now am no longer certain of anything regarding houses and their value.! There is a 2 bed bungalow near us, which has been on the market for a couple of years - starting at £350k, is now £290k - the day that sells is the day I throw the towel in.

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Quick answer - No! Will anyone pay that for it? You'd hope the answer would be the same - No; but I've given up second guessing people around Cardiff and now am no longer certain of anything regarding houses and their value.! There is a 2 bed bungalow near us, which has been on the market for a couple of years - starting at £350k, is now £290k - the day that sells is the day I throw the towel in.

Unfortunately there will always be the odd few people who will buy an overpriced asset, maybe because they have some easy money or other personal circumstances dictate that to them it makes a logical choice. But easy come - easy go them and will bite them.

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Houses in Bridgend seem to be getting hit hard as well - lots of properties in negative equity and people taking a hit to sell .. dragging down their neighbours value in the process, likewise in a lot of the Vale. There seems to be a lot of "to rent or to sell" as well going on.

I would be interested in Bridgend (birth town) if you could keep us updated please, possibly with links.

My own impression of Bridgend lovely area for walks. Newbridge fields walking along the river Ogmore towards the stepping stones. The town itself blighted by unemployment, and poor council rejuvenation projects (ie knocking down the town hall).

The broadlands house prices still seem expensive?

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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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