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campervanman

Cardigan/stdogmaels

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Been looking on RM recently and there seems to be a bit of an unloading of holiday homes going on with prices falling for these type of properties, 2/3 bed character cottages, as a result. Anyone live there who could confirm/deny my observations?

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Drove through there last week and was paying more attention to those bl00dy speed bumps they've put down there than the for sale signs, sorry.

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Gruffydd has been posting on the main forum about a bloodbath of people in trouble re second homes, holiday homes in the Pembs/Cardigan Bay areas.

A few other posters have directed me to West Wales Properties website where there appears to be your choice of house in West Wales - loads on there.

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I can confirm - also recently told a lot of Cardigan properties have been up for auction at the moment, which might imply serious underlying probs in local housing market.

Falls all down the west coast - the btl holiday home brigade are losing money hand over fist with terrible year for rentals - then there are the tax changes too.

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Can you guys give me some postcodes so I can do some looking on RM?

You could try somewhere else like say Padstow or Rock? PL28 8AY.

The reason for panic will be the fall in prices starting BUT ALSO the tax changes likely to be kept from Labours last budget - these properties do not pay for themselves and people have been doing so by deducting their loss from their income tax. Yes, it was legal!

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There are also new tax changes (hikes) on furnished holiday homes to comply with EU guidelines I think. I remember an EA telling me most of these letting properties break even as a best case scenario - the tax changes are crucial.

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I was just chatting with a local EA who expressed to me that she felt that the land registry selling prices online were not a good thing.

I asked why but got no answer so suggested that it was so that gulliable buyers would not see what the houses recently sold for and then realise the enormous difference between last sold for price and current ludicrous asking price... and stated that I felt that most local asking prices wwre ludicrously over the top.

To which I got the response of "Perhaps a buyer will come from London who will not check what the house last sold for.".

Incredible!

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I was just chatting with a local EA who expressed to me that she felt that the land registry selling prices online were not a good thing.

I asked why but got no answer so suggested that it was so that gulliable buyers would not see what the houses recently sold for and then realise the enormous difference between last sold for price and current ludicrous asking price... and stated that I felt that most local asking prices wwre ludicrously over the top.

To which I got the response of "Perhaps a buyer will come from London who will not check what the house last sold for.".

Incredible!

Before we moved to France we tried to buy in Cardiganshire but were outbid by London (more cash than brains) types on a couple of houses we were looking at back in 2007. One of the places at a John Francis auction, a 2 bed cottage with a little bit of land just outside Cardigan went for 256k , guided at 170k, needed 50-75k spending, now worth about 200k at most if done up. Believe me, your agent is right, these idiots are out there.

Edited by campervanman

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I was down that way a couple of weeks ago. There were lots of sale boards up then and propertysnake showed several properties that had been on for a long time. At that point though there were not many falling prices - there seem to have been a whole swathe in the past fortnight.

All good!

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I was down that way a couple of weeks ago. There were lots of sale boards up then and propertysnake showed several properties that had been on for a long time. At that point though there were not many falling prices - there seem to have been a whole swathe in the past fortnight.

All good!

The EAs in Swansea are mostly trying to convince me that Sept will be a boom month. For me it is the start of the long wind down into Winter and in the coming weeks I will be stopping looking and concentrating on maximising my cash.

Silly attitude IMPO really - thinking that as the nights draw in that people are going to be thinking of viewing houses let alone moving.

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The EAs in Swansea are mostly trying to convince me that Sept will be a boom month. For me it is the start of the long wind down into Winter and in the coming weeks I will be stopping looking and concentrating on maximising my cash.

Silly attitude IMPO really - thinking that as the nights draw in that people are going to be thinking of viewing houses let alone moving.

Agreed - for people with kids, the school year has started and it's too late to be looking; for people without the usual boom time is spring with days drawing out and bright viewing mornings. I suspect the EA's comments were more a statement of faith. I expect to see the market gutted over there in the coming months as more holiday and second homes are put up for sale. (But maybe that's just wishful thinking! :))

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Agreed - for people with kids, the school year has started and it's too late to be looking; for people without the usual boom time is spring with days drawing out and bright viewing mornings. I suspect the EA's comments were more a statement of faith. I expect to see the market gutted over there in the coming months as more holiday and second homes are put up for sale. (But maybe that's just wishful thinking! :))

Nah, it is not just wishful thinking - I hearing the same thoughts from various people now, even some of the enlightened EAs.

I think many EA firms have made a rope for their own neck with the, IMPO, ludicrous valuations/asking prices. Heck, I am fortunate to be in a cash buyer position and I can't be bothered looking in S'sea anymore. Not worth my time to view some ludicrously priced/valued property just to please the ego of, IMPO, some deluded EA and seller.

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Nah, it is not just wishful thinking - I hearing the same thoughts from various people now, even some of the enlightened EAs.

I think many EA firms have made a rope for their own neck with the, IMPO, ludicrous valuations/asking prices. Heck, I am fortunate to be in a cash buyer position and I can't be bothered looking in S'sea anymore. Not worth my time to view some ludicrously priced/valued property just to please the ego of, IMPO, some deluded EA and seller.

If you go to PropertySnake there are some good falls (49%) and some very interesting comments at the foot of the page, eg

my house has been on the market for 7 months. there is no change and it is now vacant possession as we accepted a flat from housing association. it is causing a great deal of stress and we will have to drop price for 2nd time now. we paid 85,ooo 3 yrs ago and it was valued at 120,000. we dropped to 117,00 and are now going down to 115,000.

Some of the prices make me smile though - if your house has been on the market for 319 days, wouldn't you consider dropping by more than 3%? Or this one where they've dropped 1% on a property starting at £709k.

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Ahh, missed this. My home town. Currently trying to buy back in Cardigan or hopefully St dogmeals. I noticed a load of new for sale signs last time i was there (early August) But cant say i saw any bargains. They however will surely follow if they continue to linger.

i really want to buy at auction as the last auction i went to, Allthough i couldnt afford to match the final bid, it was an absolute steal. 112k for a beautifull 3 bed cottage with lovely garden in need of total refurb. Probably would have sold for 220 at peak. Auctions seem the best place for a bargain but they dont come up very often.

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We spent a week near Fishguard in July and it seemed that every other house was for sale.

The for sale signs were everywhere.

Big exodus of English back to the SE, Irish back to Eire so I am told.

I doubt there have been any serious big house drops in asking prices?

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  • 146 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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