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Wales Is Finished - But Not Until Next Year


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I assume though that this is being repeated across the UK and is not just Wales atypical? If this is the level of cuts coming then the knock-on affect on job losses and, naturally, house prices will be enormous.

http://www.bbc.co.uk/news/uk-wales-11260029

Local authorities are predicting a budget shortfall of £609m over the next three years as public finances are squeezed.

Figures obtained by BBC Wales show that authorities are planning for cuts of between 5% and 20% to their budgets.

Cuts for 2010/11 will be absorbed by the Welsh Assembly Government.

Steve Thomas, chief executive of the Welsh Local Government Association (WLGA), said the figures were "conservative predictions".

He described the level of cuts as "frightening" but warned they could get worse and last up to a decade.

Dr Andrew Crawley, senior lecturer in economics at the University of West England, said cuts to councils were favoured by central government because they were "a quick way to bring down the deficit".

But he warned: "There will be a huge spillover effect on the local economy.

"In Wales where public sector employment is so high, and in areas like Swansea where it is over 30%, there will be a knock-on effect when jobs are lost."

I suppose I should not apply for that 5-a-day Fruit& Veg Welsh speaking TV Producer job then.

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Offers here coming in typically 20% below asking or more according to EA contact (S W Wales chain) - says the housing market has just completely died - nobody really seems serious about buying without massive discounts. Who knows, this could be a crash on the scale of Irelands. Never seen anything like this before.

Edited by gruffydd
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Offers here coming in typically 20% below asking or more according to EA contact (S W Wales chain) - says the housing market has just completely died - nobody really seems serious about buying without massive discounts. Who knows, this could be a crash on the scale of Irelands. Never seen anything like this before.

I am seeing loads of houses coming back on the market after going SSTC in the Spring/Summer - plenty more are still SSTC despite going SSTC in May and even as far back as April.

I think next year will become a bloodbath for house prices in Wales.

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I assume though that this is being repeated across the UK and is not just Wales atypical? If this is the level of cuts coming then the knock-on affect on job losses and, naturally, house prices will be enormous.

http://www.bbc.co.uk/news/uk-wales-11260029

I suppose I should not apply for that 5-a-day Fruit& Veg Welsh speaking TV Producer job then.

Our government, both central and local, is busted. We will follow the US with a lag of about 18 months. No way a £5TR debt can be repaid with a few cuts here and there. The pain has yet to be felt IMO as we are still in the "phoney war" stage.

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Offers here coming in typically 20% below asking or more according to EA contact (S W Wales chain) - says the housing market has just completely died - nobody really seems serious about buying without massive discounts. Who knows, this could be a crash on the scale of Irelands. Never seen anything like this before.

Not sure if I should have started a new thread with this insight, but this thread seems suitable.

"typically 20%", surely not, I just found a discount of 90%!!

Found on Zoopla, via it's 'biggest reduction' section, but I don't know how to provide a link.

The property is in Abergaveny, originally at £17,500,000, but now only £1,750,000!! :P:P

Bargains are about now, we just got to find em.

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  • 433 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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