Welsh Property Market Shows Signs Of Improvement

[The Masked Tulip]

http://www.walesonline.co.uk/news/wales-news/2010/12/06/welsh-property-market-shows-signs-of-improvement-91466-27773477/

ESTATE agents welcomed signs of improvement in the Welsh property market yesterday, as new figures suggested house sales were bucking a downward UK trend.

Analysis by Agency Express, which puts up estate agent For Sale boards, found that while sales in the UK as a whole fell by 5.8%, they rose by 4.9% in Wales compared to the previous month.

Cardiff was one of the UK cities reported to have seen the biggest rise in monthly house sales, with an increase of 13.2%, alongside Exeter, Manchester and Colchester.

Wales also saw the smallest dip in the number of For Sale signs going up, at 1.9% lower than the month before. The UK as a whole saw a 12.6% drop in November compared to October. However, Cardiff saw a 21.7% monthly fall in November.

However, the relatively small dip in Wales still puts the number of houses coming on to the market up on previous years, with 12.3% more new instructions than in November 2009 and 50.4% more than the same month in 2008.

Mick McGuire, managing director of Peter Alan, which has offices across Wales, described the increased activity the business was seeing as a “ray of sunshine”.

Read More http://www.walesonline.co.uk/news/wales-news/2010/12/06/welsh-property-market-shows-signs-of-improvement-91466-27773477/#ixzz17K0pNelm

[NEO72]

Straws. Clutching. Using very possibly the most unreliable source of data i've ever come across. Welsh rags seem even worse than english ones for ramping - I know when I visit my folks in the north, their locals are always full of it.

Of course the first thing I notice when I go up there is the amount of for sale signs ironically.

[kilroy]

http://www.walesonline.co.uk/news/wales-news/2010/12/06/welsh-property-market-shows-signs-of-improvement-91466-27773477/

Read More http://www.walesonline.co.uk/news/wales-news/2010/12/06/welsh-property-market-shows-signs-of-improvement-91466-27773477/#ixzz17K0pNelm

I saw a guy on telly using an EA board as a snow shovel. Maybe they were replacing these?

[Pent Up]

I saw a guy on telly using an EA board as a snow shovel. Maybe they were replacing these?

That's a good point. A lot would have fallen down or been damaged during the "snowmaggedon." I wonder if replacements are taken into account?

It's funny you only every read about agency express when it's 'good' news.

However, the relatively small dip in Wales still puts the number of houses coming on to the market up on previous years, with 12.3% more new instructions than in November 2009 and 50.4% more than the same month in 2008.

It's going to take an awful lot of 'take it off the market into I can get a better price' to stop the price falls

Edited December 6, 2010 by Pent Up

[Democorruptcy]

This cannot be true in an area so dependent on the public sector and all the pay cuts.

Oh.... hang on ... there weren't any pay cuts were there? They have kept their bags of swag.

[Pent Up]

If anyone is interested: http://www.propertyactivityindex.co.uk/downloads/1/AE_november_2010_activity_index.pdf

[rantnrave]

Half the article is talking about more stock coming to market, which will bring prices down... If Wales is ahead on sales, perhaps that's indicative that prices there are falling faster than the rest of the country. Any thoughts here TMT?

[The Masked Tulip]

Half the article is talking about more stock coming to market, which will bring prices down... If Wales is ahead on sales, perhaps that's indicative that prices there are falling faster than the rest of the country. Any thoughts here TMT?

I was talking with another HPCer this morning pointing out that the bottom end of the market appears to be crashing and I am seeing quite a lot of sales up to about 150K... on properties that should be about 90K tops IMPO. It seems people can just about afford to buy these but nothing else.

At the top end I am seeing some sizeable chunks coming off asking prices but the original asking prices are so ludicrous the drops are meaningless.

In the middle - the 250K to 500K sector - it is almost, not all, completely stagnant with heels dug in firmly.

I was talking to some Public Sector types who tell me they do not sell any big PS job cuts happening in Wales now - the panic is over apparently and, at worst, the earliest any cuts in jobs will come will be next Summer.

I am going to be making some big decisions over Christmas between house buying in the next couple of months or simply upping sticks and going elsewhere re some job offers that are now materialising.

Having said that, several EAs who I consider reliable tell me the market is just dire and that it is a buyers' market. They tell me to get in now... but they are telling me to get in on ludicrous asking prices. I have a couple of EAs who quite openly will point to each house for sale and tell me what each is actually worth compared to asking price... but getting seller to accept the real price is nigh on impossible.

[Caius]

I am going to be making some big decisions over Christmas between house buying in the next couple of months or simply upping sticks and going elsewhere re some job offers that are now materialising.

Somehow I think that in a years time you'll still be stuck in Swansea moaning away about house prices and other things....

[Si1]

I was talking to some Public Sector types who tell me they do not sell any big PS job cuts happening in Wales now - the panic is over apparently and, at worst, the earliest any cuts in jobs will come will be next Summer.

10 years stagnation in the public sector

10 years stagnation i property prices

think about buying in 5 to 10 years, not 1, imho

[MrPin]

I was talking to some Public Sector types who tell me they do not sell any big PS job cuts happening in Wales now - the panic is over apparently and, at worst, the earliest any cuts in jobs will come will be next Summer.

Having said that, several EAs who I consider reliable tell me the market is just dire and that it is a buyers' market. They tell me to get in now... but they are telling me to get in on ludicrous asking prices. I have a couple of EAs who quite openly will point to each house for sale and tell me what each is actually worth compared to asking price... but getting seller to accept the real price is nigh on impossible.

A friend of mine is in a department (Private Company) thay have all been handed theri P45s after the "calm"!

[long time lurking]

I was talking with another HPCer this morning pointing out that the bottom end of the market appears to be crashing and I am seeing quite a lot of sales up to about 150K... on properties that should be about 90K tops IMPO. It seems people can just about afford to buy these but nothing else.

At the top end I am seeing some sizeable chunks coming off asking prices but the original asking prices are so ludicrous the drops are meaningless.

In the middle - the 250K to 500K sector - it is almost, not all, completely stagnant with heels dug in firmly.

I was talking to some Public Sector types who tell me they do not sell any big PS job cuts happening in Wales now - the panic is over apparently and, at worst, the earliest any cuts in jobs will come will be next Summer.

I am going to be making some big decisions over Christmas between house buying in the next couple of months or simply upping sticks and going elsewhere re some job offers that are now materialising.

Having said that, several EAs who I consider reliable tell me the market is just dire and that it is a buyers' market. They tell me to get in now... but they are telling me to get in on ludicrous asking prices. I have a couple of EAs who quite openly will point to each house for sale and tell me what each is actually worth compared to asking price... but getting seller to accept the real price is nigh on impossible.

Drove through Cardiff at the end off Oct never seen so many for let and for sale sings up in the student bedsit area at that time of year

it was every other house ,and they all looked empty

As stated above the bottom end of the market is starting to fall much quicker than the rest , that's in the S/E almost every sale is setting a new lower price in it`s area

But in the middle ground, that's not moving ,I know of three people friends/family in a SSTC position moving up but the chains have been stuck for going on six months now due to the ones below unable to sell at the price that would enable them to proceed one of them has a two bed terrace

on the market for 10k less than a three bed detached with garage ,and they are not 100meters away from each other total delusion in my eyes ,at sometime something has got to break

Edited December 6, 2010 by long time lurking

[Realistbear]

http://www.walesonline.co.uk/news/wales-news/2010/12/06/welsh-property-market-shows-signs-of-improvement-91466-27773477/

Read More http://www.walesonline.co.uk/news/wales-news/2010/12/06/welsh-property-market-shows-signs-of-improvement-91466-27773477/#ixzz17K0pNelm

Welsh prices should rebound sharply in the Spring as the South Coast is the new Riviera. As the UK is now immune to the collapse going on everywhere else now must be a good time to buy before prices soar in the Spring.

Brown is da man!

[rantnrave]

Welsh prices should rebound sharply in the Spring as the South Coast is the new Riviera. As the UK is now immune to the collapse going on everywhere else now must be a good time to buy before prices soar in the Spring.

Can we expect your name to change to the 'Realistneither' in the coming days?

[Realistbear]

Can we expect your name to change to the 'Realistneither' in the coming days?

I am thinking about a new name: Synical Sam.

The rest of the world pays for HPI and we just continue as if nothing had happened, relatively speaking. Brown may turn out to be a hero if we end up being the last man standing with the highest HPI in the world, highest employment, highest rated Bonds and no more QE.

[tinecu]

http://www.home.co.uk/guides/asking_prices_report.htm?county=swales&all=1

I can't see a recovery can you?

A flood of distressed sales perhaps!

[Bloo Loo]

the Market is improving.. Great news, maybe we can all afford a house without stupid stimulus, like, affordability criteria, IO, Buy with a friends and his dog, intergenerational finance, a banking collapse.