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The Masked Tulip

'it's Good But Not That Good For Property'

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ESTATE agents in Llanelli have disputed claims that house prices in the town shot up nearly eight per cent in a year — more than anywhere else in Wales.

Figures released by property website Rightmove suggest the average house in Llanelli cost 7.9 per cent, or £9,930, more this December than this time last year.

These figures buck the trend across South Wales, where the average house price is said to have fallen by 1.7 per cent over that period — and by 5.5 per cent in neighbouring Swansea — and, although generally positive about the way things are going in the area, local salespeople are not convinced by the lofty claims.

Stuart Davies, of Peter Morgan Estate Agents, said: "There has been some growth, but the figures seem a bit high to me.

"We have had a very good few months and I think pricing is far more in line with market conditions now, which is really encouraging for us.

"Lenders are still a bit careful, which is fair enough, but it's doing all right at the moment."

The Rightmove house price index claims the average house in Llanelli cost £135,105 in December, compared with £125,175 a year ago and up 0.6 per cent up on November. Across Wales, the annual rise is said to be just 0.2 per cent, with a month on month fall of 1.3 per cent.

Nicola Rattenbury, sales manager for Sharon David Estate Agents, believes asking prices have remained stable over the past year, but argues that buyers are willing to make higher offers as the market improves.

She said: "I wouldn't say prices have gone up, it has been very stable.

"As far as the prices go they are the same, but offers have been better.

"We probably are selling for more, but the house prices themselves are the same.

"Because prices were dropping the year before people weren't willing to pay the asking price, and the offers they were putting in were quite low.

"We have sold quite a lot of houses in the last year at the asking price, but last year we wouldn't sell for 80 per cent.

"I suppose the asking prices haven't changed, but selling prices have."

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"I suppose the asking prices haven't changed, but selling prices have."

Except isn't the Rightmove index realated only to asking prices rendering the rest of the article pointless as a result...

However it is nice to see an estate agent that understands they need to start managing client expectations down to be able to earn a commission by selling a house.

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  • 312 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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