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cardiffone

Cardiff Prices Dropping

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Noticed a few 20K and 30K on circa 300K to 350K properties in Swansea in the past few days.

The problem is, they are only now beginning to come down near where their asking prices should have begun from - i.e. 250K and then accept an offer about 10% below 250K. So still a way to go.

Interestingly, saw a modern house in Mumbles drop its asking price from 300K to 270K today but it is one of several in a small estate all on the market for 300K to about 340K IIRC. The 30K drop one is going to annoy the neighbours but I guess they now want to sell?

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First decent reduction I've seen this side of the Ely in a while....

http://www.rightmove.co.uk/property-for-sale/property-31988006.html

"Price changed: from '£229,950' to '£191,500'"

But what is going on with those internal doors?

Looks a bit like an alpine lodge on the outside and a bit like an Indian restaurant on the inside? Perhaps a chap from Bangladesh married someone from Austria? :unsure:

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Looks a bit like an alpine lodge on the outside and a bit like an Indian restaurant on the inside? Perhaps a chap from Bangladesh married someone from Austria? :unsure:

Bring on the wall :)

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Contemplating moving (back) to the Cardiff area from the Southeast but probably not for a year or so, retirement beckoning, having been away most of my adult life. Would like a water view as we have one currently and don't want a garden, so obviously we are considering the Bay.#

I have no idea what service charges would be on a place like this, can anyone help?

http://www.rightmove.co.uk/property-for-sale/property-27640123.html

This is putting aside any "you'd be mad to move there" arguments, just wondering what per-flat costs of maintaining communal car parks etc might be in that sort of development down there.

thanks

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Contemplating moving (back) to the Cardiff area from the Southeast but probably not for a year or so, retirement beckoning, having been away most of my adult life. Would like a water view as we have one currently and don't want a garden, so obviously we are considering the Bay.#

I have no idea what service charges would be on a place like this, can anyone help?

http://www.rightmove.co.uk/property-for-sale/property-27640123.html

This is putting aside any "you'd be mad to move there" arguments, just wondering what per-flat costs of maintaining communal car parks etc might be in that sort of development down there.

thanks

I have heard costs of 1,500 to 4 or 5K in the bay.

Have to say it - IMPO that is one ugly place to live.

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Have to say it - IMPO that is one ugly place to live.

Very vague plan at the mo is to rent furnished for a year to test it out while daughter stays in family home after graduating. Outside looks honestly don't bother me, it's the views we'd want but while making sure the wind doesn't rip right through. Current rents for two beds are around 1K a month and IMHO it would be worth investing 12K or so in rent rather than spunking 200K straight off and finding drawbacks not foreseen.

Edited by Surf's Up

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Very vague plan at the mo is to rent furnished for a year to test it out while daughter stays in family home after graduating. Outside looks honestly don't bother me, it's the views we'd want but while making sure the wind doesn't rip right through. Current rents for two beds are around 1K a month and IMHO it would be worth investing 12K or so in rent rather than spunking 200K straight off and finding drawbacks not foreseen.

Well, you have your choice. There is a huge glut in the bay. If you drive through there at night you notice how many empty flats there are as most of the blocks have few or no lights on.

Alot of those blocks are islands meaning you have no where to walk to so you have to get in the car to do anything. If I had to live there then the Penarth Marina would be my choice.

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OK no they're not apart from a few that have been on for ages.

A load of houses in Penlyan just listed, for far higher that similar ones sold ( and unsold) last year.

Edited by cardiffone

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The latest Land Registry figures do suggest that Cardiff has been falling for a few months now:

Month % change

July 2010 - 0.5

August 2010 - 0.6

September 2010 + 0.8

October 2010 - 1.5

November 2010 - 0.3

December 2010 - 1.0

January 2011 - 1.2

So since June 2010 that's six monthly drops out of seven, dropping around 1% a month over the last three or four months. The latest monthly figures may well be revised quite a bit in a month's time, but there seems to be a good downward trend at present.

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That's a very quick glance at Rightmove.

I've been renting in new build blocks in Cardiff city centre for 7 years or so (all the time waiting for the bloomin crash to materialise.)

Moved into the current place mid-2007, so here are a few things that might help...

This block was priced high in my opinion, and seems to have been aimed at the sucker amateur BTL market, many of whom got badly burned. The concierge told me there have been 90 repos (out of around 160 flats.) And 30 or so flats never got sold at all.

Management company went bust within 2 years of me moving in.

I have a friend here who bought one of the repos that had originally sold for over £200k, he paid £130k.

The flat I'm in was listed as sold to my LL for over £200k in 2007, I've seen similar on sale for £120-130k and not shifting in any hurry.

We're finally seeing 1 bed flats going on at below £100k, and I've seen one drop below £90k in the last week or so.

My own LL has defaulted on the service charge and may have done a runner. Can't say I blame him, I realised a long time ago just how much he'd been ripped off (although I also believe he was pretty stupid too.)

As for the bay, I have to agree with TMT. It is an ugly place to live, no infrastructure, and if you want a newspaper you're going to have to get in your car. Some of the developments are pretty much boxed in by dual-carriageway.

You could buy something far nicer with £200k than these new build flats.

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As for the bay, I have to agree with TMT. It is an ugly place to live, no infrastructure, and if you want a newspaper you're going to have to get in your car. Some of the developments are pretty much boxed in by dual-carriageway.

maybe that's why developments in swansea marina/sa1 have been so successfull because you have everything on your doorstep and within walking distance like shops, supremarkets, cafes, restaurants, beach, prom and just across road from the city centre

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maybe that's why developments in swansea marina/sa1 have been so successfull because you have everything on your doorstep and within walking distance like shops, supremarkets, cafes, restaurants, beach, prom and just across road from the city centre

yes, and I do think the Cardiff city centre developments have been more successful than the bay for just those reasons. But there's probably an over supply now, especially with the flats in St David's 2 coming on line.

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I've been renting in new build blocks in Cardiff city centre for 7 years or so (all the time waiting for the bloomin crash to materialise.)

Moved into the current place mid-2007, so here are a few things that might help...

This block was priced high in my opinion, and seems to have been aimed at the sucker amateur BTL market, many of whom got badly burned. The concierge told me there have been 90 repos (out of around 160 flats.) And 30 or so flats never got sold at all.

Management company went bust within 2 years of me moving in.

I have a friend here who bought one of the repos that had originally sold for over £200k, he paid £130k.

The flat I'm in was listed as sold to my LL for over £200k in 2007, I've seen similar on sale for £120-130k and not shifting in any hurry.

We're finally seeing 1 bed flats going on at below £100k, and I've seen one drop below £90k in the last week or so.

My own LL has defaulted on the service charge and may have done a runner. Can't say I blame him, I realised a long time ago just how much he'd been ripped off (although I also believe he was pretty stupid too.)

As for the bay, I have to agree with TMT. It is an ugly place to live, no infrastructure, and if you want a newspaper you're going to have to get in your car. Some of the developments are pretty much boxed in by dual-carriageway.

You could buy something far nicer with £200k than these new build flats.

Thats a very interesting anecdotal. Which block is is it that you rent in? You say you've been waiting for the crash. Are you not tempted at the flats selling under 90k? I'm coming round to the fact now that lovely houses that i really want to live in wont fall to within my price range if at all, yet £100k for a nice town centre flat maybe is a good buy?

Do you thin this is just kicking in, or are we near the bottom in terms of Cardiff prices.

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Thats a very interesting anecdotal. Which block is is it that you rent in? You say you've been waiting for the crash. Are you not tempted at the flats selling under 90k? I'm coming round to the fact now that lovely houses that i really want to live in wont fall to within my price range if at all, yet £100k for a nice town centre flat maybe is a good buy?

Do you thin this is just kicking in, or are we near the bottom in terms of Cardiff prices.

I'm in Admiral House at the moment. And no, I wouldn't buy here, given the history of the place, its outstanding problems and the fact that actually I don't really like the way the flats have been fitted out. I can't imagine any block being viable in the long term if most of the original buyers have been ripped off so badly (and there's still a large number of the repos and originally unsold flats that still haven't been sold - who will take the hit on service charges for instance.)

One other problem with the building is the lifts for the split level car park. They often break down, and whilst they will allow people to use empty ground floor spaces, that's not much help if your car is stuck on one of the upper floors. The fact that there are so many unused ground floor parking spaces makes me wonder even more about how many flats are empty.

City centre blocks I've been considering:

Landmark Place - lived here for a while, and like the way the flats have been done out. They were sold at more realistic prices (2003 or so.) The building hasn't been without its problems though, but I would consider buying here at £90k.

Altolusso - looked at flats here, the kitchens are hopeless though. Designed for people who can't cook, won't cook. No way would I buy here.

Golate House - quite like these, nice kitchens, big rooms. I would consider buying at £90k.

St Davids 2 - maybe if they get real about the asking prices (can't be too many have been sold yet) this building won't turn out like Admiral House.

I really do think the crash is just beginning for these flats.

And actually I think I'd quite like a nice little house on a quiet street, with a back yard where I could have some pots to grow some herbs.

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Intereting analysis of Cardiff flats. The place appears choc full of empty ones now. Swansea has its share but Cardiff appears to be the city of empty flats.

I would go for a house every time over a flat.

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Intereting analysis of Cardiff flats. The place appears choc full of empty ones now. Swansea has its share but Cardiff appears to be the city of empty flats.

I would go for a house every time over a flat.

Wouldn't we all. But houses havn't dropped in value, which means they're still vastly overpriced. Flats have reduced hugely. I'm wondering if a 90k flat is realisticly what working class young people should be aspiring to. Instead of 3 bed houses that in my circle of friends, are crippling mortgage slave depression traps.

I cant decide wether we are wasting time and energy waiting for houses to drop in value, Or wether its our aspirations that need to de-value.

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trust me, buy a house, life in it, enjoy it, do it up to the standard you want and move on. Sitting on this site for ever wondering will get you no where. Remember there are people on here that have been been sitting posting every night for the last 7 or 8 years. If you want to stay renting then fair enough no issues or arguments but if you want to buy then just make the right choice and go for it.

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Thats a very interesting anecdotal. Which block is is it that you rent in? You say you've been waiting for the crash. Are you not tempted at the flats selling under 90k? I'm coming round to the fact now that lovely houses that i really want to live in wont fall to within my price range if at all, yet £100k for a nice town centre flat maybe is a good buy?

Do you thin this is just kicking in, or are we near the bottom in terms of Cardiff prices.

90k for a flat?!?

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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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