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The Masked Tulip

'sluggish' Housing Market In Wales As Demand Falls

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http://www.bbc.co.uk/news/uk-wales-12385581

The survey shows Wales as having one of the lowest figures for actual house sales in the UK.

It said would-be purchasers remain cautious about the immediate economic future.

Rics Wales housing spokesperson Tony Filice, said: "Uncertainty over the prospects for employment, alongside the shortage of mortgage finance, continues to weigh heavily on the market in Wales."

Mr Filice, who is also director of Kelvin Francis chartered surveyors, added: "However, there has been an upturn in valuations and instructions, compared with the past three months, and in line with what would normally be expected in January.

"Vendors are still being flexible on price which means sales are still being achieved, at reasonable price levels."

John Nicholas of J J Morris estate agents in Haverfordwest, Pembrokeshire, said: "The ongoing speculation of public sector spending cuts is having an adverse effect on the property market in this area as they are by far the largest employers.

"The general lack of confidence means that many vendors need to be proactive when receiving advice on asking prices.

"There is a demand for realistically priced properties and deals are being done but over ambitious pricing and expectations is still apparent."

Kelvin Francis of Kelvin Francis & Co in Cardiff, said there had been an upturn in valuations and instructions, compared with the past three months, and in line with what would normally be expected in January.

He added: "The attitude is generally upbeat and vendors are still being flexible on price. Therefore sales are being achieved, at reasonable price levels."

But only on Monday, the largest estate agency in south Wales, Peter Alan, which is owned by Principality, said it was undergoing a "testing time" in a depressed market.

It saw an overall reduction in sales volumes, but said a move into lettings and asset management had "strengthened the franchise and delivered record levels of income".

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No, not seen that - is RICS out today?

It is indeed. I noticed the Welsh data was particularly interesting.

Seems that you registering with EAs has started off a chain reaction of events...

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It is indeed. I noticed the Welsh data was particularly interesting.

Seems that you registering with EAs has started off a chain reaction of events...

Yes, buyer registrations up. And Welsh EAs appear the most confident. I am beyond caring now. Utter bull IMPO.

But it backs up what I am hearing about people with cash buying.

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Yes, buyer registrations up. And Welsh EAs appear the most confident. I am beyond caring now. Utter bull IMPO.

But it backs up what I am hearing about people with cash buying.

There are no doubt a heck of a lot of people out there, under the radar, who have cash stashed away for a rainy day. I'm happy to count myself as one B)

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We have had a good 2 years of these RICS reports where each month we read the bullish forecasts by estate agents... and lo and behold the rising demand from buyers never materialises... but then the next month we get the smae old bull again about confidence rising, boom on the way, blah, blah.

The RICS report seems a waste of time IMPO. Just veste interest stuff from what I an make out.

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We have had a good 2 years of these RICS reports where each month we read the bullish forecasts by estate agents... and lo and behold the rising demand from buyers never materialises... but then the next month we get the smae old bull again about confidence rising, boom on the way, blah, blah.

The RICS report seems a waste of time IMPO. Just veste interest stuff from what I an make out.

There's a lot of trying to keep up with the Joneses in there I'm sure, especially because people's names and contact details are so clearly displayed. Are they communicating to us or trying to impress one another that their start to the year has been better than everyone else's?

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There's a lot of trying to keep up with the Joneses in there I'm sure, especially because people's names and contact details are so clearly displayed. Are they communicating to us or trying to impress one another that their start to the year has been better than everyone else's?

As we all know, EA's costant spin, bull, whatever, has probsbly done more damage to their businesses and chances of selling than just about anything else happening. I know they all blame the banks, lacks of mortgages, job cuts, etc, etc, but, in truth, their own hype, spin, bull and ludicrous valuations is, IMPO, their biggest problem.

Someone should do a 'Downfall' video about it.

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What did the slug say to the snail?

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Big issue?

large_slug.JPG

snail.jpg

Edited by Reck B

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I think that the info from thev Principality's building society's estate agent chain tells the truth - it is dire out there.

The EA chains can get away with saying what they want, and getting it into the local rags, but a building society has to say it how it sees it.

What is more interesting is that the Principality is the biggest mortgage lender in Wales so if they are reporting it is a depressing market then what's that all. Kind of an admission that asking prices are too much IMPO.

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There are no doubt a heck of a lot of people out there, under the radar, who have cash stashed away for a rainy day. I'm happy to count myself as one B)

Make that two :-)

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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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