Jump to content
House Price Crash Forum
thirdwave

Swansea-State Of The Market

Recommended Posts

Noticed loads of stuff between 300K and 1 million coming back on the market in the past 7 to 10 days or so. Most of them went SSTC in June to August so perhaps the EAs have not had as buoyant a time as they thought.

Share this post


Link to post
Share on other sites

Let's put the asking price up.

http://www.rightmove.co.uk/property-for-sale/property-27690891.html?premiumA=true

tbd

18 October 2013 22:56:51

Agents Address found: Estate Offices - Radley Green Farm, Radley Green Road, Radley Green, Essex, CM4 0LU

Detailed Description found: Tenure: Freehold OverviewHouse Network are delighted to offer this well presented 4 Bedroom Detached Family Home situated in a popular residential area of Penclawdd, Swansea with stunning open views o...

Price changed: Offers in Region of £269,750 £274,750

18 October 2013 22:56:32

Status changed: Premium Listing, Sold STC, null, null

30 September 2013 18:59:40

Status changed: Premium Listing, Sold STC STC, null

13 September 2013 11:09:39

Status changed: Premium Listing, Under offer Sold STC

30 August 2013 13:06:20

Status changed: Premium Listing, null Under offer

15 August 2013 18:28:49

Agent found: House Network

Agents Location found: National.Telephone: 01245 249110 Local call rate

Agents Telephone found: 01245249110

08 August 2013 08:21:21

Status changed: Premium Listing, null

31 July 2013 13:53:07

Brief Description changed: House Network are delighted to offer this well presented 4 Bedroom Detached Family Home situated in a popular residential area of Penclawdd, Swansea with stunning open views of the Loughor Estuary to the front. The property benefits from high end fixtures and fittings throughout including Solid W... O...

31 July 2013 08:24:26

Brief Description found: House Network are delighted to offer this well presented 4 Bedroom Detached Family Home situated in a popular residential area of Penclawdd, Swansea with stunning open views of the Loughor Estuary to ...

Price found: Offers in Region of £269,750

Status found: null

Subtitle found: 4 bedroom detached house

Title found: West End, Penclawdd, Swansea, Abertawe, SA4 3YU

Share this post


Link to post
Share on other sites

Rather you than me but if you have the cash and think it is reasonable go for it. Personally, I think 500K plus is nuts for that IMPO. As Swansea EA says - 300K seems a good offer. In fact, I would say generous.

Share this post


Link to post
Share on other sites

I always find it odd when a house turns up empty for sale on rightmove. I never know whether they are a repo, a former rental where the renters have moved out or a home where the home owners have already moved out to another property.

So when I look at houses, like the one below, I am never sure what to make of them. Is it me or is it odd to see an empty house listed - what do you think SwanseaEA? Is this normal? Having said that, I have viewed quite a few empty houses myself.

http://www.rightmove.co.uk/property-for-sale/property-28420542.html

I bumped into a friend that I had not seen in a couple of years this week and he and his wife had just had they house repoed. I felt so bad for them.

Share this post


Link to post
Share on other sites

I always find it odd when a house turns up empty for sale on rightmove. I never know whether they are a repo, a former rental where the renters have moved out or a home where the home owners have already moved out to another property.

So when I look at houses, like the one below, I am never sure what to make of them. Is it me or is it odd to see an empty house listed - what do you think SwanseaEA? Is this normal? Having said that, I have viewed quite a few empty houses myself.

http://www.rightmove.co.uk/property-for-sale/property-28420542.html

I bumped into a friend that I had not seen in a couple of years this week and he and his wife had just had they house repoed. I felt so bad for them.

There's a reason why show homes are furnished. I agree, and empty house that has clearly been lived in (as opposed to obviously newly done) is a little disquietening (did I just make that word up?). Having said that, overwhelming clutter is much worse.

Share this post


Link to post
Share on other sites

Not in Wales; hardly ever been.

Looking at the photos I would guess its either a probate or people have left, unable to sell.

There is some furniture left - the chair - and the electrics are still on.

Probably the second - there's a big play house outside.

My home area - Whitby + Scarborough - is seeing a massive pile up of housing on rightmove.

The buoyancy of prime London does not touch north North Yorkshire - or the rest of the North but I can only really monitor a small area.

A very noticiable number of property are empty.

Youll always get a few empties in any market. That's to be expected.

I'm getting good at differentiating the different types of empty:

- Cant sell a redevelopment empty

- Cant sell a new build empty.

- Cant sell and moved empty.

- Done a runner empty

- Bank repo empty.

- Gone into a care home empty.

- OAP lay dead on floor and eaten by cats empty.

- Holiday home cannot let empty

- Divorce empty.

Share this post


Link to post
Share on other sites

Apparently not a repo.

Heard this morning about a couple who bought 4 years ago on Gower for 485 and are now divorcing. Best offer they have got is 280 but are trying to get buyer up to 300.

Edit: typo

Edited by The Masked Tulip

Share this post


Link to post
Share on other sites

things are a bit slow in the world of boundless pessimism, it appears

Not at all.

I was chatting with a manager of one Swansea EA branch last week and she was telling me how she is struggling to pay her mortgage. Interestingly, the mortgage she has is a good 50K to 100K less than houses she is selling now.

She went on to tell me that she has an interest only mortgage and has no means of paying off the capital. She then surprised me by telling me that she hears similar stories from people desperate to sell. Told me that I would be shocked just how many houses in Swansea are on interest only mortgages.

Spoke a few days ago with a manager in another EA branch and he told me that surveyors were afraid of being sued and very reluctant to approve the valuations/asking prices. He went on to say that the banks are already tightening who they lend to and people were finding it harder to get mortgages despite H2B.

Oh, he also said that lots of sales were still falling through with some SSTCs taking months and months.

Make of that what you will.

Interest rates are only going one way in 2014. Unemployment is on the rise and, as the latest Land Registry figures show - the actual SOLD prices in Swansea and not crazy asking prices - sold prices were down 2% last month and down 5% annually so far.

Share this post


Link to post
Share on other sites

The market has ground to a halt with only the odd 250k+ sale completing. I notice the probate property on Westport Avenue has sold after being on the market for around 8 months. It was on for 525k to begin with but eventually went for 470k. I also know of someone who has received several full asking price offers for their 3 bed in Bishopston within a month of it going on sale.The rental market appears more bouyant than last year with Eastern European arrivals and closure of the Sketty student village providing slumlords a new lease of life amid dwindling student numbers.

In summary, chances of a significant crash in price of family homes in the absence of favourable macroeconomic developments (rising unemployment, hike in interest rates, controls on mortgage lending etc) appear rather bleak at present IMO.

Share this post


Link to post
Share on other sites

Hi there,

we are new to the forum (only discovered it yesterday).

To begin with: yes,there are some Kiwis out and about...us, for example.

Then:

Does anybody know anything about this development?

http://www.zoopla.co.uk/for-sale/details/30985683?search_identifier=9016219b8c16056705c4fb6dde12340a

It looked quite promising, then it ground to a halt and now the rot (i.e. thugs smashing the windows etc.) has set in.

It went up for auction some time in November last year but didn't sell. The price went down(from 560K to 400K) and up again(to 460K), now it's up for auction again(400K), on February 17th.

We watched the 4 houses, that are actually there, being built (abysmal quality) and -as you may have figured out by now- living near that site we are worried this (non) development may have a negative effect on the house prices in the area (which aren't really to write home about in the first place).

Hope, somebody can tell me a bit more about this building site.

Cheers

Jule

Share this post


Link to post
Share on other sites

Hi there,

we are new to the forum (only discovered it yesterday).

To begin with: yes,there are some Kiwis out and about...us, for example.

Then:

Does anybody know anything about this development?

http://www.zoopla.co.uk/for-sale/details/30985683?search_identifier=9016219b8c16056705c4fb6dde12340a

...snipped.

Hope, somebody can tell me a bit more about this building site.

Cheers

Jule

It is just a bit of land that has been sold off and some houses have been built on it? I am not sure what the above link is offering - some of the land or the land and houses? If so, why didn't they finish building the houses?

I did hear, several months back, one of my EA contacts talking about a new build development going t*ts up on Townhill road but I have no idea where that development is or what happened in the end.

I am hearing more and more stories of people desperate to sell - especially divorcing couples. I saw, first hand, a cracker a few weeks ago where the couple were paying just under £4,000 per month mortgage on a property and they were arguging about trying to get 10K more from the only person who had made an offer. They wanted 460K and had managed to bump the person up to 450K. They were in HUGE debt and the mortgage payments were crippling them. I suspect the sale will fall through because... I am seeing loads of sales falling through.

I had one Mumbles EA boast to me about how many sales they did in 2013 but, in recent weeks, I have seen loads of their 'sales' come back on the market with the sales having fallen through.

Share this post


Link to post
Share on other sites

It is just a bit of land that has been sold off and some houses have been built on it? I am not sure what the above link is offering - some of the land or the land and houses? If so, why didn't they finish building the houses?

I did hear, several months back, one of my EA contacts talking about a new build development going t*ts up on Townhill road but I have no idea where that development is or what happened in the end.

Hi there,

actually, it's not only a bit of land with some houses but quite a large chunk of the green area between Heol-y Gors and the Enterprise Park (i.e. Travis Perkins/Aldi/McDonald's). Originally they tried to get planning permission for 42 (!!!) houses but ended up with just 21.

The land used to be occupied by the horse people and one of the really old "genuine" residents told me the land used to be part of a mine with some tunnels still partly accessible (though I never found any evidence).

Up for auction is the land, planning permission plus the 4 not quite finished houses, which I assume must be in a pretty bad state by now. In October 2012 they got soaked since the building work stopped before the roofs had been put up. Nothing happened during the long winter, then a bit of activity and that was it. The windows then were taken out again (probably reclaimed) and put back in only a couple of months ago.Now smashed.

The houses were originally on the market for 120K, then reduced to 99.5K . The bigger houses were said to cost around 149.5K.

All in all far too much money for a pile of wood and some bricks.

The houses in front of the development site on Heol-Y-Gors have lost all their atmosphere. No green bit left behind the back.

One house there has been on the market for ever and a day. And has been reduced from ca. 75 to 59K.

I wouldn't want to live there,either.

Jule

Share this post


Link to post
Share on other sites

Hi there,

actually, it's not only a bit of land with some houses but quite a large chunk of the green area between Heol-y Gors and the Enterprise Park (i.e. Travis Perkins/Aldi/McDonald's). Originally they tried to get planning permission for 42 (!!!) houses but ended up with just 21.

The land used to be occupied by the horse people and one of the really old "genuine" residents told me the land used to be part of a mine with some tunnels still partly accessible (though I never found any evidence).

Up for auction is the land, planning permission plus the 4 not quite finished houses, which I assume must be in a pretty bad state by now. In October 2012 they got soaked since the building work stopped before the roofs had been put up. Nothing happened during the long winter, then a bit of activity and that was it. The windows then were taken out again (probably reclaimed) and put back in only a couple of months ago.Now smashed.

The houses were originally on the market for 120K, then reduced to 99.5K . The bigger houses were said to cost around 149.5K.

All in all far too much money for a pile of wood and some bricks.

The houses in front of the development site on Heol-Y-Gors have lost all their atmosphere. No green bit left behind the back.

One house there has been on the market for ever and a day. And has been reduced from ca. 75 to 59K.

I wouldn't want to live there,either.

Jule

There are a pile of mine-shafts around there.

Go to this link, type Swansea into the map, adjust the key to show everything and zoom in on the area.

http://coal.decc.gov.uk/en/coal/cms/publications/data/map/map.aspx

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 355 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.