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Swansea-State Of The Market


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Hi TMT, I've just had a good look and I cant see a way to access messenger in the settings?

Ah, I forgot - you have to have either 50 or 100 posts to use the email system.

There used to be a thread on here somewhere telling people to just comment on a 100 posts by saying "+1" to comments they agreed with so they could then get to use the email system.

Ah, think you can go to the upgrade forum and request an upgrade straight away.

Go here and ask:

http://www.housepricecrash.co.uk/forum/index.php?showforum=41

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Ah, I forgot - you have to have either 50 or 100 posts to use the email system.

There used to be a thread on here somewhere telling people to just comment on a 100 posts by saying "+1" to comments they agreed with so they could then get to use the email system.

Ah, think you can go to the upgrade forum and request an upgrade straight away.

Go here and ask:

http://www.housepricecrash.co.uk/forum/index.php?showforum=41

Thanks, I've requested an upgrade.

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"state of the market"? - from what i can make out, very, very little has sold over the peak summer months.Even less over the 500k mark.I really wonder how some agents not involved with lettings are keeping afloat and i cannot see anything getting any better for some time.The bubble has well and truely burst! The only ones that have sold are sensibly priced ones which you can spot will sell straight away.

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"state of the market"? - from what i can make out, very, very little has sold over the peak summer months.Even less over the 500k mark.I really wonder how some agents not involved with lettings are keeping afloat and i cannot see anything getting any better for some time.The bubble has well and truely burst! The only ones that have sold are sensibly priced ones which you can spot will sell straight away.

Not sure if I posted this here or elsewhere on HPC.

In the pub over the weekend, spoke with an EA of one of the chains who told me that he was pretty sure one EA firm in Swansea was in a financial mess, said that another one is rumoured to be getting rid of a load of staff in the coming weeks because their sales have been so poor.

No idea whether this was just EA gossip or whether there is any truth in it.

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Spoke with one chain EA in Mumbles this morning who started off telling me how dire August has been for selling, but then went on to say that things are very buoyant when I tried to arrange an appointment in Langland.

I was told that they are so busy that no appointment could be done for at least a week, so I didn't bother - I suspect that it is simply because a lot of their staff is on leave this week.

Decided to go for a cup of tea instead of arranging a viewing.

I then bumped into another EA who is normally very bullish... he told me that "the banks have stopped lending, that there are no first time buyers now and the only people who can buy are cash buyers... but sellers just don't get it." He advised me to put in offers 20% below asking now as the banks won't lend and even if they did then a 90% offer is only going to be down-valued by the banks.

Make of that what you will.

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Which EA's are in trouble TMT? :D

I can imagine though.

It's got to make you mad listening to some of the EA's especially when they tell you how poor the market is for sales, but then can't get you a viewing for a week. Why did they not take you there straight away?

I would estimate that 75% of the viewings we carry out are arranged the same day. The only time we don't do that is if the buyer is out of town or we can't get access that day. The office diary is usually 90% vacant at the start of each day, but we tend to end up doing viewings most of the day.

Having said that we keep a small portfolio of sales at the moment.

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It makes me very angry now. Complete bull sh*t fantasy denial.

In this market I would be moving heaven and earth to get buyers into houses. In the US a realtor would rather close their office and take you to view straight away than risk losing you so that they can stay in an office twiddling their thumbs.

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TMT

Having not been back to Swansea for quite sometime until recently and spending the vast majority of the long weekend in Western Swansea I do now as an outsider see why people are prepared to pay and sellers confident enough to ask for these kind of prices.

Simply because there are very few "nice" parts of Swansea (Sea on one side and countryside the other) and people with money in Swansea need somewhere to live, the Gower et al is a bit far out but Mumbles, Derwen Fawr, Mayals, Langland, Caswell are all within reach of the city, pubs, restaurants etc.

Driving through the streets of Newton / Norton they seem very tidy and peaceful with some nice views of the mumbles and Swansea bay and it makes me understand why buyers pay the premium and happy to sacrifice other things in life in order to live there, (1 less holiday, 40 year in 25 year mortgage, older car, delay having children).

I am not saying that the prices being asked are acceptable to you but are justifiable when you see the asking prices of similar properties in other parts of Swansea and basically you are adding a premium of 50 - 60% to live in this particular catchment area.

I know many people living in this area that work as far as London daily or throughout the week, catching the early train from Swansea Central just to have the Gower and Swansea bay on their doorstep at weekends and for their children to go to school, many of whom went to Swansea uni and never left after graduating.

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TMT

Having not been back to Swansea for quite sometime until recently and spending the vast majority of the long weekend in Western Swansea I do now as an outsider see why people are prepared to pay and sellers confident enough to ask for these kind of prices.

Simply because there are very few "nice" parts of Swansea (Sea on one side and countryside the other) and people with money in Swansea need somewhere to live, the Gower et al is a bit far out but Mumbles, Derwen Fawr, Mayals, Langland, Caswell are all within reach of the city, pubs, restaurants etc.

Driving through the streets of Newton / Norton they seem very tidy and peaceful with some nice views of the mumbles and Swansea bay and it makes me understand why buyers pay the premium and happy to sacrifice other things in life in order to live there, (1 less holiday, 40 year in 25 year mortgage, older car, delay having children).

I am not saying that the prices being asked are acceptable to you but are justifiable when you see the asking prices of similar properties in other parts of Swansea and basically you are adding a premium of 50 - 60% to live in this particular catchment area.

I know many people living in this area that work as far as London daily or throughout the week, catching the early train from Swansea Central just to have the Gower and Swansea bay on their doorstep at weekends and for their children to go to school, many of whom went to Swansea uni and never left after graduating.

A premium of 50 to 60%? You are having a laugh!

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people don't pay a premium just for a sea view, they pay it for all the location, lifestyle, facilities and infastructure that swansea offers.

things like access to nearby dentists, doctors, hospitals, leisure facilities, parks, beaches, marinas, swimming pools, gyms, nightlife, pubs, restaurants, post offices, banks, local shops, bigger shops, M4 motorway connection, mainline train station, regular bus service, schools, colleges, places for people to work like universities, hospitals, steelworks, industries and business parks, quality of life in terms of low crime, pace of life, scenery and community life.

you could buy a seaside property anywhere but it won't have what swansea offers.

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people don't pay a premium just for a sea view, they pay it for all the location, lifestyle, facilities and infastructure that swansea offers.

things like access to nearby dentists, doctors, hospitals, leisure facilities, parks, beaches, marinas, swimming pools, gyms, nightlife, pubs, restaurants, post offices, banks, local shops, bigger shops, M4 motorway connection, mainline train station, regular bus service, schools, colleges, places for people to work like universities, hospitals, steelworks, industries and business parks, quality of life in terms of low crime, pace of life, scenery and community life.

you could buy a seaside property anywhere but it won't have what swansea offers.

Fair enough.

But outside of the public sector where are the jobs in swansea?

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Fair enough.

But outside of the public sector where are the jobs in swansea?

I wonder if the housing stock in Swansea is in proportion to the job market?

There are many, many more cheaper houses than there are high-end ones. That could be considered consistent with the current job situation.

Are the mid-range houses in proportion with mid-range jobs as well?

Oh, where are the jobs? Buggered if I know, don't work locally. I wouldn't mind doing so and at some point might downshift and work in Swansea.

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I wonder if the housing stock in Swansea is in proportion to the job market?

There are many, many more cheaper houses than there are high-end ones. That could be considered consistent with the current job situation.

Are the mid-range houses in proportion with mid-range jobs as well?

Oh, where are the jobs? Buggered if I know, don't work locally. I wouldn't mind doing so and at some point might downshift and work in Swansea.

There are a few of us who have been talking about how difficult it is to downshift and work in Swansea. If you have been 'outside' there is a kind of resentment of people coming back. It is very odd, but S'sea is a very odd city.

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I wonder if the housing stock in Swansea is in proportion to the job market?

There are many, many more cheaper houses than there are high-end ones. That could be considered consistent with the current job situation.

Are the mid-range houses in proportion with mid-range jobs as well?

Oh, where are the jobs? Buggered if I know, don't work locally. I wouldn't mind doing so and at some point might downshift and work in Swansea.

Exactly what I thought I would do, downshift and get some p/t job in swansea. The trouble is that there is a high demand for unskilled minimum wage jobs, even part time jobs are like gold dust. I suspect that the tax credit system has a lot to do with the demand for p/t unskilled jobs :angry:

Employers dont want to employ ex lawyers/accountants/engineers to work on their checkouts/drive the home delivery vans etc. Make sure you are independantly wealthy if you want to downsize in swansea.

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Exactly what I thought I would do, downshift and get some p/t job in swansea. The trouble is that there is a high demand for unskilled minimum wage jobs, even part time jobs are like gold dust. I suspect that the tax credit system has a lot to do with the demand for p/t unskilled jobs :angry:

Employers dont want to employ ex lawyers/accountants/engineers to work on their checkouts/drive the home delivery vans etc. Make sure you are independantly wealthy if you want to downsize in swansea.

I was thinking of setting up a white van PC repair business as a downsizing way of life but... have a look around numerous small shops, chippies, hairdressers and there are numerous people sticking up posters offering to do such work for 'no fix no fee', no call out charge and the rates they charge can be as little as 5 or 10 quid per hour.

In other words, if you are running a real business you could not work this cheaply... but in Swansea there are lots of people who work like this, be it as above or in some other hobble, whilst being on benefits of some sort.

Or hobbyists in full-time jobs looking for a bit of 'pocket money'.

I use IT as an example, but it occurs in so many lines of work in Swansea.

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There are a few of us who have been talking about how difficult it is to downshift and work in Swansea. If you have been 'outside' there is a kind of resentment of people coming back. It is very odd, but S'sea is a very odd city.

Already live in Swansea just don't work at home. Happy to consider a downsize in home and take a lesser paid job but this is probably not the right time.

No problem with changing nothing at the moment but there's certainly a shortage of 'mid range' jobs currently so will have to wait.

Luck I am patient.

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people don't pay a premium just for a sea view, they pay it for all the location, lifestyle, facilities and infastructure that swansea offers.

things like access to nearby dentists, doctors, hospitals, leisure facilities, parks, beaches, marinas, swimming pools, gyms, nightlife, pubs, restaurants, post offices, banks, local shops, bigger shops, M4 motorway connection, mainline train station, regular bus service, schools, colleges, places for people to work like universities, hospitals, steelworks, industries and business parks, quality of life in terms of low crime, pace of life, scenery and community life.

you could buy a seaside property anywhere but it won't have what swansea offers.

SA3 (mumbles, langland, mayals etc) has always been more expensive than other parts of swansea, not suprising as it is much nicer. It has seen the biggest 'bubble' in prices in recent years but times have changed and most wealthy people arent prepared to pay those prices again. You only need to count the number of houses on the market for asking prices over 500K then look at the number sold in the past 12 months. i count over 100 properties on for asking prices over 500k but only 9 actually sold in past 12 months. At that rate its gonna take a bloody long time for some people to sell!

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SA3 (mumbles, langland, mayals etc) has always been more expensive than other parts of swansea, not suprising as it is much nicer. It has seen the biggest 'bubble' in prices in recent years but times have changed and most wealthy people arent prepared to pay those prices again. You only need to count the number of houses on the market for asking prices over 500K then look at the number sold in the past 12 months. i count over 100 properties on for asking prices over 500k but only 9 actually sold in past 12 months. At that rate its gonna take a bloody long time for some people to sell!

A few months ago someone on here worked out there was something like 25 years of property for sale in Swansea over 300K if you compared number of houses on the market with the average number of houses sold per year at those prices going back inflation adjusted to, I think, 1990.

In other words, the vast majority of people flogging those houses aren't going to sell them for many years. It did make me stop and think about the idea of having something, even moderate, to downsize to in 20 years time.

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Some figures just released (possibly from Globrix) in the property post shows that Mumbles is the second most expensive seaside area in the UK when it comes to house prices.

Tenby is high on the list too. Somewhere in Suffolk I think was the most expensive.

Yes, I have had one or two Mumbles EAs boasting about that but, interestingly, most have said that it just is doing more harm than good by giving sellers unrealistic expectations.

At the end of the day, perhaps the report is just showing how many stupid people exist in Swansea?

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Some figures just released (possibly from Globrix) in the property post shows that Mumbles is the second most expensive seaside area in the UK when it comes to house prices.

Tenby is high on the list too. Somewhere in Suffolk I think was the most expensive.

The reason they are so high is because Wales is not a large country (especially south west wales), if you have a bit of money and want to live in this part of Wales and have a number must haves on your shopping list i.e. by the Sea with green fields only a stone throw away, lowish crime, good infrastructure, fairly well paid jobs (for wales) and many businesses then your choices are quite limited, your probably looking at 5% if not less.

Like I say I was down there recently and prices aside must say that from the Woodman pub onwards the whole areas is v. attractive for those looking for property, v. impressed with the sea front and the cycle track, well kept and pleasing on the eye. Mumbles also a lot cleaner than when I was last there.

I think if your a Welsh lad you is looking to return to Wales or move to one of the better parts you would be hard pushed to beat that part of Swansea.

Tenby again v.nice but some where for me personally when I get past that 60 figure and look to move to the slow lane, you either need bags of money, work from home or in the public sector down there as there is not much else, but the way of life is superb and surprisingly very few nice property available which I suppose does keep prices higher and v tight planning laws from what I have seen and heard.

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  • 433 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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