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The Masked Tulip

Lmao - Swansea

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I've mentioned in the past a small 'executive' estate built not far away from my home, in the Killay part of Swansea West, over the past couple of years.

I've mentioned how many of them still remain empty, if not the majority, and how many of them are up for sale or to let. Many of them look as if no one has ever lived in them and one or two, last time I looked, still had plastic sheeting on the garage doors. Some of them are built just a foot or two away from the pavement with either little or no garden between the house and the pavement. IMPO they look as if they have crammed as many onto the land as is possible. Personally, for the money I have seen them advertised at I would expect a lot more.

These sell from about 230K to 450K but, tonight, I was told about a couple who had bought one last year for just under 500K. It turns out, so I am told, that a few months after moving in the bathroom, on the ground floor, began to have the tiles fall off the wall and some came up from the floor. Shortly afterwards the pipes in the kitchen, on the floor above the bathroom, gave way and the house got flooded complete with ceilings coming down.

I understand, so I am told, the owners are now concerned about how strong the house is actually built and whether it can support having the kitchen, as it was built, on the second floor. Also, I understand that the house is built in some bizarre 'open plan' style which, again so I am told, the owners were originally convinced was a good idea but now, after months of living in it, they are tyring to figure how to hang doors on the 'arches' that lead into each room from the main room on each floor.

It makes you wonder.

As these houses are built opposite a fairly steep hill, at the bottom of which I have often seen the road flooded in heavy rain, I am waiting for the first heavy rain of winter which, um, actually is probably today. I think I will take a drive up there later on and see what is what!

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I've mentioned in the past a small 'executive' estate built not far away from my home, in the Killay part of Swansea West, over the past couple of years.

I've mentioned how many of them still remain empty, if not the majority, and how many of them are up for sale or to let. Many of them look as if no one has ever lived in them and one or two, last time I looked, still had plastic sheeting on the garage doors. Some of them are built just a foot or two away from the pavement with either little or no garden between the house and the pavement. IMPO they look as if they have crammed as many onto the land as is possible. Personally, for the money I have seen them advertised at I would expect a lot more.

These sell from about 230K to 450K but, tonight, I was told about a couple who had bought one last year for just under 500K. It turns out, so I am told, that a few months after moving in the bathroom, on the ground floor, began to have the tiles fall off the wall and some came up from the floor. Shortly afterwards the pipes in the kitchen, on the floor above the bathroom, gave way and the house got flooded complete with ceilings coming down.

I understand, so I am told, the owners are now concerned about how strong the house is actually built and whether it can support having the kitchen, as it was built, on the second floor. Also, I understand that the house is built in some bizarre 'open plan' style which, again so I am told, the owners were originally convinced was a good idea but now, after months of living in it, they are tyring to figure how to hang doors on the 'arches' that lead into each room from the main room on each floor.

It makes you wonder.

As these houses are built opposite a fairly steep hill, at the bottom of which I have often seen the road flooded in heavy rain, I am waiting for the first heavy rain of winter which, um, actually is probably today. I think I will take a drive up there later on and see what is what!

fools and their money are soon parted.

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Some of you might remember the hilarious conversation I retold here a few months ago with a former Sunday football chum now married to the daughter of a prominent Swansea EA. (Why oh why was that post not pinned?). He now works as an EA in the 'family' business.

Anyhow, I've just got back from visiting my GP or, rather, sitting in my GP's waiting room only to suddenly realise that my appointment is in fact next week and not this. However, it gave me a chance to catch up on back copies of the Readers Digest and National Geographic, to chat with several senior citizens about the problems of the World and to wonder whether the gorgeous woman I am fancying sat across from me is in fact a woman or a rather cunning transexual.

Well, would you believe it but in walks the aforementioned EA. He still looks like Death warmed up (Death was his nickname when he played on the wing - "Over here Death, knock it in!" was a frequent cry to be heard on the footie fields of Swansea.). After the usual pleasantries I did not waste time in getting down to the nitty gritty.

ME: So, what is going on with the housing market then?

HIM: You wouldn't believe it. When did I see you last - 4 or 5 months ago wasn't it? It was bad then but it has got a lot worse since."

ME: (Innocently) Why's that then?

At which point the floogates open. BTW, he is well aware that I posted our last conversation on here.

HIM: Nothing is selling. Everybody wants ridiculous prices and no one is prepared to reduce. Worse, we have got so many houses to let and nobody who wants to rent them. People are asking London rental prices on houses in pretty shit areas of Swansea. Locals can't afford them. Would you pay eight or nine hundred a month to rent out a ****** (Names name of a well known national builder.) house when half of that would have got you a repayment mortgage on the same property three years ago?

ME: Can't you get the rents reduced?

HIM: It's not that easy. Some people are just being greedy and stupid. Most of them can't reduce the rents because it is what they need to cover their mortgages. We've got quite a few people on our books who have reduced their rents after having no renters for over a year BUT then the rent is not even covering their mortage. We get people ringing us up all the time asking us to become their renting agent but when we tell them how much they can rent out for they refuse to believe us and go looking for another agent. I don't give a sh*t about the Londoners because they've caused the problem in Swansea but when I have some local woman who works part-time at Tesco talking to me as if she is Paul Getty because she and her husband have bought a house to rent out I just want to tell them to "F**k off and leave me alone!". You would not believe how many birds in Swansea have speculated in property.

ME: Oh, I think I would. The nutty tarts have a lot to answer for. They watch Changing Rooms once or twice and suddenly they are all into painting everything beige. When one does it it soon gets round on the girly grapevine and they all have to do it. It's like getting married.

HIM: Tell me about it. You know how stupid prices are right now in Swansea. We've got houses on our books that have been for sale for almost two years. They are well over-priced but nobody is prepared to bring their prices down. Can you believe that I still get silly cows ringing me up every week expecting their asking price to go up because the house has been on sale longer! Them and the damn surgeons are the worst.

ME: Surgeons?

HIM: We've got lots of Doctors who are renting out houses. You'd think they would make enough money. Just being greedy if you ask me.

ME: Ah, of course estate agents haven't been greedy?

HIM: (Laughs) Still are. Part of the problem is still too many EAs want the business so are prepared to quote a stupid asking price just to get the business. We gave that up months ago because we simply have too many properties on the books. I think one or two firms are going to go bust soon.

ME: (Very interested) Who?

HIM: (Names one well known firm and one which, I admit, I had never heard of.) Until prices fall dramatically I can't see many houses moving.

ME: I agree. I still think that Swansea is going to see at least 40% fall from the current asking prices.

HIM: At least. I think they are going to fall more. That would be good for us. People round here will be able to afford houses again and people will start moving, buying again. That will mean more work for us and we'll get to make some money. Too many of the agents round here have just got greedy. Making huge commission off just one sale meant they didn't need to do any real work. The sooner house prices fall the sooner locals will be able to buy and we'll see many of the English speculators f**k off back to England. They started this and I would love to see them lose everything.

ME: Speaking of which - what is happening on the auction front? I am begining to see houses up for auction again.

HIM: Still not much in that area but we're expecting it to rise dramatically this year or next. The only people who are selling by auction are those who know they can still get away with some kind of profit. Most people can't afford to do that because they need their asking price to break even. We've not seen any repossessions at the moment because the banks are still lending. You would not believe how many people who have bought to rent but have had no renters so they have gone back to the banks and got a bigger mortgage. *****ers!

ME: So how do you see things planning out in the next year?

Alas, at which point he was called in to see his GP. No doubt he will read this himself sometime later on this weekend and have a laugh about being the Swansea EA equivalent of Deep Throat. I personally think he pretty well sums up the local property market at the moment - an incredible number of properties to rent and/or for sale, asking prices simply ridiculous for London salaries let alone for South Wales salaries and ditto for rental prices. It can only end one way. Interesting inside information though.

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Went to Gorseinon this afternoon - suburb in the West of Swansea - which has 4 or 5 EA branch offices located there. I could not believe my eyes. The windows were full of:

NEW ON MARKET

NEW PRICE

and, best of all;

REDUCED PRICE

...on numerous properties. When I looked through the windows I saw that it was a similar case on many of the properties advertised inside also. I couldn't believe how many had REDUCED PRICE and they really stood out.

Boy, is Swansea, IMPO, going to see a BUG house price crash in the coming years!

Btw, some EAs had BOTH REDUCED PRICE and NEW PRICE labels which is, doh, a bit pointless isn't it. After all, a NEW PRICE is a REDUCED PRICE isn't it? Or do EAs really say "Well, we advertised that one at 200K last month but now we are advertising it at 250K!".

Houses in Loughor that were 60Kish 4 years ago are now advertised at 140 to 160K - WHAT A JOKE!!!

Edited for typo.

Edited by The Masked Tulip

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14,000 NEW HOMES IN COUNCIL BLUEPRINT

The latest version of the council's unitary development plan (UDP) will be published on Wednesday. The plan contains guidelines for where and when houses can be built in Swansea.

Among the recommendations are proposals for almost 14,000 new houses in the county and city.

http://www.thisissouthwales.co.uk/displayN...tentPK=13374158

HOUSING MARKET IS SLOWING DOWN AS PRICES START TO FALL

House prices in Llanelli are falling and the market is slowing down. Estate agents have confirmed prices in Llanelli are at their lowest in 18 months.

Some homeowners have resorted to advertising their properties with two estate agents at a time, hoping for a quicker sale.

Several estate agents have reported that less people are now moving into Llanelli.

It is leaving a glut of properties on the market.

http://www.thisissouthwales.co.uk/displayN...e=sidebarsearch

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There is a big demand for properties up to £100,000.

"We don't really know why people are not buying houses over that amount but they are not selling well.

Now let me think <_<<_<<_< Ahh.... could it be that PEOPLE CAN'T AFFORD THEM

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  • 336 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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