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BubblesBurst

North Wales Property Not Selling! Stagnant

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It used to be the hot topic of conversation but in these uncertain times the future's not looking so bright!

The average 1st time buyers house in the Conwy County area of North Wales is now approximately 11 times the average local salary.

The local housing market is presently flat Stagnant with the same stale over priced properties, many being advertised unsold for over 18 months. The greedy sellors missing out on the peak of the boom last year.

Instead of correcting the inflated asking price to suit the changing market, vendors advertise with multiple agents. Thus highlighting the current unrealistic valuations.

Do we really need any more hotels converted into "luxury appartments" when these new appartments are now being sold off with "no chain" by the would be buy to letters who got onto the market just a little too late. Many now standing empty and unsold.

Are we now begining to see the cracks appearing, already 3 local estate agents have closed down this year ?

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It used to be the hot topic of conversation but in these uncertain times the future's not looking so bright!

The average 1st time buyers house in the Conwy County area of North Wales is now approximately 11 times the average local salary.

The local housing market is presently flat Stagnant with the same stale over priced properties, many being advertised unsold for over 18 months. The greedy sellors missing out on the peak of the boom last year.

Instead of correcting the inflated asking price to suit the changing market, vendors advertise with multiple agents. Thus highlighting the current unrealistic valuations.

Do we really need any more hotels converted into "luxury appartments" when these new appartments are now being sold off with "no chain" by the would be buy to letters who got onto the market just a little too late. Many now standing empty and unsold.

Are we now begining to see the cracks appearing, already 3 local estate agents have closed down this year ?

Read last year that sea view homes in LLandudno were reaching one million pounds. Seems that the "investors" who paid that much may see the greatest depreciation when the bottom of the market is eventually reached. Wales is a beautiful country (the land of my fathers) but a million for a holiday home in LLandudno??? :huh:

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It used to be the hot topic of conversation but in these uncertain times the future's not looking so bright!

The average 1st time buyers house in the Conwy County area of North Wales is now approximately 11 times the average local salary.

The local housing market is presently flat Stagnant with the same stale over priced properties, many being advertised unsold for over 18 months. The greedy sellors missing out on the peak of the boom last year.

Instead of correcting the inflated asking price to suit the changing market, vendors advertise with multiple agents. Thus highlighting the current unrealistic valuations.

Do we really need any more hotels converted into "luxury appartments" when these new appartments are now being sold off with "no chain" by the would be buy to letters who got onto the market just a little too late. Many now standing empty and unsold.

Are we now begining to see the cracks appearing, already 3 local estate agents have closed down this year ?

Excellent news...I love North Wales...good to see the first cracks appearing. Hope the locals will be back in their 'own homes' before long. :)

P.S I'm not from North Wales but love to visit the place. Can't stand to see those lovely villages looking like ghost towns because local houses have been sold for holiday homes.

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Yes it's true I'm afraid, the propery on Marine Drive in Llandudno is all in the million pound+ bracket.

Probably not bought by "local people" either. Not shifting though!

Even the retired English folk from Manchester and the North cannot afford the current prices.

Still it's worth the extra premium to live in such a beautiful part of the country.

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  • 301 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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