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Flat Price Crash

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http://www.auction.co.uk/residential/LotDetails.asp?A=832&MP=24&ID=832000056&S=L&O=A I have followed this development since it`s announcement ,they moved a fair few at the start 06-07 but the prices have been reduced year on year with all sorts of open days and special offers .

Now £1.4 million guide price for 19 flats which were all 200-250K + when first marketed in 06-07

Edited by long time lurking

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http://www.auction.co.uk/residential/LotDetails.asp?A=832&MP=24&ID=832000056&S=L&O=A I have followed this development since it`s announcement ,they moved a fair few at the start 06-07 but the prices have been reduced year on year with all sorts of open days and special offers .

Now £1.4 million guide price for 19 flats which were all 200-250K + when first marketed in 06-07

I went on a date with a woman who lived in one of those flats - had no idea they were so close to the coast.

At the time I remember thinking what a remote, desolate and cold place. Even though there was a huge car park the woman I dated told me that there were lots of rows about who parked where.

That is a load of flats for sale at one location and I pity anyone who paid in the 200 - 250K range if 19 are now on for 1.4 million.

Worthy of the main thread.

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I went on a date with a woman who lived in one of those flats - had no idea they were so close to the coast.

At the time I remember thinking what a remote, desolate and cold place. Even though there was a huge car park the woman I dated told me that there were lots of rows about who parked where.

That is a load of flats for sale at one location and I pity anyone who paid in the 200 - 250K range if 19 are now on for 1.4 million.

Worthy of the main thread.

sounds a similar drop and about right as my area, flats in my Block £200k-£260k new in the years 2005-6, a couple sold for under £80k, 2011+ (not in Wales though)

These flats seem well out of the way, out of cardiff, not ideal.

I went to cardiff last year on a bank holiday, we were hoping to go to the Doctor Who exhibition but didn't realise it was closed down until outside doh! went to barry, had a little walk about, council guy picking litter having it easy as weekend pretty shit and hardly any tourists/day trippers out, easy life.

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I went on a date with a woman who lived in one of those flats - had no idea they were so close to the coast.

At the time I remember thinking what a remote, desolate and cold place. Even though there was a huge car park the woman I dated told me that there were lots of rows about who parked where.

That is a load of flats for sale at one location and I pity anyone who paid in the 200 - 250K range if 19 are now on for 1.4 million.

Worthy of the main thread.

You mean Hayes Point - right?

I don't know about remote as its only just over a mile to one of Barry's train stations and a little bit further to Barry centre and of course Cardiff is only a short train journey away. As for desolate, it looks really nice in the summer. Its got its own tennis courts and cricket ground and cricket is regularly played there plus its got its own sauna, gym and swimming pool.

I confess that I did contemplate moving there, but being a dog owner I would have to buy and not rent and to my mind, even though I think its a really nice site, its still way over priced.

But I'll be watching this auction.

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It`s a nice enough place but the killer is the service charge ,it`s just under 3k pa for the flats going through the above auction

+ any of these "extras"on top? Car Parking Space. Ground Rent. Buildings insurance through company.

jeez thats a bit steep. Mines around £1200 a year which I thought was a bit much. (East Anglia)

all of those who are BTL must be losing hand over fist :blink:

Edited by motch

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+ any of these "extras"on top? Car Parking Space. Ground Rent. Buildings insurance through company.

jeez thats a bit steep. Mines around £1200 a year which I thought was a bit much. (East Anglia)

all of those who are BTL must be losing hand over fist :blink:

Ground rent is a few hundred car parking is free and the 3k is for two beds

A mate rents a two bed for 650 a month ( not the two bed /bathroom one`s in the auction) but a cheaper one but it would still have cost the wrong side of 170k so if you take the 3k service charge from the rental income there is very little left to play with ,I can only assume the LL was a cash buyer

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Went for £1.6 million, according to the Allsop website

http://www.auction.co.uk/residential/resultslive.asp

Couldn't get link in OP to work, but details of lot here http://www.auction.co.uk/residential/LotDetails.asp?A=832&MP=125&ID=832000056&S=L&O=A

19 flats for 1.6 million - about 84K each. Oops for anyone else living there who paid 200 to 250.

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19 flats for 1.6 million - about 84K each. Oops for anyone else living there who paid 200 to 250.

It was actually 20 ,I was 1 out , it will be interesting to see what if anything turns up on the land registry ,there are plenty still on the market for 180-190 k

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  • 238 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% +
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      • Even
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      • up 5%



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