Jump to content
House Price Crash Forum
olde guto

Big Rental Property Dump In Cardiff?

Recommended Posts

Interesting... about 10 properties, all clearly HMOs, all reduced in price yesterday, all in the studenty area, several streets with 2 or more properties, being sold by an estate agent that is probably better known for being a letting agent.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=BRANCH^58239&sortType=6&numberOfPropertiesPerPage=20

Looks to me at least like a LL is off-loading their portfolio.

Share this post


Link to post
Share on other sites

Those prices are still eye watering, even after the reductions.

Yup thats Cardiff for you London prices with Welsh wages ...when/if interest rates go up there will be carnage for everyone

HMO`s are the only way these prices can be sustained ,but there are more and more purpose built student accommodation coming online so there days are numbered

You can see a them developing http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=REGION%5E20955&insId=3&radius=0.0&minPrice=&maxPrice=&minBedrooms=&maxBedrooms=&displayPropertyType=&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false

IMO they have missed the boat :D

Share this post


Link to post
Share on other sites

I saw a few terraced streets in prime student HMO land were awash with builders last summer, many of them seemingly being ripped out and refitted from scratch - I guessed at the time that the LLs had realised that there was oversupply of very poor quality lets, and that they needed to be more competitive, smartening up (and raising rents presumably) in a bid to attract students away from the new purpose builds.

That Cardiff seems so overpriced has always puzzled me slightly, given the quality of most of the housing stock.

Share this post


Link to post
Share on other sites

There are over 50,000 students at the various university campuses in Cardiff, and that doesn't include all the trainees and students at the Heath hospital.

Although there are increasing numbers of rooms in purpose built blocks, and although some of these students must live with family to save money, that can't possibly account for all 50,000 of them.

Share this post


Link to post
Share on other sites

There are over 50,000 students at the various university campuses in Cardiff, and that doesn't include all the trainees and students at the Heath hospital.

Although there are increasing numbers of rooms in purpose built blocks, and although some of these students must live with family to save money, that can't possibly account for all 50,000 of them.

You are right to a point but there is an oversupply problem just look at the amount still available at this time of year

Like LC1 stated when this happens the slums will be left unoccupied, and there are a lot of students now living on the bay two sharing a one bed flat with a sofa bed

Hasn't the Heath got there own accommodation for the large part now

Share this post


Link to post
Share on other sites

You are right to a point but there is an oversupply problem just look at the amount still available at this time of year

Like LC1 stated when this happens the slums will be left unoccupied, and there are a lot of students now living on the bay two sharing a one bed flat with a sofa bed

Hasn't the Heath got there own accommodation for the large part now

Only Pembroke House and Carmarthen House, as far as I know. There are 12 rooms per floor in both, but I don't recall how many floors there are.

Share this post


Link to post
Share on other sites

The prices are stupidly steep, seems like the pricing formula is just based on number of rooms.

I had another quick look at some of the lisitings and they are clearly landlord sales talking about yields etc. One thing that eventually clicked is that I remember visiting one of those houses when a mate of mine was a student in Cardiff in the mid-late 90's! It doesn't seem to have changed hands since then, but has been extended as I think it was a 3-4 bed at the time. This could be a pretty significant as it means longterm LLs are trying to cash-in their chips.

Share this post


Link to post
Share on other sites

Only Pembroke House and Carmarthen House, as far as I know. There are 12 rooms per floor in both, but I don't recall how many floors there are.

I thought they completed another block not that long ago 5-6 years ? the big white block next to the middle exit

Share this post


Link to post
Share on other sites

Who's that big infamous BTLer in Cardiff? I forget their name...

I was thinking the same :) Maybe our Ros's (and some of her mates') property dreams are turning sour :D. In the Roath/Cathays area of Cardiff there is/was (when I lived there 10 years ago) a huge amount of student houses. If they all start reducing at once it could get quite interesting. Cardiff has a very large amount of Victorian terrace housing and a lot of it in a poor state. I lived in one for 14 years and it was a complete money pit.

Share this post


Link to post
Share on other sites

I thought they completed another block not that long ago 5-6 years ? the big white block next to the middle exit

You're not thinking of the Children's Hospital, are you?

I've found the health board's website with information for medics, and under accommodation it only mentions Pembroke / Carmarthen. http://www.cardiffandvaleuhb.wales.nhs.uk/accommodation-at-uhw

Share this post


Link to post
Share on other sites

Huge amount of purpose built student accommodation being built in Cardiff. Suspect it's a much more attractive proposition for students (especially overseas), than the AST lottery.

Still not enough for the 50,000 + students in Cardiff.

I suspect, though, that the combination of the Rent Smart Wales rules* and the tax changes have persuaded some landlords that the game is no longer worth the candle.

*which have to be complied with by November this year, which would explain LLs trying to sell student properties now rather than advertise them for the next academic year - January/February is peak time for getting next year's students 2nd and 3rd years in.

Share this post


Link to post
Share on other sites

You're not thinking of the Children's Hospital, are you?

I've found the health board's website with information for medics, and under accommodation it only mentions Pembroke / Carmarthen. http://www.cardiffandvaleuhb.wales.nhs.uk/accommodation-at-uhw

Definitely not thinking the children's hospital ,but was built around the same time ,could well be an admin building

Share this post


Link to post
Share on other sites

For those of you who have the propertybee plugin I suggest you fire it up and have a look at those particular student lets. They were all "Initial entry found" on the 14/15/16 Oct 2015, clearly this LL(s) knew the game was up but is a greedy knut and with the autumn statement and them not selling might be beginning to panic, time for the popcorn :D

Not sure about the student housing people are on about near the hospital do you mean this place?

https://www.google.co.uk/maps/@51.5046408,-3.1836022,3a,66.8y,244.16h,91.67t/data=!3m4!1e1!3m2!1sL3EOQF5LPkqscmHbIf3TuA!2e0?hl=en

As for the big boys a quick google showed a 24 storey student halls that is being planned, housing nearly 500 students

http://www.walesonline.co.uk/business/commercial-property/plans-been-revealed-24-storey-10683079

Then on top of that flats for 600 students are in the pipeline

http://www.walesonline.co.uk/news/wales-news/600-new-student-rooms-built-10576200

:lol:

Lambs Knuts to the slaughter, it'll be a f-ing massacre :D

Edited by olde guto

Share this post


Link to post
Share on other sites

Then on top of that flats for 600 students are in the pipeline

http://www.walesonline.co.uk/news/wales-news/600-new-student-rooms-built-10576200

:lol:

Lambs Knuts to the slaughter, it'll be a f-ing massacre :D

Hmm, what would students prefer: modern purpose built accommodation slap bang in the middle of the bustling city centre, or a damp-infested squat HMO in Cathays?

I wonder... :)

Edited by LC1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   94 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

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.