olde guto Posted February 10, 2016 Share Posted February 10, 2016 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. Quote Link to comment Share on other sites More sharing options...
SpectrumFX Posted February 10, 2016 Share Posted February 10, 2016 Those prices are still eye watering, even after the reductions. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 10, 2016 Share Posted February 10, 2016 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 Quote Link to comment Share on other sites More sharing options...
LC1 Posted February 10, 2016 Share Posted February 10, 2016 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. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted February 10, 2016 Share Posted February 10, 2016 Who's that big infamous BTLer in Cardiff? I forget their name... Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted February 10, 2016 Share Posted February 10, 2016 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. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 10, 2016 Share Posted February 10, 2016 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 Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted February 10, 2016 Share Posted February 10, 2016 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. Quote Link to comment Share on other sites More sharing options...
Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted February 10, 2016 Share Posted February 10, 2016 Cardiff is a vile city, to me - far prefer Swansea, which is far more human - or Bristol for that matter - Cardiff lacks soul. Quote Link to comment Share on other sites More sharing options...
olde guto Posted February 10, 2016 Author Share Posted February 10, 2016 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. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 10, 2016 Share Posted February 10, 2016 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 Quote Link to comment Share on other sites More sharing options...
janch Posted February 10, 2016 Share Posted February 10, 2016 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 . 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. Quote Link to comment Share on other sites More sharing options...
monkeyman1974 Posted February 10, 2016 Share Posted February 10, 2016 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. Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted February 10, 2016 Share Posted February 10, 2016 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 Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted February 10, 2016 Share Posted February 10, 2016 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. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 10, 2016 Share Posted February 10, 2016 Why has no one started a thread about such things before !!!! Quote Link to comment Share on other sites More sharing options...
long time lurking Posted February 10, 2016 Share Posted February 10, 2016 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 Quote Link to comment Share on other sites More sharing options...
MattW Posted February 10, 2016 Share Posted February 10, 2016 Seems like the smart student landlords are getting out right now, can't say I blame them. Quote Link to comment Share on other sites More sharing options...
olde guto Posted February 10, 2016 Author Share Posted February 10, 2016 (edited) 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 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 Lambs Knuts to the slaughter, it'll be a f-ing massacre Edited February 10, 2016 by olde guto Quote Link to comment Share on other sites More sharing options...
LC1 Posted February 12, 2016 Share Posted February 12, 2016 (edited) 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 Lambs Knuts to the slaughter, it'll be a f-ing massacre 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 February 12, 2016 by LC1 Quote Link to comment Share on other sites More sharing options...
chiefofwales Posted February 12, 2016 Share Posted February 12, 2016 Exactly! There's a massive over supply of accommodation now for students here and it's a bubble that's waiting to be burst very soon Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.