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bluebeard

"greedy Homeowners Stifle Property Market In Wales"

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As a very occassional poster, apologies if this has been posted before. Came across this article recently which I thought might be of interest to this board.

Headline taken from front page of Western Mail on 30th March. Extracts include:

"Profit-hungry homeowners are strangling the Welsh property market by demanding too much for their houses, experts warned yesterday. They say some of the blame lies with estate agents who "gild the lily" to ensure they get property on the books".

Julian King, manging director of National Homebuyers said "Too many vendors are given an inflated asking-price, meaning their houses take longer to sell or stay on the market indefinately. Nearly a third of independent surveyors in Wales felt the market was static or slow and 35% described the property situation as a buyer's market".

National Homebuyers received the following responses from 813 independent RICS-qualified surveyors questioned on the state of the market:

Buoyant 2%

Selling readily/reasonable demand 1%

Good/satisfactory 3%

Slight upward trend/improving 2%

Stable/static 21%

Quiet 28%

Buyers' market 35%

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Guest Winners and Losers

Buoyant 2%

Selling readily/reasonable demand 1%

Good/satisfactory 3%

Slight upward trend/improving 2%

Stable/static 21%

Quiet 28%

Buyers' market 35%

WOW. But I still think property is over valued, so WHO is buying? If you are buying, come on here and tell us why and how!!

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I can vouch for this - a family member has been trying to sell a house in Wales for a year now - £250000 - originally bought for £120000 a couple of years ago

Their reason for selling at this price - the EA thought they could get it and they need the money to buy overinflated house elsewhere - they are worried that they will be saddled with the shortfall...

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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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