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Realistbear

Wales (and The U K ) May Already Be In Crash Mode

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http://icwales.icnetwork.co.uk/0100news/02...-name_page.html

Is Property Ladder killing the property ladder?

Jun 29 2006

Tryst Williams, Western Mail

LEGIONS of armchair viewers continue to be lured in by property programmes, but new figures reveal they may already have missed the boat on the richest pickings on the market.
A survey published just as a new series of Property Ladder hit our screens last night shows the
average value of rented homes in Wales and most of the UK has
dropped 11% in just three months
.
Experts have also warned that expected interest rate rises and increased landlord regulations could put a further squeeze on small investors looking for a bricks and mortar nest egg.
...../
But while the property market has slowed down recently, the rise of such TV shows remains unabated, fuelling suspicions that the shows are
cashing in on
yesterday's
phenomenon
.

If 20% down is a "crash" there is not long to go in Wales. :lol:

Edited by Realistbear

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If that is the true 3-month fall and it has not been already annualised, that is a 37% a year annualised drop. Way beyond crash speed. What is the survey?

It seems to be a VI survey--are they getting real at last?

"Nevertheless the latest quarterly report by the
Association of Residential Letting Agents
(Arla) suggests small-time investors are not being put off by diminishing returns."

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Wales, and Cardiff Bay in particular, are going to be very badly hit. As all those flats and BTLs start coming back onto the market as people realise that Wales isn't London or the South East and never will be, I see prices dropping 30-50% from what they could get brand new...that's just for starters. Two bedroom flats going for 215k??!! They'll be lucky to get a 100k in two years time. I think the Olympics will protect the London market to some extent, but Cardiff, Leeds, Liverpool, Manchester, Brum are all totally shafted. Anyone who bought a new build in any of these places in the last two years is screwed. This will feed into the wider market and lead the headline figures down (although expect to see VI adjusted rates excluding flats being quoted in Express etc...they were happy to have the figures skewed by BTL on the way up, but they will try to exclude them on the way down in small print saying they don't represent the wider residnetial market).

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I am always surprised when people talk about the Olympics effect in London when the Olympic boroughs (except for the Canary Wharf/Tower Hamlets city bonus effect) are barely showing price rises at present.

All the growth in the capital seems to be in the west/central fashionable areas - not in the east?! This would have happened with or without 2012. Of course any one buying now in London better get their refurbishment done quickly. You won't be able to get a tradesman for love or money after 2009 - they will all be in Stratford building the prefab Olympic village!

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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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