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Realistbear

Welsh "riviera" (port Talbot) Frenzy Sends H P I Soaring

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

House-price rises second only to London
Jun 29 2007
by Paul Rowland, Western Mail
WELSH house prices saw rises second only to London’s over the past year, according to new figures released yesterday..../
Fourteen of Wales’s counties saw house prices increase, with Neath Port Talbot recording the Wales’ and England’s largest
monthly rise of 2.4%,
to an average house price in the county of £104,270.

The Welsh must be "getting in quick" as global warming turns the Welsh Riviera into the new Monaco and playground for the nouveau riche.

Poor sods, they don't know what is about to hit them.

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Wales is about a year behind the rest of the country. My friend picked up a respectable end of terrace in Colwyn Bay for about £45k in 2002 and then sold it last year for about £100k.

I've been monitoring prices in Nottingham and back at home, and although the Nottingham prices are definitely coming down, it still costs about £80k for a minimum spec one bedroom flat at home; just give it time :)

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Guest DissipatedYouthIsValuable
Wales is just getting round to soaking up the increase in money supply. Once it's saturated, we all know what happens next. :)

I hate to be a doubter, but perhaps the whole article is ********?

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Plans to tackle the HPI in Wales? same old story....

"Nick Bennett, chief executive of Community Housing Cymru, the umbrella body for housing associations, said, “Overall we welcome what’s in the document. Before the election we set out our three priorities for the sector: Improving the level of investment in social housing grants; regulating the sector better so there was less inappropriate bureaucracy; and more money for the Supporting People programme aimed at helping vulnerable people.

The One Wales document carries commitments to two of the three priorities. There is presumably an intention to increase the level of housing grant, because of the target to have 6,500 affordable units over the next four years. There is also a welcome undertaking to increase the funding for Supporting People. I can’t see anything in the document about reducing bureaucracy.

The fact is there is a crisis in affordable housing caused by a lack of supply. There needs to be a big increase in the social housing grant. The one element of the document I am not happy about is the idea of providing grants for first-time buyers. That is likely to create demand rather than supply."

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

----

When will these numptys wake up and realise it is more than just a shortage of supply driving HPI !?!

Edited by studdymx

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Guest d23
http://icwales.icnetwork.co.uk/0100news/02...-name_page.html
House-price rises second only to London
Jun 29 2007
by Paul Rowland, Western Mail
WELSH house prices saw rises second only to London’s over the past year, according to new figures released yesterday..../
Fourteen of Wales’s counties saw house prices increase, with Neath Port Talbot recording the Wales’ and England’s largest
monthly rise of 2.4%,
to an average house price in the county of £104,270.

The Welsh must be "getting in quick" as global warming turns the Welsh Riviera into the new Monaco and playground for the nouveau riche.

Poor sods, they don't know what is about to hit them.

2.4%?

Wow, thats even more than the West Midlands 1.7% monthly increase

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I posted on here a while back that Wales was still booming and got laughed off.

I have seen it for myself, I do not come on here and post something for no reason like many.

In the past month Its the most sold signs I have seen in at least 2 years.

The reasons:-

1) Prices in Wales are still behind many parts of the Uk so 10% YOY may be £13,000 on average but around £20,000 for the rest of the uk

2) When you look at what your getting for the money its no wonder many buy a second holiday / Retirement home in wales

3) There is still money to be made unlike the rest of the UK, I think money is shifting to Wales to catch the last of the booming property market here

Sell up your 3 bed terrace in London for £500,000 and buy a detached bungalow on the Sea front in Wales with Low crime for £275,000.

What more could you want for your retirement

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Sell up your 3 bed terrace in London for £500,000 and buy a detached bungalow on the Sea front in Wales with Low crime for £275,000.

What more could you want for your retirement

Yet more reasons why the rich use the Welsh countryside as their little playground - Just don't expect the people brought up and priced out of the area to be welcoming.

Thanks to Labour increasing the divide between the rich and poor - through regressive taxation, this trend is all but set to continue.

Edited by studdymx

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http://icwales.icnetwork.co.uk/0100news/02...-name_page.html
House-price rises second only to London
Jun 29 2007
by Paul Rowland, Western Mail
WELSH house prices saw rises second only to London’s over the past year, according to new figures released yesterday..../
Fourteen of Wales’s counties saw house prices increase, with Neath Port Talbot recording the Wales’ and England’s largest
monthly rise of 2.4%,
to an average house price in the county of £104,270.

The Welsh must be "getting in quick" as global warming turns the Welsh Riviera into the new Monaco and playground for the nouveau riche.

Poor sods, they don't know what is about to hit them.

It must be the only county left where houses are (were) remotely affordable on local wages

oh...and the beautiful scenery

http://www.southwalesinfocus.com/photos/porttalc.jpg

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shortage of supply in wales - nonsense. In the rhondda valley where some of my family live there are plenty of houses and cheap too. Its the shortage of jobs thats the problem

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shortage of supply in wales - nonsense. In the rhondda valley where some of my family live there are plenty of houses and cheap too. Its the shortage of jobs thats the problem

I totally agree!! Did you see this recent article:

"Rising unemployment in Wales is causing serious affordability problems in the principality's property market, one local MP has warned.

According to Jenny Willot, the MP for Cardiff Central, an increasing number of young people in Wales are finding themselves in financial difficulty because they are unable to find work, making them even less able to afford to buy their first home.

Ms Willot was reacting to figures released recently by the Office of National Statistics, showing that unemployment in Wales has increased by 18 per cent in the last year alone.

"Personal debt in Wales increases by £18m a day," she said.

"House prices are in Wales are rising well above the UK average and mortgage affordability is at a record 16-year low.

"[The] failure to combat rising personal debt, build affordable houses and generate sustainable job growth in Wales will result in many more falling into financial ruin."

There is also the concern that the worsening financial situation of many families could lead to difficulties in making mortgage repayments -particularly in light of the recent increase in interest rates to 5.5 per cent. "

Source: http://www.mform.co.uk/mform/mform?content...6329.xhtml@1002

Edited by studdymx

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And in Wales you get FREE - Bus pass (Over 60) , prescriptions (Across the board) , University fees

And your point is?

These are just "sweetners" to make the Welsh voter:

i) think the Welsh assembly is worthwhile

ii) even more dependent on government through handouts/subsidies - and we will stupidly thank them for it

Edited by studdymx

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And in Wales you get FREE - Bus pass (Over 60) , prescriptions (Across the board) , University fees

We don't get free university fees! Welsh residents don't have to pay top-up fees if going to a Welsh university, which is great - but not to be confused with free university fees!

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Low transaction volumes account for this IMHO, similarly "Russian Oligarchs buying up London" headlines should be ignored - "The number of properties sold in London for over £1 million increased by 14 per cent between March 2006 and March 2007, from 276 to 314" - 38 more properties sold for over 1 million in the past twelve months...er..wow <_<

http://firstrung.co.uk/articles.asp?pageid...&cat=62-0-0

Sales volumes

In the months December 2006 to March 2007, transaction volumes averaged 94,091 transactions per month. This is an increase from the same period last year when sales volumes averaged 90,195.

The pattern of transaction volumes in London continues to mirror the rest of the country. Price index volatility is greater in areas where recorded sales volumes are low. Index volatility leads to erratic and high changes in price. Some of the areas that typically have very low transaction volumes include but are not limited to the following:

-- City of London

-- Rutland

-- Isle of Anglesey

-- Merthyr Tydfil

-- Blaenau Gwent

-- Ceredigion

-- Torfaen

Edited by Converted Lurker

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Where I live £8 an hour , for the summer (seasonal work only) is a good salary - that's what la creme de la creme earn.

Another stat - over 60% of the economy is public sector...

In other words the economy is a total joke - Slovenia is wealthier than Wales.

Most of Wales is receiving emergency EU Objective 1 funding to help revive the economy, as Wales is just so dirt poor - most of this has been swallowed up by public sector projects (and even a Rugby College). :ph34r:

Edited by gruffydd

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Where I live £8 an hour , for the summer (seasonal work only) is a good salary - that's what la creme de la creme earn.

Another stat - over 60% of the economy is public sector...

In other words the economy is a total joke - Slovenia is wealthier than Wales.

Most of Wales is receiving emergency EU Objective 1 funding to help revive the economy, as Wales is just so dirt poor - most of this has been swallowed up by public sector projects (and even a Rugby College). :ph34r:

But you do not need locals to buy in order to bump up prices, How many born and bred londoners can now buy in London, its outside money and the same is now happening in Wales.

Money from other parts of the country is buying property in Wales, its called the ripple effect of a big pond with London in the middle.

Thats why only now Wales is starting to see these higher growths, its further away from London

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Where I live £8 an hour , for the summer (seasonal work only) is a good salary - that's what la creme de la creme earn.

Another stat - over 60% of the economy is public sector...

In other words the economy is a total joke - Slovenia is wealthier than Wales.

Most of Wales is receiving emergency EU Objective 1 funding to help revive the economy, as Wales is just so dirt poor - most of this has been swallowed up by public sector projects (and even a Rugby College). :ph34r:

Could not agree more, I found this site via this link

http://www.housepricecrash.co.uk/forum/ind...showtopic=20041

Have a look at the stats they are an eye opener.

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Guest DissipatedYouthIsValuable
But you do not need locals to buy in order to bump up prices, How many born and bred londoners can now buy in London, its outside money and the same is now happening in Wales.

Money from other parts of the country is buying property in Wales, its called the ripple effect of a big pond with London in the middle.

Thats why only now Wales is starting to see these higher growths, its further away from London

They buy in the summer and leave in the winter.

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