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The Masked Tulip

Seeing Some Nice Falls In Swansea

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Browsing through Rightmove tonight for Swansea I have seen several 10K to 20K reductions and a couple of 50K reductions - nice!

Also went into an EA's in Swansea West today and they had loads of red lettered 'Reduced' stickers on numerous properties. I didn't bother asking how much as last time I was in there they were talking 1 or 2 grand off a Swansea West Property - big s odding deal - when everyone and his dog now knows a 30% PLUS crash is coming in the next year or so.

I asked them for their repossessions' list though and they looked shocked. Well, the younger ones did and the older one just feigned looking surprised. They denied such a thing existed which was contrary to what a colleague in another branch told me a few weeks back. Oh well.

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Browsing through Rightmove tonight for Swansea I have seen several 10K to 20K reductions and a couple of 50K reductions - nice!

Also went into an EA's in Swansea West today and they had loads of red lettered 'Reduced' stickers on numerous properties. I didn't bother asking how much as last time I was in there they were talking 1 or 2 grand off a Swansea West Property - big s odding deal - when everyone and his dog now knows a 30% PLUS crash is coming in the next year or so.

I asked them for their repossessions' list though and they looked shocked. Well, the younger ones did and the older one just feigned looking surprised. They denied such a thing existed which was contrary to what a colleague in another branch told me a few weeks back. Oh well.

I agree Tulip - the pace looks to have picked up a bit over the last month or so.

I've also noticed a big-ish house in East Swansea is back on the market (looks like a repo). When I first saw it was on at £370k (ludicrously over-priced and the owner was a bit too desperate for my liking). Now at £290k.

Interesting times.

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Yes there are some asking price drops/falls recently - still not enough to make me want to buy though.

I definitely think the sentiment is beginning to change.

I've heard a few people (who normally talk up house prices and the need to "get on the ladder") saying they wouldn't buy now when prices will be lower in a few months time.

Also, a friend of mine who is looking to sell his house has told me of his annoyance with estate agents (in Swansea). He is unhappy that they are "under valuing" his house. He's called out five or six agents over the last month and the valuations are getting lower and lower. They must be getting desperate for some commission - it's all good news for those of us who have been prudent (to use a word Gordon Brown has misused for 11 years) and saved our money rather than borrowing huge amounts of money to speculate on buying over priced houses.

Today, I've been looking at The Bee's sidebar - never really noticed the sidebar feature previously. There are lots of properties listed as Changed but strangely when I click on them a lot of them are shown as being delisted today (by a few different agents) - can't imagine they have sold.

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John Francis in particular have delisted a number of properties today. I think I saw Astleys and Dawsons had delisted a few too.

Maybe they are delisting properties if vendors are refusing to lower the asking prices?

Amazingly the sidebar also shows about a dozen properties (New Homes mainly) where the asking prices have increased! Amazing!

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Was talking to an EA earlier on who told me that some houses in Swansea West have gone for 35% less in recent weeks as the sellers have been desperate to sell. He also told me that they no longer will accept a property to sell if the seller does not accept their valuation. If the seller demands a ridiculous asking price they simply refuse to market the house.

Likewise, he also told me that they have kicked loads of sellers off their books as it is a waste of time and money to market something that is way over-priced. Apparently the firm is going through their books and ringing up sellers and getting to reduce their asking price - if they don't reduce they get kicked. This is in line with what another EA from a different chain told me they were doing a few months back.

To be frank, I am still personally expecting 50% falls in Swansea as I have a gut feeling that the old Swansea adage of "fur coat and no kinckers" will proove to be never truer than in the recent credit bubble. I strongly suspect that large numbers of people in Swansea, especially Swansea West, are up to their eyeballs in debt and it is all about to come tumbling down. Give it time.

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Great news !!

Its taken a while but it always was going to , but now at last this crash is gaining momentum.

This is the big one , houses prices are on the bungeeeeeeeeee rope, and after refusing cowardly to jump they have been pushed over the edge ! but how low will they go ?? will the rope save them ?? what if the rope is too long ??.

People say 20 % some 35 others more 40/50/60 and even 70 % !!!.

What will things be like when this crash is over?? what will be the new normal??

Will a new bubble start to inflate or will the scars be too deep that it wont happen again in our lifetime?

Interesting times indeed.

Great reading your posts MT, and like Dave i also wonder how much time do you actually spend in and talking to these EAs??

Perhaps .... maybe your ....no???? your not are you ?? are you? one of them?????

Heard a few comments this week ...

1.(builder) " Its the fkking media fkking it up for all of us,and their allowed to get away with it"

Lol i could not be bothered to deabte this with him ,so just fakely glumly agreed and changed the subject.

2.(salesman in our office) " Bragging of how i could not even afford the garage of his 4 bedroom property in swansea west " was in jest mind, but i do really think he believes this!!"

Oh boy you dont know whats coming Mr salesman.

I cannot beleive the amount of people who have such limited knowledge of the housing market in this current climate.

I was one, but thanks to this site i feel greatly informed, however it was my concern that house prices could not keep up their pace that led me to tis site in the beginning.

Like MT im hopeful of half price housing in Swansea... although will i buy at half price if there is no work?? ??

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Tulip, how come you seem to spend so much time talking to estate agents?

Wow, interesting to hear about offers being accepted at 35% below asking prices.

Because I have had 5 absolutely really bad years - the worst in my life and which I would not wish on anyone - and I had to take time out in order to stay alive. I hope you do not ever have to go through what I have done but, if you do, I hope you have the support of good friends as I did.

Anyhow, I talk to anyone and everyone. It is amazing what you learn when you talk to people. I am very communicative anyhow. Everyone has a story and we all should listen to each others and have a chance to tell our own.

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Great reading your posts MT, and like Dave i also wonder how much time do you actually spend in and talking to these EAs??

Perhaps .... maybe your ....no???? your not are you ?? are you? one of them?????

Nah, I am not one of them. Wel, I might be one of them but, heck, in any given room there are a good handful of them... and a few of those and the odd one of them also :blink:

Part of it is that I enjoy EA baiting, part of it is that I simply want to know what is going on and a big part of it is that I simply enjoy talking to people and I find if you talk to people frankly then you often get a frank answer back.

Actually, as in the case of several car salesmen last week, I was so under-whelmed by their b ull sh*t that I simply failed to even bother engaging them in conversation and walked away.

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Not bad waiting for a month - 100K reduction. I am renting about a 5 minute walk from here. Personally, I would not give more than 250K for a top house in this area.

http://www.rightmove.co.uk/viewdetails-218...=3&tr_t=buy

date event

28 July 2008

* Price changed: from 'Guide Price £750,000' to 'Guide Price £650,000'

* Status changed: from 'Sold STC' to 'Available'

* Detailed Description changed: Gower Coast Properties are delighted to offer for sale this An individually, architect designed split level detached family property. Located in one of Swansea's most prestigious residential leafy suburbs in Derwen Fawr, convenient for local amenities, Swansea university and Singleton hospital. The property is situated Situated on a fabulous, private plot of roughly one quarter of an acre with beautifully kept, large south west facing gardens, that back onto open fields and enjoy a lovely rural outlook. The well-proportioned and very versatile accommodation, comprises; reception hall, cloakroom, super light filled sitting room with lovely garden views and an open fireplace on the ground floor. Lounge, dining room with a French door leading out on to the gardens, kitchen/breakfast room, utility area and a large bedroom with an ensuite bathroom on the lower ground floor and three double bedrooms, bathroom and a separate wc on the first floor. Externally, there is a gated, brick driveway creating parking for up to three cars and giving access to a garage, established front gardens and beautifully kept, established back gardens measuring around 72' deep and 90' wide. Reception Hall19' 6" x 9' 2" max (5.94m x 2.79m max) Glazed wooden front door, with an adjacent glazed panel. Cloaks cupboard. A large, double glazed, sealed unit picture window, to the rear, overlooking the garden and countryside beyond. Fitted shelving. Staircase to first floor. Staircase leading to ground floor. Walkway to sitting room.CloakroomWindow. Low level wc. Pedestal wash hand basin. Tiled floor. Fully tiled walls.Sitting Room18' 6" x 13' 7" (5.64m x 4.14m) A super light filled room, with large picture windows to the front and rear, commanding views of the garden and countryside at the rear. Open fireplace, with a slate hearth, copper canopy and exposed stone chimney breast. Panel radiators. French door leading out onto the rear gardens.Kitchen/Breakfast Room14' 7" x 9' 5" (4.45m x 2.87m) Laminate work surfaces, with cupboards and drawers under. Matching wall cupboards. Built-in double electric oven. Four ring gas hob with extractor fan above. One and a half bowl, single drainer sink unit with mixer tap and waste disposal unit. Part tiled walls. Recess for fridge freezer. Amtico floor. Walkway to:-Utility Area9' 5" x 7' 1" (2.87m x 2.16m) Window. Glazed back door. Stainless steel, single bowl, single drainer sink unit. Laminate work tops, with cupboards and drawers under. Space and plumbing for washing machine and tumble dryer. Useful storage cupboard. Wall cupboard. Amtico floor. Boiler room housing a 'Potterton' gas boilerand alarm console.Dining Room16' 7" x 10' 8" (5.05m x 3.25m) Large, double glazed, sealed unit picture window to the rear, overlooking the garden. Wood block floor. Staircase to hall. French door leading out to a paved sun terrace and the rear garden. Wall light points. Door to kitchen. Door to:-Lounge16' 2" x 11' 5" (4.93m x 3.48m) Double glazed, sealed unit, picture window to rear, with a lovely outlook. Door to:-Bedroom 418' x 10' 6" (5.49m x 3.20m) An ideal bedroom for a teenager or elderly relative. Window to rear, with a pleasant outlook over the garden and countryside beyond. Walk-in wardrobe with hanging rail and shelving. Door to:-Ensuite Bathroom7' 6" x 6' 8" (2.29m x 2.03m) Window. Panel bath with shower attachment. Low level wc. Pedestal wash hand basin. Fully tiled walls.LandingWalk-in airing room (7' 8" x 6' 10" (2.34m x 2.08m)). Hot water tank. Shelving. Window. Access to roof space.Bedroom 119' x 10' 2" (5.79m x 3.10m) A lovely light spacious room, with two large picture windows to rear, commanding fabulous views. Window to side. Fitted double wardrobes. Alarm consol.Bedroom 212' x 10' (3.66m x 3.05m) Large picture window, to rear, with a fabulous outlook. Fitted wardrobes and dressing table with mirror above. Access to very useful loft storage area which is boarded with light. Alarm Consol.Bedroom 310' 10" x 9' to wardrobes(3.30m x 2.74m to wardrobes) Window to side. Built-in wardrobes and dressing table, with mirror behind.BathroomWindow to front. Panel bath with shower attachment. Low level wc. Fully tiled walls.Separate W.C.Window. Wc. Fully tiled walls.Garage16' x 15' 9" (4.88m x 4.80m) Metal up and over door. Power and light. Stone pathway at the side. Useful garden store/workshop, with windows.Private Front GardenAccessed via a five bar gate. Brick, paved driveway, creating parking for up to three cars. Steps lead up to an area of lawn. Established shrubs and trees. Paved footpath to front door. There are wooden doors on both sides of the property, giving pedestrian side access.Beautiful, Established Rear GardenBeautiful, private, South/West facing rear garden, backing on to fields. Paved sun terrace on different levels, running the full width of the property, from which to enjoy the countryside views. Large lawned area. Variety of mature plants, shrubs and trees.Store Room10' x 6' (3.05m x 1.83m) With power and light.

14 July 2008

* Status changed: from 'Available' to 'Sold STC'

07 July 2008

* Brief Description changed: Gower Coast Properties are delighted to offer for sale this An individually, architect designed split level detached family property. Located in one of Swansea's most prestigious residential leafy suburbs in Derwen Fawr, convenient for local amenities, Swansea university and Singleton hospital. The ... Situated on a fabulous, private plot of roughly one quarter o...

25 June 2008

* Price changed: from '£750,000' to 'Guide Price £750,000'

23 June 2008

* Initial entry found.

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Having lived in swansea for the past 8 years or so i find it hard to believe that people can reasonably expect to get over 80 k for properties in penlan , townhill etc

I personally wouldn't stretch myself to 5 times my salary to live in these areas and i could see these areas taking a real hit when swansea west comes back down to a realistic level.

Given that the average wage in swansea has to be around the 16k mark anything above 80 k will be unreachable for alot of FTBS and single people .

My chosen area to buy would be killay area towards three crosses but currently these areas are vastly overpriced - average semis 160 k , i may look to buy when they hit nearer the 100k mark which is far more realistic but i feel sorry for all those people who felt compelled to buy in the past 4 years or near the peak because it will take them a long time to repay the massive mortgage they must have taken to afford these properties . The vast council estates in swansea were built orginally because a large volume of the city's population couldn't afford to buy and there isn't the employment to support them and with the past 10 years of right to buy and HPI the social housing stock has flooded onto the market and they will fall fastest and hardest , dragging with them the fake mumbles , derwen fawr false affluence . Roll on sensible mortgage multiples and repossesions as i can see areas of swansea going down the pan especially the marina where all the BTL'ers are going to take massive hits especially if they bought at the peak - rightmove shows prices dropping by well over 10% - the new ghetto it will probably be the new daffaty flats in 5 years lol :-

:o

Have dawsons stopped all their listings due to cost ???

Edited by vip

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Killay is nice but a bit bland. Lots of unhappy couples apparently living with their over-weight kids and wishing that they had happier, more interesting lives. I am told that affairs are pretty high there.

Go back 8 or 9 years and your 160K house currently was going for 60 to 70K. I noticed that loads have began to drop coming down from 170ish to 160ish and now in the 150s. These will continue IMPO.

Also, lots of those properties look very k nackered now and need work down on them. I tink many were built in the 1960s/70s and construction does not appear that brilliant.

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Also, a friend of mine who is looking to sell his house has told me of his annoyance with estate agents (in Swansea). He is unhappy that they are "under valuing" his house. He's called out five or six agents over the last month and the valuations are getting lower and lower. They must be getting desperate for some commission - it's all good news for those of us who have been prudent (to use a word Gordon Brown has misused for 11 years) and saved our money rather than borrowing huge amounts of money to speculate on buying over priced houses.

Speaking with vendors over the past 6 months for all properties I have valued seem to all give me the same information.

Vendors have started to do their homework and looked at as many local properties similar to theirs and tend to have a very good idea of what EA's will value their house at. They are finding that most EA's are valuing lower than what they were expecting and that is for one reason alone. Property is not shifting at what EA's consider is market value, so in order to rotate their properties and simply earn some commission they need to get new property on the market at prices that stand out from the rest. Most of my new instructions are from vendors that want their property on at certain prices and no matter what I tell them they want it at that price and nothing else. Their properties simply will not sell or be very very lucky to sell. Offers are coming in for properties on a regular basis, but way below the advertised price.

Luckily for me I do not need to sell property to survive although I do still try my best to find buyers and get the best deal for all concerned.

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It looks like John Francis Killay have delisted all their properties from Rightmove.

This is no surprise to be honest. Currently the way forward for EA's is on-line, but Rightmove and other popular portals are too expensive. Well for a small agent like me.

I would imagine that JF will put their Killay properties back on Rightmove soon, but under a different branch. They get charged per branch not per property.

Peter Alan apparently put all their properties on Rightmove recently which I believe is because they have noticed that they need to use the internet more.

The problem judging by the information given to me from on-line leads is that the big agents ignore on-line leads and just use it for advertising their name.

CharEstate Swansea launched 18 months ago and we are growing very slowly, but I still run the company from what is basically a home office. I do everything a traditonal EA does, but gain most of my leads on-line or via word of mouth and give a far more personal service. Each client is treated like they are the only client which seems to work very well although I have to keep my portfolio low in number.

I think other agents will need to go the same way after they have eventually cut back on their staff and offices. Personally I will need to find premises soon and employ somebody to take care of the admin work, but it will never be a large office full of EA's hungry for commission.

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I went to pop into John Francis in Killay last Sat and it was closed. Sign up in the window saying the office would now be closed and directing people to call a different office number.

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I went to pop into John Francis in Killay last Sat and it was closed. Sign up in the window saying the office would now be closed and directing people to call a different office number.

Ashley Jones Sketty have shut completely, not sure if that is recent or not. They're trying to sell half their office space in Morriston too.

My heart bleeds for 'em.

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Ashley Jones Sketty have shut completely, not sure if that is recent or not. They're trying to sell half their office space in Morriston too.

My heart bleeds for 'em.

I had not noticed that but IMPO it was always difficult to tell whether that branch was open or not - wrong side of the road and the windows were such that I was never certain.

I noticed Dawsons in Sketty now are cramming their window with loads of house ads - they even have about ten laid down on the ledge just below the window. You can't see them from the road but if you walk past they are there. Absolutely ridiculous asking prices IMPO. I know what the houses were going for 7 or 8 years ago, sites like houseprices back up my knowledge and I would not consider buying until there was at least a 35% reduction in asking prices... and then I would only offer 90% max so that is a 45% fall from asking prices.

I've been in there a few times and I have been told that such and such a house is one or two thousand less and I just laugh - not even keeping in line with the current, as of yesterday, Halifax YOY reduction of nearly 11%. A 300K Sketty house that has been on the market for a year, two or more should now, at least, be 33K less in asking price. I'm not seeing it.

Swansea has no industry, no well-paid jobs outside of Doctors, Barristers and the odd footie player. All those plumbers, brickies and such-like who have been perceived as wealthy in recent years are about to come a cropper so where is the money to buy? I know I keep saying it but Swansea is going to go back to the 1980s misery and I sure ain't wanting to be around to see that.

I honestly think that house sellers today who do not accept a 30% to 40% reduction now in their asking price will be regretting it in 12 months time. I can see lots of divorces resulting from "I told you we should have accepted the offer but you said no...!"

People still have failed to understand that the entire Western Banking System is now technically bankrupt. Oh well, Charlie Chaplin sold all his stocks and shares a year before 1929. A 'Swansea Boy' who no doubt would have been a HPCer today :)

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I had not noticed that but IMPO it was always difficult to tell whether that branch was open or not - wrong side of the road and the windows were such that I was never certain.

I noticed Dawsons in Sketty now are cramming their window with loads of house ads - they even have about ten laid down on the ledge just below the window. You can't see them from the road but if you walk past they are there. Absolutely ridiculous asking prices IMPO. I know what the houses were going for 7 or 8 years ago, sites like houseprices back up my knowledge and I would not consider buying until there was at least a 35% reduction in asking prices... and then I would only offer 90% max so that is a 45% fall from asking prices.

I've been in there a few times and I have been told that such and such a house is one or two thousand less and I just laugh - not even keeping in line with the current, as of yesterday, Halifax YOY reduction of nearly 11%. A 300K Sketty house that has been on the market for a year, two or more should now, at least, be 33K less in asking price. I'm not seeing it.

Swansea has no industry, no well-paid jobs outside of Doctors, Barristers and the odd footie player. All those plumbers, brickies and such-like who have been perceived as wealthy in recent years are about to come a cropper so where is the money to buy? I know I keep saying it but Swansea is going to go back to the 1980s misery and I sure ain't wanting to be around to see that.

I honestly think that house sellers today who do not accept a 30% to 40% reduction now in their asking price will be regretting it in 12 months time. I can see lots of divorces resulting from "I told you we should have accepted the offer but you said no...!"

People still have failed to understand that the entire Western Banking System is now technically bankrupt. Oh well, Charlie Chaplin sold all his stocks and shares a year before 1929. A 'Swansea Boy' who no doubt would have been a HPCer today :)

Quite.

I'm not sure if you remember Tulip, but there was a house in Sketty we were talking about here a few weeks back that went for £330k (asking) quite quickly, looked like a repo. When I enquired about it, the EA said it had gone for cash at the asking and it wasn't worth me looking at it.

Dawsons have a house on, EXACTLY the same type of house, and after having a mosey around yesterday, about 10 yards away from the one above. Have a guess what it's on for..........

£420k. Yes. £420k.

There are a few in Sketty that have been on the market about a year, and haven't dropped a penny. Lots of people in denial, methinks.

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Hello to everyone

I've been keeping a beady eye on the swansea housing market for the last 2 years and I agree with MT that we'll be looking at around 40%-50% drops in time. Unfortunately it will take a long time, probably 2-3 years I reckon.

To give you an idea of the battle we are up against I recently noticed a new property advertised by Simpsons in Limeslade for £475k:

http://www.simpsonsproperty.co.uk/fe_prope...roperty_id=1381

This is newish 3 bed detached with nice views. What is unbelievable is that property was sold a year last Arpil for £345k.

http://www.houseprices.co.uk/e.php?q=sa3+westcliff 13 West Cliff

From looking at the details all they've done is improve the garden. So there you go, 1 year & 4 months on , credit crunch and all and prices are still going up. Estate agents, in particular Gower Coast, are adding on so many extra £100ks to asking prices are now just beyond a joke. Just like that one in Derwen Fawr that MT spotted! It's got to the point where you reduce a property about 50k and it still hasn't really affected its price bracket.

My advice is to not to go near any properties for at least 1 year, and probably more likely 2.

Keep up the good post!

DM

PS Now rightmove is just an extension of Gower Coast, I use FindaProperty, which currently has just about all the estate agents for SA3

http://www.findaproperty.com/listregions.a...mp;regionid=564

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That first property looks like one of those that has been built just off Limeslade Lane - a relative of mine lives there. Her house was recently valued at 215K but opposite it a banker from London brought a property 2 years ago, knocked down the old house and built something that looks very similar to that property you have in your first link. Those homes were originally holiday chalets and people who owned them were only allowed to live in them 10 months out of 12 and they paid peanuts for them. My cousin and her neighbours have no mains sewage and rely on oil fuel for their heating and cooking.

I get Moneyweek each week and every week they have a double page of houses around the country for sale. Each week they have several properties in the 500K to 1 mill mark and it always strikes me what wonderful, beautiful properties they are and then I think of the numerous Swansea properties with similar asking prices - no comparision - and it just reinforces how ludicrous Swansea asking prices are.

I have to say, more and more, I am inclined to think that I will not buy in Swansea even when prices have fallen by 50%. By that time I think Swansea will be such a horrid, nasty and vicious place to live that I honestly can see little point in buying here. Yes, we have The Gower and wonderful Pembs and Brecon just an hour away but... Swansea is just so rough now, I can only see it getting worse in the coming downturn and, as several friends have commented to me recently, Swansea was just a miserable place to live in the 1980s recession. More and more I am looking to what I can get elsewhere for less money and in, frankly - and I hate to have to say this, a more pleasant environment to live.

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Hi MT

Yeah, you're right, I also subscribe to moneyweek and have always been amazed at the what you get can get for your money elsewhere. Also, I have friends who live between Bristol and Bath and when I go up and visit I often have a look through their eqivalent of the property post. Again it is stark to see the quality of property you can get there for £500k+, literally small country manors!

With regard to stayng in Swansea, unfortunately my job ties me here for the moment - although I'd love to break free! Having said that I've got a soft spot for swansea and I would always like to keep a place here of some sorts. Currently I'm renting, having sold just before xmas. Hoping to ride out the HPC and pick up a family detached house in west swansea, possibly mortage free depending on the size of the crash!

DM

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Quite.

I'm not sure if you remember Tulip, but there was a house in Sketty we were talking about here a few weeks back that went for £330k (asking) quite quickly, looked like a repo. When I enquired about it, the EA said it had gone for cash at the asking and it wasn't worth me looking at it.

Dawsons have a house on, EXACTLY the same type of house, and after having a mosey around yesterday, about 10 yards away from the one above. Have a guess what it's on for..........

£420k. Yes. £420k.

There are a few in Sketty that have been on the market about a year, and haven't dropped a penny. Lots of people in denial, methinks.

Loads in Swansea West that have been on over a year.

Had a look at that house and yes it is the same style - have to laugh at the 420K price tag though don't you?

As I have said before on this site... I grew up within 5 minutes of those houses and have lived around the area for most of my life but I would not live there now if you gave me a house and paid me to live there. Too many transient people, IMPO, from students to 'others' living in the area and, IMPO, the whole area has just gone down the hole. The Uplands is, IMPO, fithy, Sketty Cross likewise, Sketty Park looks more like Penlan these days and how long before Killay shopping centre goes the same way?

For 420K I want to live in a nice area where I know my neighbours' names, they say hello to me in the morning and they don't want to mug me for drug money, damage my car or start a fight with me because they are a drug-fuelled steroid 20-something male who is off his head. Sadly, Brynmill and The Uplands, once some of the most sought-after areas to live in in Swansea, are places I would avoid now and I see Sketty as being no different. Sorry for having such a downer but the City seems to have been on a slide since 1979 and everything seems geared to bringing everything and everyone down to the lowest common denominator.

For 420K I can move to Canada or the US, buy a really nice house in a really nice area and have a great life.

Edited by The Masked Tulip

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Hi MT

Yeah, you're right, I also subscribe to moneyweek and have always been amazed at the what you get can get for your money elsewhere. Also, I have friends who live between Bristol and Bath and when I go up and visit I often have a look through their eqivalent of the property post. Again it is stark to see the quality of property you can get there for £500k+, literally small country manors!

With regard to stayng in Swansea, unfortunately my job ties me here for the moment - although I'd love to break free! Having said that I've got a soft spot for swansea and I would always like to keep a place here of some sorts. Currently I'm renting, having sold just before xmas. Hoping to ride out the HPC and pick up a family detached house in west swansea, possibly mortage free depending on the size of the crash!

DM

Many in Swansea have convinced themselves that they are living in one of the UK's prime spots. Others, sadly, have fallen for this and ended up spending vast sums on over-priced property that, no doubt, is about to tank big-time. I am utterly convinced that when the bust hits we are all going to see that Swansea housing prices were one giant smokin' mirrors act and, I suspect, a small but significant number of people have been responsible for all the ramping of prices.

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  • 399 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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