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The Masked Tulip

Quick Conversation With Swansea Ea Today

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Just posted this over on the Wales sub-forum but it is worth a quick post here also for those of you heathens on here ;)

I was talking to an EA today in Swansea and I initially got the usual bull about Swansea somehow being the centre of the Universe and different to everywhere else. He said that Swansea would be the last place to fall in the UK - now, now, stop laughing - so he obviously took me for a mug until...

I told him that that statement was b ollox and asked if any of his sellers had been reading the papers about the biggest housing crash in history just begining, banks being technically bankrupt, etc, etc, and his tone changed completely. He realised that I am not as dim as I look (Sssh!) and then spoke candidly about the situation. Anyhow, he claimed that they had sold "several" houses in Swansea West for 35% less than asking price in recent weeks.

This is what I posted over in Wales' sub-forum.

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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I am just about to start on a plate of fresh crab sandwiches, with a light side salad.

'35%....'

Your posting will make them all the more enjoyable.

'Fur coat and no knickers' describes about 80% of this country.

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Anyhow, he claimed that they had sold "several" houses in Swansea West for 35% less than asking price in recent weeks.

It just shows that the housing bubble was blown out of all propertion, the same is happening in Northern Ireland where property skyrocketed way out of whack of all fundamentals due to Buy To Let (BTL) frenzy . It just shows that this property boom was fueled the same way as the Dot.Com frenzy was fueled, its easy money. Its crashing big time and we won't see 2006/2007 prices for many years to come with huge drops in the meantime .

It seems like now alot of people have been caught with their pants down and saying "OOOOoooopppps" :lol::lol:

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It just shows that the housing bubble was blown out of all propertion, the same is happening in Northern Ireland where property skyrocketed way out of whack of all fundamentals due to Buy To Let (BTL) frenzy . It just shows that this property boom was fueled the same way as the Dot.Com frenzy was fueled, its easy money. Its crashing big time and we won't see 2006/2007 prices for many years to come with huge drops in the meantime .

It seems like now alot of people have been caught with their pants down and saying "OOOOoooopppps" :lol::lol:

Wish I'd seen that un - ready-firebombed too?

http://www.propertynews.com/brochure.php?r...amp;p=PNC322160

Edited by gruffydd

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Cardiff is crashing hard - crash crept in from all sides - Fairwater, St Mellons, the Bay. Now its in meltdown - even 'immune' Llandaff is diving.

Do you know how Cowbridge is getting on?

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Do you know how Cowbridge is getting on?

I have been watching Cowbridge closely, its my yardstick and so far its holding pretty firm, property is still selling and according to the LR the selling price is often the asking price, the best I have seen is 15% fall on a property but unfortunately it was originally £550k so sold for just under £470k.

Still 2 bed link houses and 2 bed flats selling for over £200k.

I see prices falling on average 15% here, there just is not enough properties for number of people wanting to live there, I do regular checks on right move and weekly it averages 1 property listed and majority of those are £350k plus

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Cardiff is crashing hard - crash crept in from all sides - Fairwater, St Mellons, the Bay. Now its in meltdown - even 'immune' Llandaff is diving.

Interesting! We are observing stickiness North of Cardiff (Pentyrch, etc) and a big fat dollop of stubbornness, but it won't hold up for long if the city areas are tumbling.

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I have been watching Cowbridge closely, its my yardstick and so far its holding pretty firm, property is still selling and according to the LR the selling price is often the asking price, the best I have seen is 15% fall on a property but unfortunately it was originally £550k so sold for just under £470k.

Still 2 bed link houses and 2 bed flats selling for over £200k.

I see prices falling on average 15% here, there just is not enough properties for number of people wanting to live there, I do regular checks on right move and weekly it averages 1 property listed and majority of those are £350k plus

Cheers. Its always interesting to see how these sorts of places hold up.

There hasn't been overbuilding and a huges amounts of new builds thrown up over the last few years in Cowbridge.

I do think that Cowbridge will get hurt, but alot will depend upon how hard Cardiff's economy takes a battering. Places like Cowbridge will be the barometer for how bad the crash will be.

Cardiff Bay...well that's just a disaster waiting to happen.

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Cardiff is crashing hard - crash crept in from all sides - Fairwater, St Mellons, the Bay. Now its in meltdown - even 'immune' Llandaff is diving.

My sister lives in Llandaff, and it seems an average enough area - why is/was it considered "immune"

Masked Tulip - my parents moved from Tycoch several years ago - how's it doing now?

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My sister lives in Llandaff, and it seems an average enough area - why is/was it considered "immune"

Masked Tulip - my parents moved from Tycoch several years ago - how's it doing now?

Gone a tad rough to be frank IMPO -Tycoch. Looks run-down. The shopping centre has all but closed down and so has the older school but they have built a new one there. There seems an absence of belonging I must say as if no one knows their neighbours. Prices are, IMPO, double what they should be.

A friend of mine lives there and he told me of a few roads where the houses have a big horizontal metal girder behind the brickwork of the front wall. He said that in many cases the girder is old and rusting and needs replacing now but it is a dirty, expensive job removing all the brickwork to replace the girder. He warned me not to buy a house unless they could prove the work had already been done. When I questioned EAs about this none seemed to know of this and I got the usual "I have been selling houses for years in Tycoch and this is the first time I have heard of this...". I believe my friend.

Llandaff was considered immune because for many years it felt like a country suburb on the outskirts of Cardiff whereas, now, it is a bit of a traffic nightmare. Also, you had the cathedral there, the posh private school and the BBC so, for years, you had plenty of well paid BBC types living in Llandaff sending their kids to the school and being on first name terms with the archibish.

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Gone a tad rough to be frank IMPO -Tycoch. Looks run-down. The shopping centre has all but closed down and so has the older school but they have built a new one there. There seems an absence of belonging I must say as if no one knows their neighbours. Prices are, IMPO, double what they should be.

Llandaff was considered immune because for many years it felt like a country suburb on the outskirts of Cardiff whereas, now, it is a bit of a traffic nightmare. Also, you had the cathedral there, the posh private school and the BBC so, for years, you had plenty of well paid BBC types living in Llandaff sending their kids to the school and being on first name terms with the archibish.

Thanks for all the info MT, very interesting.

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Any chance of this EA having a chat with his colleagues down in Newport?

Last offer we made (given up now and going into renting) was 240K for a house just in the market for 299K.

The EA literally snorted on the phoned and asked me if I knew what the asking price was. The answer was an immediate no.

It's obviously still on the market, along with every other property we've offered on.

In Newport they REALLY think they can turn offers down as things are definitely going to get better..

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  • 395 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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