So, What Now For Welsh House Prices

[The Masked Tulip]

Tory Govt in London - what now for Wales let alone Welsh house prices?

We might get our HPC but might end up not wanting to live here anymore.

[dremmler]

Tory Govt in London - what now for Wales let alone Welsh house prices?

We might get our HPC but might end up not wanting to live here anymore.

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You've been looking forward to savage cuts in front line public services for ages now and now you've got your wish- so I think you should stay in Wales.

[The Masked Tulip]

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You've been looking forward to savage cuts in front line public services for ages now and now you've got your wish- so I think you should stay in Wales.

I had a dremmler drill once - made an annoying noise.

I have not been looking forward to - saying it was needed, saying it was inevitable is not the same as looking foward to it.

I think it is a tragedy that the Welsh are seen by the English as a poor, ignorant colony to be controlled and manipulated. The Welsh economy is kept, IMPO, deliberately public sector dependent because we mustn't get ideas above our station must we?

[marty]

I had a dremmler drill once - made an annoying noise.

I have not been looking forward to - saying it was needed, saying it was inevitable is not the same as looking foward to it.

I think it is a tragedy that the Welsh are seen by the English as a poor, ignorant colony to be controlled and manipulated. The Welsh economy is kept, IMPO, deliberately public sector dependent because we mustn't get ideas above our station must we?

Everything we have been saying on this forum re the housing market will now come to be.

Maybe it's a good thing, teach us not to vote for people like the orange Hain. Lets be fair anyone who voted for that tangerine refugee from Swaziland deserves a housing crash.

Edited May 11, 2010 by marty

[carrera]

Everything we have been saying on this forum re the housing market will now come to be.

Maybe it's a good thing, teach us not to vote for people like the orange Hain. Lets be fair anyone who voted for that tangerine refugee from Swaziland deserves a housing crash.

I know TMT has see a lot of market activity in Swansea - but from Bridgend to Cardiff - the market is dropping or stagnant and has been for some time. When people offer "part rexchange" or stamp duty paid - the writing is on the wall IMPO. I see that a few developers have gone through in Swansea - quite liked those London and Oriental Homes, just way overpriced ... have had a look at the sold prices for some of their developments and a lot of people paid WELL over the odds ..consequently the "last ones in" in one case paid nearly 180 to 200k less for the same house ! Insane in my view but characteristic of either how stupid or ill informed a lot of people are when it comes to buying houses. Given all the tools available to buyers via the net, there is no excuse for a buyer not being more informed that the estate agent!!

But I digress, sentiment has definitely changed - my line of works sees me dealing with insolvencies - and times are good from my perspective .. banks making use of the "sentiment" to forclose and sell off assets.

I always hark back to the speech Kenneth Clarke gave at Christmas at the business lunch thingy ... South Wales has become too over reliant on the public sector and when the cuts come it could have a significant impact on the local economy. Its almost deja vu ... just need an interest rate rise now and i`ll be back in the 1990's ... justb a bit wiser this time around (well I hope anyway!)

[Mal Volio]

I know TMT has see a lot of market activity in Swansea - but from Bridgend to Cardiff - the market is dropping or stagnant and has been for some time.

And North/East of Newport too

I read TMT's accounts of houses selling in Abertawe, but it's very different here.

[The Masked Tulip]

Good to hear your views people.

To be frank, I think the good old-fashioned Swansea snobbery is the major factor in what is going on now. Yes, there are English people buying here, or Welshies who are returning from London, but I honestly cannot see why you would want to buy in Swansea - somewhere like the Mumbles which, to be blunt, is run-down, congested and dirty.

For the money you can get much - i.e. the same price - you can get much prettier and better housing in prettier and easier to get to parts of the UK.

I am still convinced that when it turns bad in S'sea it will be like the 1980s and you might not wish to buy here then - there will be no work.

Anyhow, good to hear views from elsewhere as it is encouraging.

Oh, I think a lot of EA ramping, IMPO, is still going on in S'sea and lots appear to be falling for it.

[swa]

seems to be a few new places opening in swansea

dawsons at meridian quay just behind the marriott

simpsons at sketty cross just up from tesco

swansea building society in the mumbles by the welsh spoon

[Mr. Miyagi]

TMT, I have a colleague who is desperate to move to Swansea on a full time basis, absolutely loves the place. She currently has 2 properties there and a third in Newport, but she needs to sell 2, to be able to afford a decent family house in a decent area, 250k doesn't seem to get you a lot. She also has the CGT at 40% to deal with if she can't offload them quickly.

Personally I really can't see the attraction with the place I have occasion to visit Swansea on business I find the place drab, dirty and generally rundown.

Anecdotally I my part of SE Wales the crash is coming along nicely with up to 25% drops not uncommon.

Newport is heading for a big crash, there is 3 large developments currently in progress and a pretty stagnant market, I really can't see who will be buying in the future, you definitely would not want to re-locate there it's a awful place and the industry has been slowly ebbing away for the last 10 years . As with Swansea, Newport has a heavy reliance on public sector employment which we all know has to come to an end.

[The Masked Tulip]

TMT, I have a colleague who is desperate to move to Swansea on a full time basis, absolutely loves the place. She currently has 2 properties there and a third in Newport, but she needs to sell 2, to be able to afford a decent family house in a decent area, 250k doesn't seem to get you a lot. She also has the CGT at 40% to deal with if she can't offload them quickly.

Personally I really can't see the attraction with the place I have occasion to visit Swansea on business I find the place drab, dirty and generally rundown.

Anecdotally I my part of SE Wales the crash is coming along nicely with up to 25% drops not uncommon.

Newport is heading for a big crash, there is 3 large developments currently in progress and a pretty stagnant market, I really can't see who will be buying in the future, you definitely would not want to re-locate there it's a awful place and the industry has been slowly ebbing away for the last 10 years . As with Swansea, Newport has a heavy reliance on public sector employment which we all know has to come to an end.

Thanks for the insight. I appreciate it.

I too agree that large parts of S'sea are dirty, drab and generally run-down. If this is what 13 years of the biggest boom brings you what will the bigger cuts than the 1980s bring. It does not bode well.

I think it is the beach lifestyle, the short-wearing, pretty relaxed almost hippyish thing that most peple go for. I know that sounds ridiculous but there you go.

Bottom line, S'sea cannot escape the coming public sector pain and if house prices keeping on rising as they do it will soon be cheaper to buy a house in London.

[niceathome]

Thanks for the insight. I appreciate it.

I too agree that large parts of S'sea are dirty, drab and generally run-down. If this is what 13 years of the biggest boom brings you what will the bigger cuts than the 1980s bring. It does not bode well.

I think it is the beach lifestyle, the short-wearing, pretty relaxed almost hippyish thing that most peple go for. I know that sounds ridiculous but there you go.

Bottom line, S'sea cannot escape the coming public sector pain and if house prices keeping on rising as they do it will soon be cheaper to buy a house in London.

[niceathome]

Would you like to explain what is so ridiculous about a short-wearing, pretty relaxed almost hippyish lifestyle please?

I'm only asking because I simply don't see why you would find this such a bad outcome.

[The Masked Tulip]

Would you like to explain what is so ridiculous about a short-wearing, pretty relaxed almost hippyish lifestyle please?

I'm only asking because I simply don't see why you would find this such a bad outcome.

Who said it was ridiculous?

[niceathome]

Have a look at post #11. Do try and keep up.

[The Masked Tulip]

Have a look at post #11. Do try and keep up.

Yeah, what is the problem?

[marty]

Yeah, what is the problem?

The housing association have taken 6 floors of the tower. One of the lifts this morning had been dumped in overnight.

Lovely!!!

[swa]

Personally I really can't see the attraction with the place I have occasion to visit Swansea on business I find the place drab, dirty and generally rundown.

why would anyone want to live in swansea when it's just been awarded five blue flag beaches and places like rotherslade,pennard, reynoldston and rhossilli are just the pits aren't they !

some :one from newport calling swansea a dump

Edited May 22, 2010 by swa

[The Masked Tulip]

why would anyone want to live in swansea when it's just been awarded five blue flag beaches and places like rotherslade,pennard, reynoldston and rhossilli are just the pits aren't they !

some :one from newport calling swansea a dump

To be fair, the city centre is a pig-sty. I was sitting in Mumbles this week outside the Post Office, looked around and the road was filthy, loads of alleys at the sides of shops which were disgusting filled with all sorts of yucky stuff - in a so-called seaside resort.

[The Masked Tulip]

The housing association have taken 6 floors of the tower. One of the lifts this morning had been dumped in overnight.

Lovely!!!

Which HA - Swansea Housing Assoc? Gwalia?

[Shunnyonions]

The housing association have taken 6 floors of the tower. One of the lifts this morning had been dumped in overnight.

Lovely!!!

This is the new tower, right ?

Where did you get this information from ?

[Mr. Miyagi]

why would anyone want to live in swansea when it's just been awarded five blue flag beaches and places like rotherslade,pennard, reynoldston and rhossilli are just the pits aren't they !

some :one from newport calling swansea a dump

I was referring to the city centre. I don't live in Newport

[carrera]

This is the new tower, right ?

Where did you get this information from ?

This would be the first I have heard of it - and my contacts are pretty up to date ... any more news on this? Would be catastrophic for resales at the tower. They can't rent them as it is!

[The Masked Tulip]

This would be the first I have heard of it - and my contacts are pretty up to date ... any more news on this? Would be catastrophic for resales at the tower. They can't rent them as it is!

Why can't they rent them - glut of property to rent in Swansea?

I had a walk along Walters Road today and was shocked by how many houses there are to rent in Swansea, especially in Swansea West. When I was looking to rent a few years back I literally had to beat a couple to the letting agent in order to get the house before they did - that was how little there was to rent back then.

As for Marty's housing assoc story - I think he is pulling our legs... would be wonderful if true though.

[carrera]

Why can't they rent them - glut of property to rent in Swansea?

I had a walk along Walters Road today and was shocked by how many houses there are to rent in Swansea, especially in Swansea West. When I was looking to rent a few years back I literally had to beat a couple to the letting agent in order to get the house before they did - that was how little there was to rent back then.

As for Marty's housing assoc story - I think he is pulling our legs... would be wonderful if true though.

The rent the BTL brigade want relative to what they can get (I am guessing the management fees have something to do with it) is at somewhat of a disparity. Prices have taken a big hit - and I understand that one or two have been repossessed ... but I have not seen one myself. But I have seen several repos on the marina as a whole.

I heard some guy from Llanelli bought a few of the more expensive ones ... he has done quite well out of mobiles from what I gather ... but it looks to me like most of the "more expensive" flats remain vacant still and unlet. Just more of these nasty "rumours" again I guess !

[Swansea Estate Agent]

The rent the BTL brigade want relative to what they can get (I am guessing the management fees have something to do with it) is at somewhat of a disparity. Prices have taken a big hit - and I understand that one or two have been repossessed ... but I have not seen one myself. But I have seen several repos on the marina as a whole.

I heard some guy from Llanelli bought a few of the more expensive ones ... he has done quite well out of mobiles from what I gather ... but it looks to me like most of the "more expensive" flats remain vacant still and unlet. Just more of these nasty "rumours" again I guess !

I've still been unable to gain any instructions for the tower, so I am unable to help although there are plenty of available apartments to rent in Swansea. However, everytime I do take an instruction I have several tenants waiting and let them within days.

Now that I have opened the shop on Mansel Street we are swamped with overseas students with budgets of over £1,000 pcm and are all looking to live in the Marina. Problem is many landlords will not accept them. No doubt they will after months of void periods.

@ Marty