I don't know if this is news or not but I thought it was interesting. Obvious BTL, rightmove says bought in 2007 for £124,000, put on market November for £107,900 (or something like that), reduced yesterday to £99,000. Seems a big deal to me given that it's been reduced after just 6 weeks.

Interesting in the blurb it says 'great investment' hahaha.

A lot of the threads on the site naturally look at the more expensive parts of the UK - top of the market collapses first and all that - but I thought I'd start a thread looking at how some of the cheaper properties are getting on. Hopefully it'll get a bit of discussion around the south Wales market going.

First up - interior design suggests probate sale and a drastic price cut (albeit now going to auction with the hope of beating the guide) indicating a keenness to sell.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^968&radius=10.0&sortType=1&index=24&includeSSTC=false

12/09/2016 £59,000

20/12/2016 £36,000 (-38.98%)

Set to go to auction 22 Feb 2017. Will it sell?

Will add some more of these over time.

I was down in Swansea last week and took the opportunity to look at a few properties in Swansea West (TMT's bugbear lol) but found many of them to be grossly overpriced,usually at 2007 levels. I could easily buy a 4 bedder in good decorative order in the affluent West Sussex commuter town in live in for that price! Although I have no way of checking what these sort of houses were asking prior to the crash but it looked like many have been on the market for over 6-18 months and were asking well over the highest prices ever achieved on their respective streets.

It looks like I am getting to that RB moment where constant nagging by Mrs TW may soon overwhelm me so I would be grateful for advice from those in the know on the following-

1)What is the state of the market in Swansea, particularly with reference to 4+bedders in good areas?

2) Since asking prices are for most part delusional, what sort of offers are currently being seriously entertained by vendors? Are EAs actively encouraging sellers to be more realistic with pricing? I recall TMT mentioning that his friends recently had offers 20% below accepted. Is that the case across the board i.e with pricier properties as well? Or are these limited to distress sales associated with death/divorce/repos?

Thanks

Now every decent house I go for I'm being out bidded by people from Bristol.

EA valuers see this as their ideal opportunity to put what previously were only a 3 months ago £115k properties on the market for £135-£140k.

Seems that Bristol people are aware of Newport now and I've been in several bidding wars on properties that are barely worth £115k but am being told that Bristol people have offered 20% more than guide price.

Anyone else out there since this? I've pulled out now having offered guide price because otherwise it'll inflate the market still further but it is clear that things are flying off the shelves.

Myself and my partner have heeded the good advice from HPC and put off buying for a while, at least until the summer / autumn.

I'm looking for some help from people living / have lived in South Wales..

We both work in Cardiff (pretty central) and though I have lived here all my life I think that the areas we want to live in are just way overpriced.

I've started to look a bit outside, specifically Pontyclun, Pontypridd and Pecoed given the easy access to the train and good value house prices. We're looking for 3 bed with the view to set up a family in a year or two. I don't want a massive mortgage hanging round our necks and these places may offer that opportunity..

Anyone with any thoughts on these areas? Any help hugely appreciated

http://www.zoopla.co.uk/for-sale/details/40201383

A dilapidated beach hut on a north Wales beach has sold at auction for an eye-watering £153,000.

The wooden building is at Abersoch on the Llŷn Peninsula in Gwynedd.

Measuring just 13ft by 9ft, it has no electricity or water - and you are banned from sleeping in it overnight.

For the same price just a few miles away you could snap-up a two-bedroom house in the village of Llanbedrog - or even a seven-bedroom terraced house at Tywyn across Cardigan Bay.

"It's certainly the highest price ever achieved for a beach hut in Abersoch," remarked Tony Webber, auction surveyor at Beresford Adams Countrywide Auctions.

"It's quite incredible. We had two very determined bidders, both from the Cheshire area, who were bidding separately. They were very determined to buy it."

The auctioneers said the hut is "in need of some TLC" - but does include part of the beach in front of the hut into the sea.

The previous record for the beach huts on the Abersoch sands was £70,000 in 2008.

Oh come on now this is jut getting farcical!

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=BRANCH^58239&sortType=6&numberOfPropertiesPerPage=20

Looks to me at least like a LL is off-loading their portfolio.

That's two fewer than H1 2011.

So how many million pound+ homes are advertised for sale in Wales at the moment on Rightmove?

216

Yep, that's right, two hundred and sixteen.

And in case you're thinking that maybe many sales go through at just below one million to avoid some stamp duty...well, in the same six months only 30 properties sold between 700K and one million in Wales, and as you'd expect, most of those were at the lower end of that range.

Still, I'm sure many vendors will be happy to wait until they can sell their house for what it's truly 'worth'. No point in reducing the price below 'market value' is there?

This time next year, Rhydwyn...

Thanks - as ever I'm grateful for your insights.

I have had enough....of Wales, of Swansea, of the government of.....well, just about everything....

I don't want to deal with EAs or people looking around the place and the rest of it.

In other words:

I know, I will lose a lot of money but can anyone give me links to these "we'll rip you off and make you feel good about it" companies? There is an ad for one of these companies in this Friday advertiser you can pick up at e.g. Tesco's....are there others?

Even one or two, you could "recommend"?

I don't want to start a looooong thread, hence PM may be the best option.

No, I'm not in a hurry, simply fed up...

(and dead serious, not midlife crisis or bipolar low!!)

Sorry, doesn't sound nice or positive but plain honest.

Jule

Not since the budget, in fact been trying to sell for a year and a half. Price has come down a bit, too.

First listed
£920,000 on 21st Jan 2014

http://www.zoopla.co.uk/for-sale/details/35578061?utm_source=nest&utm_medium=feeds#GoFoSsl7GoA3oVKw.97

http://www.rightmove.co.uk/new-homes-for-sale/property-45809122.html

New build, first sold Nov 2013 for £450k, now on the market for £580k asking price. It's been on the market for a month now..any bets on how long until the first price cut?

Started at £1,250,00 in Aug 2010. Now offers over £695k. So asking price down by about 44% ... so far? (Too remote and too expensive to heat by the look of it?)

Full story:

http://www.southwales-eveningpost.co.uk/Fraudsters-guilty-complex-financial-Swansea-South/story-25728989-detail/story.html

I think I will go down and watch the sentencing tomorrow. I might even 'tweet' from the courtroom as is my right.

Though interestingly the data they present show a 4.1% drop since the beginning of the year! Are people really that stupid that they can't read?

http://www.thisissouthwales.co.uk/Mumbles-needs-food-bank/story-18595054-detail/story.html#ixzz2POVoMYI1

HARD-UP people in one of Swansea's most affluent areas have been given emergency packages from a local food bank.

Mumbles, where average house prices are not far off £250,000 and rental accommodation does not come cheap, has had a food bank based in the village since October last year.

The registration/landlord licensing is interesting. I assume it'll make BTL less attractive and with a central register it's very difficult to avoid tax. There's also a "fit and proper" test for landlords who self-manage which I think is quite reasonable - after all why should a convicted fraudster be able to let property to you?

http://www.senedd.assemblywales.org/mgIssueHistoryHome.aspx?IId=8220

We told the buyer the builder could start work next week, would be finished in a week, and we would pay. But he pulled out, telling estate agents the whole roof needed replacing!? This, after we'd taken all furniture to clearance for him, as he asked, while leaving a few items he wanted - fridge freezer, washing machine etc. So now, when my sister goes over to stay - she lives much nearer than I do stuck in London - she'll have nothing to sit on.

Our builder, who's a star, always put the heating on in the house over the winter very low, but obviously not enough to stop deterioration of roof. Well, we're now going to make good, so that any other surveys will reveal no surprises.

Sigh. Some people.

This little ill-formed monster sits near Milford Haven has been lingering since last April. The price has zipped up and down, up and down, but clearly they've had no takers yet. The bizarre asymetric structure won't be to everybody's taste, and when you look at the history you can see it was bought in 2004 for £83k but they marketed it at £180k!

Sheer greed, or rank stupidity? Do you think they've mewed the extra £100k, or do they think they deserve it?

http://www.dailymail.co.uk/news/article-2551620/Pray-quick-sale-Homeowners-offer-1-000-reward-helps-sell-199-000-chapel-Twitter-Facebook.html

Where's the problem? Knock off 50-100K and the holy grail will be gone!

I'd love to buy a chapel and convert it. Not to a home to live in but a concert venue.

Only, most chapels in this country seem to be blessed with price tags completely out of this world.

Jule