Crash Crash Crash !!!!!!!!!!!!!!!!!!!!!!!!!!!

adr0ck

MrDT wrote: »

Similar properties in the same street:

nethouseprices.com:

8 Clarence Road,
Llandudno,
Conwy,
LL30 1TA £92,000
Flat
Leasehold
Not New Build 26-Jul-2007
Map (LL30 1TA)

8 Clarence Road,
Llandudno,
Conwy,
LL30 1TA £110,000
Flat
Leasehold
Not New Build 16-Jun-2006
Map (LL30 1TA)

84 Clarence Road,
Llandudno,
Conwy,
LL30 1TW £125,000 :eek::eek::eek:
Flat
Leasehold
Not New Build 31-Mar-2006
Map (LL30 1TW)


Harman Healy Auctioneers:

33 Clarence Road,
Llandudno,
£29,500
10-Dec-2008

Quite a substantial drop. I know the auctioned place needed tarting up, but it takes an awful lot of laminate flooring and magnolia paint to add near enough 100k of "value". Christ, double glazing and central heating would barely make a dent even.

It's interesting to note that silliest prices in the localised area were around 2006, by July 2007 (generally regarded as around about nationwide peak) the prices were a bit lower. The previous owners of number 8 must have felt sick losing 18k in one year. Wonder how the current owners feel?

I feel like a right saddo doing all this detective work on a place that I'm totally uninterested in lol... Still, it seems my estimate of peak prices being ~75k in the area was WAY out so well worth the effort.

Percentage drop from peak on a similar property (probably varying state of disrepair to consider here) - 76.4% : 125k - (125k*0.764) = 29.5k

are you actually comparing like for like properties?

MrDT

adr0ck wrote: »

are you actually comparing like for like properties?

I believe so. That's why I've omitted the "Cwrt Sant Tudno" properties listed on nethouseprices - same street, but not like for like properties. It's also why I've omitted the houses etc on the same street, detailing only the flats.

I expect the flats will all be similarly sized (pokey single bedroom type affairs) as the houses that were converted into flats will have been the same. Of course I can't be certain. I will probably be visiting Llandudno at the weekend, so out of curiosity I'll look for any obvious differences between the properties. If I haven't been comparing like for like (from what I can tell looking outside) I'll report back. Sadly there's no reference to the flat number on nethousprices, perhaps ground floor flats are one-bed, first floor two bed or something?

I did draw attention to the fact that the 29.5k flat needed tarting up, those sold a couple years back may have already been "house doctored". I can't see house doctoring a house adding nearly 100k. I don't believe that you can ever compare "like for like" perfectly as you won't know the state of the place internally/cosmetically. Personally I don't place much value on having someone else tart a place up to save me the bother. I know some people do (did?) though.

sham63

If you want to have a look at the results of recent autions in south Wales this is a good site;

http://www.rhseel.co.uk/auctions.html


By the way, are there any other sites like Harman Healy that have online catalogues for auction properties nationwide?

adr0ck

MrDT wrote: »

I believe so. That's why I've omitted the "Cwrt Sant Tudno" properties listed on nethouseprices - same street, but not like for like properties. It's also why I've omitted the houses etc on the same street, detailing only the flats.

I expect the flats will all be similarly sized (pokey single bedroom type affairs) as the houses that were converted into flats will have been the same. Of course I can't be certain. I will probably be visiting Llandudno at the weekend, so out of curiosity I'll look for any obvious differences between the properties. If I haven't been comparing like for like (from what I can tell looking outside) I'll report back. Sadly there's no reference to the flat number on nethousprices, perhaps ground floor flats are one-bed, first floor two bed or something?

I did draw attention to the fact that the 29.5k flat needed tarting up, those sold a couple years back may have already been "house doctored". I can't see house doctoring a house adding nearly 100k. I don't believe that you can ever compare "like for like" perfectly as you won't know the state of the place internally/cosmetically. Personally I don't place much value on having someone else tart a place up to save me the bother. I know some people do (did?) though.

be interesting to see what you find out MrDT

isn't there a needle exchange on that road now?

wonderman

it is great news I will be able to buy a bigger house for less money; dont understand the problem.

MrDT

adr0ck wrote: »

isn't there a needle exchange on that road now?

Nearest one I know of is at the police HQ car park in Colwyn Bay. 6 miles down the road, not quite the same street.

Man, wouldn't it suck to own "32, Cwrt Sant Tudno Clarence Road, Llandudno, Conwy, LL30 1BZ, £205,000 Flat Leasehold Not New Build 23-May-2008 Map (LL30 1BZ)" if they really had shipped all the druggies in? Be like blowing 200k on a flat in Croxteth :rotfl:

novazombie

Whats wrong with a needle exchange?

All the junkies are great tenants because the government pays their rent.

You dont have to worry about smashed windows and mold, they dont complain they like to live like that.

Techno

Can I please clear up a few misconceptions some of you have about Llandudno??!! It's primarily a tourist area with very little industry so the majority of jobs tend to be in tourism, agriculture, the public sector and small medium enterprises. The £29,500 price for a flat is very unusual and is in an old house, has only 2 rooms and is directly opposite a social housing estate and it did go to auction (probably for a reason!!). The Cwrt St Tudno is a new(ish) build and flats are mainly owned by older people who have retired to the area - many of the flats also face the sea (so more desirable). Here is a link to a local estate agents
http://www.bryan-davies-and-assoc.co.uk/ as you can see there aren't any properties under £85,000 in Llandudno for sale with this agent.

dopester

Techno wrote: »

Here is a link to a local estate agents
http://www.bryan-davies-and-assoc.co.uk/ as you can see there aren't any properties under £85,000 in Llandudno for sale with this agent.

So what?

Estate Agents only show asking prices, and Llandudno EAs don't seem to have people rushing in to buy at those crazy asking prices.

16th January 2009.

A WELSH university town is the worst place to sell a house in the UK, according to a website poll.

Aberystwyth topped a poll by home.co.uk of the slowest places to sell in Britain with properties taking nearly a year to be snapped up.

According to the site it takes on average 314 days to sell a property in the town, while other parts of Wales fared only marginally better. Both Deganwy and Llandudno, North Wales, polled as the fourth and fifth slowest places to sell respectively.

http://www.walesonline.co.uk/news/wales-news/2009/01/16/aberystwyth-house-sales-slowest-in-uk-91466-22705608/

MrDT

Techno wrote: »

Can I please clear up a few misconceptions some of you have about Llandudno??!!

Sure, since I live in the area I guess you don't mean me though?

Techno wrote: »

It's primarily a tourist area with very little industry so the majority of jobs tend to be in tourism, agriculture, the public sector and small medium enterprises.

Agreed.

Techno wrote: »

The £29,500 price for a flat is very unusual and is in an old house, has only 2 rooms and is directly opposite a social housing estate and it did go to auction (probably for a reason!!).

It is unusual in so far as not many owners are forced into selling at this price level yet. It will be less and less unusual as time goes by.

I expect the other flats I listed to be of similar size (though varying states of disrepair). I believe the social housing estate was there in 2006 and 2007 too, so what's your point?

The property sold at auction - probably for a reason. Yeah, reason being the owner/lender needed shot of it, and realised that to get a sale round there you have to face the "real" market at auction, not fanny around with head in the clouds EAs. See dopesters point above, see PasturesNew's thread here - http://forums.moneysavingexpert.com/showthread.html?t=1420643 Why are transaction levels so low? Because asking prices are in cloud cuckoo land

Techno wrote: »

The Cwrt St Tudno is a new(ish) build and flats are mainly owned by older people who have retired to the area - many of the flats also face the sea (so more desirable).

Thanks, that's why I omitted them from my comparisons ten posts up ^^.

I only mentioned the 200k Sant Tudno flats in response to adr0cks question regarding a needle exchange having been opened on the same street. I'd be well !!!!ed off if I blew that kind of money on a flat and they then started shipping in the junkies. Obviously it's neither here nor there, as the needle exchange (as far as I know anyway) doesn't exist. I believe adr0ck was just trying to discredit the price drop on grounds of the area having "gone to the dogs" since 2006. Either that, or he made a genuine mistake. Or maybe I did? Can you tell us if it's a particularly bad area? I'm pretty damn sure it isn't, but some more local knowledge would be great

Techno wrote: »

Here is a link to a local estate agents
http://www.bryan-davies-and-assoc.co.uk/ as you can see there aren't any properties under £85,000 in Llandudno for sale with this agent.

There are no asking prices below 85k with that agent. So what? The houses are still on the market, what does this tell you? Dopester's post above, what does that tell you? PasturesNew's linked topic, what does that tell you?

Asking prices could be a trillion pounds if the vendors like. Asking prices are meaningless now.

The fact that houses aren't selling should tell you that currecnt asking prices are too high. It should also tell you something when !!!!!! flats sell for sub 30k at auction. That's all the place was worth, if it was worth more somebody would have chucked in a higher bid before the gabble fell.