TheRegions
Regional round-up
Each month we visit three agents across the country to discover what’s happening in their business and local market. This month we’re in North Kent, Wales and West Yorkshire.
Tony Filice, Director, Kelvin Francis Cardiff , Wales
Wales’ capital is a cosmopolitan city with a population of 320,000 inhabitants, mostly within three miles of the Centre. The majority of activity in
Cardiff is for houses up to £500,000; we are seeing a slight improvement in the next level up from this and also for country houses as we enter spring. The most popular house type
in demand in Cardiff is the traditional three bedroom semi- detached, where the average house price twelve months ago was £250,000, but with increased demand and shortage of supply
26 ● June 2012 ● TheNegotiator
is now closer to £270,000. First time buyers in Cardiff need to spend £120,000 to £145,000 for a two bedroom property. These are also in short supply and are probably £10,000 more than they were a year ago. This is largely due to these properties being targeted by landlords, who have been purchasing in strength, as rental yields have increased over the last twelve months. Cardiff is experiencing a
renaissance, pushed by the St David’s Shopping Centre combined with the rejuvenation
of the old docks with the Coral Shipping Arena - now a majestic waterfront with chic restaurants, theatres, and marina and yachting activities. All of this has encouraged developers to build apartments and buy to let landlords are keen to capitalise on a healthy rental market. On the negative side, with the
cuts, many of the public sector workers in the capital (more than 30 per cent of the workforce) are either staying put or, as with the NHS (University Hospital), have no choice but to rent, as they are on rolling contracts.
www.the-negotiator.co.uk
Cardiff
Average Sales price: £262,188 Average fees: Sales 1.2% Managed Lettings: 10%
Price reductions: 10% from sales stock, equating to 5% per property
Sales: 218 viewings Rentals: 56 viewings
Number of sales/tenancies agreed: 13 sales & 10 lets
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