Table of Contents
- Auction Properties In Cardiff
- Property Prices In Cardiff, Wales
- Where Should You Look For Auction Properties In Cardiff?
- Auction Properties in Cardiff FAQ
- What Type Of Auction Property In Cardiff Should You Look For?
- Five Reasons To Buy Auction Properties In Cardiff
- Conclusion about buying auction properties in Cardiff
Auction Properties In Cardiff
Buying Auction Properties In Cardiff
Investing in a progressive capital city can be very worthwhile so buying auction properties in Cardiff is a good prospect. Cardiff is the base for the devolved Welsh parliament and is also the chief commercial centre in Wales. An extremely popular centre for tourism, Cardiff has a selection of properties which range from high end expensive houses to smaller and more modestly priced homes. If you are interested in buying auction properties in Cardiff, this article will help by providing information about how to go about it.
Property Prices In Cardiff, Wales
Property prices in Cardiff change each year and the annual price rise for an average house in the UK stood at 2.1% in March 2020. In Wales the rise was slightly lower at 1.1% making the average property value £161,684.
As Cardiff is a capital city the cost for buying a property is higher than the average. Property prices in Cardiff rose by 5% in the last year and the average price currently stands at £245,788. Terraced homes sold for an average of £217,150 and flats averaged at £156,530.
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Where Should You Look For Auction Properties In Cardiff?
Cardiff holds 10% of the Welsh population and has a wide built up area with many residential developments. Redevelopment that began in the 1980s has made the city very attractive to investors and to people moving to Wales. However, not everyone wants or can afford to buy a property in the exclusive waterfront at Cardiff Bay so let’s look at some other parts of the city where you can find auction properties in Cardiff.
The village of Tongwynlais lies to the north of Cardiff and has a landmark castle. Close to junction 32 of the M4, the village is well placed for commuters and travellers to the South Wales valleys. Tongwynlais is surrounded by a beautiful forest and is home to a pub, a golf course and some shops. There are stone terraced houses, detached character homes and larger executive houses. The demand for properties makes prices a little higher. Expect to see a guide price of £190,000 for a large 2-bedroom terrace and £225,000 for a 3-bedroom semi.
Situated 5 miles north of the city is Lisvane a more affluent area of Cardiff. Lisvane has a primary school, a pub, a local shop and a community centre. The close proximity to Cardiff makes this an ideal village to live whilst commuting to the city. A 4-bedroom detached house in Lisvane can cost around £480,000 and a 2-bedroom terraced house is around £195,000. Auction properties will be advertised at lower starting prices.
One of the largest districts around Cardiff is Grangetown. This is close to Cardiff Bay and has recently seen a big improvement in infrastructure. The railway has services to Cardiff Central and to Bridgend. There are excellent bus services and the A4160 goes directly to the centre. There are some development opportunities with a 1-bedroom flat attracting a guide price of just £85,000 and a 2-bedroom apartment priced around £115,000.
Adamsdown is only a 10 minute walk from the city centre. Although largely residential, it is close to shops and the University of South Wales. Regeneration saw the demolishing of a lot of Victorian villas but there are still traditional properties that represent value for money. A 1-bedroom flat in need of upgrading can be found at auction for a starting price of £54,000. A large Victorian 3-bedroom terraced house can cost upwards of £280,000.
To the north east of Cardiff and a short walk to Roath Park is Cyncoed. Good transport links by bus and rail make this an attractive place to buy. Post war buildings are in good supply with some detached and semi-detached homes situated on housing estates. Prices are higher than average but you can still get a large 3-bedroom terraced house with garden for about £150,000.
Auction Properties in Cardiff FAQ
How Can I Find Auction Properties In Cardiff?
Wales has many businesses that have auction properties in Cardiff registered on their books. Check out websites for the latest sales and for details of upcoming auctions. Other information can be found in local newspapers and estate agents.
How Much Are Auction Properties In Cardiff?
The price of auction properties in Cardiff varies according to the location and state of the property. Typically, guide prices can start as low as £17,000 for a terraced house but a low price might mean that the property needs considerable renovation. Alternatively some houses sell at auction in Cardiff for over £350,000.
Which Areas Are Best To Find Auction Properties In Cardiff?
Adamsdown has some cheaper auction properties than those in Cardiff city centre. Other areas to consider are Grangetown and Lisvane where prices are more modest than those in Cardiff Bay or the centre. You can also look at nearby towns and villages that have cheaper properties but are within easy reach of Cardiff.
Can I Buy Repossessed Properties At Auction In Cardiff?
Repossessed properties in Cardiff are available at lower prices than those advertised by estate agents. You will find lists of repossessed properties advertised by banks and local/national finance companies. Some repossessed properties are also advertised on specialist auction and estate agent websites.
What Type Of Auction Property In Cardiff Should You Look For?
Auction properties in Cardiff vary with some unusual residential types as well traditional homes. There are choices for commercial properties that include retail shops, offices, blocks of flats and industrial units.
Commercial Properties For Auction In Cardiff
Cardiff has many opportunities for investors who want to buy commercial auction properties. Whether you prefer a shop that has potential for a change of business or are looking for an established business you will have a lot of choice. Investing in office space in the city centre can provide an income of between £15 and £18 per square foot. The guide price for an established hairdressers can start from £109,000 plus auction fees.
Residential Auction Property In Cardiff
Residential auction properties in Cardiff include houses and flats both large and small. Some areas are excellent prospects for investors with guide prices for a mid-terrace house starting at around £20,000. A modern ground floor apartment close to Cardiff Bay can start at £80,000 and there are many other types of residential auction properties on offer.
Derelict Or Development Auction Properties In Cardiff
Auction properties that require substantial renovation can be a good investment as long as you are aware of the extent of the work needed. Often advertised as property with potential, derelict or development auction properties in Cardiff are in short supply due to the extensive regeneration projects that have been undertaken since the 1980s. However, a minimum opening bid for a 3-bedroom terrace can start as low as £17,000.
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Five Reasons To Buy Auction Properties In Cardiff
1. Cardiff Is A Well Connected European Hub
Cardiff is one of the top five cities for business growth and is well connected to the UK and Europe. Employment is growing with many younger people attracted by the expanding digital economy. Cardiff International airport has direct routes to Europe as well as some parts of the world that are farther afield. Visitors to Wales from the UK have increased since the scrapping of the Severn Toll and house prices in Wales are predicted to outgrow those in the UK in the next 5 years.
2. Cardiff Is A City Of Students
Cardiff has a large population of students and is easy to get around. This makes it an ideal place to invest in auction property which can bring in student rental income. A 1-bedroom apartment can command a rent of between £550 and £700 per month. There are green open spaces in the city and it is close to the coast and the countryside.
3. An Innovative And Creative City
Creativity abounds in Cardiff and it is one of the most innovative places in the world. The university, local council and the Welsh government are behind the Creative Cardiff project which is having an impact on the artistic and cultural life of the city. One of the most affordable cities for property investment, Cardiff is also a cultural hotspot as well as being a centre for sport.
4. Heritage History And Culture In Cardiff
Whether you prefer the castle, the Millennium stadium or Roath Park, you will never be short of something new to experience in Cardiff. The music scene consolidates Wales as the ‘land of song’. There are plenty of museums celebrating Welsh culture. The open air St Fagan’s National Museum of History is a leading European venue that is visited by thousands each year.
5. Cardiff Is An Affordable And Compact City
One of the most important reasons to buy auction properties in Cardiff is the affordability factor. Rents in the city are around 20% cheaper than in a city like London and the compact nature of Cardiff makes it easy to get around. Excellent transport links are also attracting property investors as is the cost of living which is lower than other areas in the UK.
Conclusion about buying auction properties in Cardiff
Cardiff is a large city and therefore offers many property investment opportunities, both within the city itself and in surrounding towns and villages. One of the most popular types of auction properties in Cardiff is one or two bedroom flats within walking distance of the city centre or the university. Looking slightly further out in the more residential areas of Cardiff is likely to result in a better property price.
Grangetown and Adamsdown are two very competitive areas in Cardiff property auctions whereas living outside of town in a place such as Lisvane, only seven miles outside Cardiff, could mean buying a whole house for the same price as a flat in Cardiff city centre. It is worth remembering that property auctions in Cardiff are very busy and can often get heated, so be prepared and stay within your budget.