Property Auctions In Cardiff, Wales
An extremely popular centre for tourism, Cardiff has a selection of quality properties for sale which range from high end expensive houses to smaller and more modestly priced homes.
If you are interested in buying or browsing at property auctions in Cardiff, this article will help you understand the local property market and how to grab yourself a bargain property.
Property Prices In Cardiff, Wales
Property prices in Cardiff rose by 5% in the last year and the average price currently stands at £245,788. Terraced homes in Cardiff sold for an average of £217,150 and flats averaged at £156,530.
These prices are for normal house sales in Cardiff, such as via the regular property market channels like estate agents or solicitors. The average price of properties sold at property auctions in Cardiff is around 20% lower.
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Property Bargains 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 1980’s 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 and areas nearby where you can find bargains at property auctions in Cardiff.
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Property In Tongwynlais (CF15)
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 in and around Tongwynlais. The demand for properties makes prices a little higher, so you should expect to see a property guide price of £190,000 for a large 2-bedroom terrace and £225,000 for a 3-bedroom semi-detached house in Tongwynlais.
Property Sales In Lisvane (CF14)
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. Property auctions in Cardiff often feature houses for sale in the Lisvane area.
Grangetown Property For Sale (CF11)
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 of Cardiff. 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.
Any property in Grangetown that appears at property auctions in Cardiff often has multiple bidders and the final sale price at auction often exceeds the property guide price by twenty or thirty percent.
If attending property auctions in cardiff, it is important not to get carried away. Stay within your budget and never bid on a property on a whim.
Houses in Adamsdown (CF10)
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 in Adamsdown but there are still traditional property bargains that represent good value for money.
A 1-bedroom flat in need of upgrading and renovation 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.
Property In Cyncoed (CF23)
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 property for sale at local auctions.
Post war buildings are in good supply with some detached and semi-detached homes situated on housing estates. Prices for property in Cyncoed are higher than average but you can still get a large 3-bedroom terraced house with garden for about £150,000.
Cardiff Property Auctions FAQ
How Can I Find property Auctions In Cardiff?
There are many property auctions in Cardiff which deal with houses, flats and commercial properties on a regular basis. The best thing to do is register with a local property auction house and if possible, join their email list in order to be notified about future property auctions in the Cardiff area.
How Much Are Properties Sold In Cardiff Auctions?
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 property auctions in Cardiff for over £350,000.
Which Areas Are Best To Find Bargain Properties In Cardiff?
Adamsdown has some cheaper bargain 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 Property 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 or national finance companies. Some repossessed properties are also advertised on specialist auction and estate agent websites.
Repossessed Houses For Sale In Cardiff
One of the things you may notice when visiting a property auction in this part of Wales is repossessed houses for sale in Cardiff. Sometimes, when houses are repossessed by a bank or another type of lender, the properties are put up for auction.
Bidding and buying repossessed houses for sale in Cardiff can afford a good opportunity to not only acquire a bargain property in Cardiff, but to gain a good investment opportunity. This is because repossessed property in Cardiff often sells for around 25-30% less than the normal market value of the property.
This is especially true with houses and flats which require renovation work and it is one of the best ways to buy cheap houses in Wales. Remember to visit the Cardiff auction house of your choice on multiple occasions. The lots change every session and something may appear at the auction this coming week which was not listed the week before.
Types Of Property For Sale In Cardiff
Property auctions in Cardiff vary greatly with some unusual residential properties as well traditional homes for sale. There are also 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 properties at auction in Cardiff. 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 Cardiff city centre can provide an income of between £15 and £18 per square foot.
Residential Property Auctions 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 Renovation Properties In Cardiff
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 1980’s. However, a minimum opening bid for a 3-bedroom terrace can start as low as £17,000.
Conclusion: Buying Property 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 property sales in Cardiff property auctions 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.
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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.