Table of Contents
- Auction Properties In North Wales
- Property Prices In North Wales
- Where Should You Look For Auction Properties In North Wales?
- What Types Of Auction Properties In North Wales Are Available?
- Auction Properties in North Wales FAQ
- Five Reasons To Buy Auction Properties In North Wales
- Some Final Thoughts About Buying Auction Properties In North Wales
Auction Properties In North Wales
Buying Auction Properties In North Wales
The rich history, culture and the low population density has made buying auction properties in North Wales a strong draw for anyone wishing to relocate. The competitive prices for homes in this region as well as the attraction of national parks, mountains and superb coastline is another factor for those seeking out their dream home. Homes suitable for singles, couples and families can be found in this panoramic location and this makes buying auction properties in North Wales an excellent prospect.
Property Prices In North Wales
Average house prices in North Wales are currently £186,513 and this is an increase of 3% since 2019. Detached homes sell for around £249,000 and a semi-detached property will attract a price of around £158,000. You can buy a terraced property for circa £128,000. Property prices in North Wales have held up well compared to other parts of the UK.
Where Should You Look For Auction Properties In North Wales?
North Wales has something for everyone and two out of the three UNESCO World Heritage Sites in Wales are found in the North. From small cosy 1-bedroom flats through to grand mansions with large gardens, you can find an array of auction properties in North Wales. Each part of the region has attractions and it will depend upon your personal preferences and your budget where you decide to look. Below are some of the areas where you could consider searching for auction properties in North Wales.
Wrexham is the largest town in North Wales with a population of over 65,000. The town has many amenities and is served by four railway stations. A new bus terminal with routes to local, regional and long distance destinations means there is easy access to the Northern and Southern cities in the UK. A 3-bedroom detached house in Wrexham will attract offers in the region of £235,000 but auction properties can cost less.
The holiday resort of Rhyl is a good place to look for auction properties in North Wales. Rhyl has a long history of attracting a loyal following and many holidaymakers return year upon year. Buying an auction property in Rhyl can be a good investment especially if you wish to let out the property for an income. A 2-bedroom detached bungalow close to the coast can be found with a guide price of around £120,000.
Colwyn Bay is also dominated by tourism and is another excellent prospect for investors. A 4-bedroom flat in the heart of the town can be bought for around £96,000. In the town you can find a selection of apartments and flats within older buildings. Transport in Colwyn Bay is served by the North Wales Coastline and the A55, a dual carriageway that runs from Chester to Holyhead.
The county of Powys is largely inland but has attractions that include lakes, reservoirs and castles. There is a heritage railway line, The Brecon Mountain railway and two main lines. Powys has many towns and villages where property prices are lower than in other parts of the region. A newly renovated Victorian three-bedroom house with Welsh slate roof can cost around £80,000. If you want a property for renovation you can find a large country manor that would attract a guide price of £360,000.
Caernarfon is a county town with many pre-war semi=detached houses that present excellent value for money. A 3-bedroom end of terrace house with large rooms will cost in the region of £110,000. However, prices for auction houses will also depend upon the condition of the property. Caernarfon is a small port with a population of around 10,000. The railway is a main form of transport and bus services are provided for by Arriva. Caernarfon is also famous for holding the Eisteddfod, a notable musical event that takes place each year.
What Types Of Auction Properties In North Wales Are Available?
North Wales has a wide selection of different kinds of property. Whether you want a development project or a home that is ready to move into, you can find many auction properties in North Wales.
Residential Auction Property In North Wales
Rural properties are plentiful in North Wales. A large 3-bedroom detached house will cost around £120,000 depending on the condition of the property and its location. A 1-bedroom flat can be purchased for as little as £30,000 and there are lots of terrace houses, both modernised or in need of renovation, in the smaller towns.
Commercial Auction Property In North Wales
Whether you want to buy a warehouse, a retail outlet or premises for industrial use you can find a wealth of commercial auction properties in North Wales. Seaside resorts like Rhyl have empty commercial premises that are ready for occupation. If you want to open a cafe or start up a new business you can expect to pay in the region of £55,000. Investors looking for larger premises will find that a large 20 bedroom hotel can be purchased for around £1.5 million.
Renovation Auction Property In North Wales
This region provides many opportunities for investors who wish to buy renovation properties in North Wales. From deserted farmhouses and barns through to abandoned old manor houses, the area has many good deals available. You can find pre-war bungalows with a large outside space and Victorian terraces that are ready for development. It is wise to bear in mind that properties for renovation may be in more rural areas where transport is sparse.
Auction Properties in North Wales FAQ
How Can I Find Auction Properties In North Wales?
Look for advertisements for upcoming auctions or properties that are available pre-auction. Online auction houses will show new properties as they become available. Check newspapers and local estate agents for details of auction properties in North Wales.
How Much Do Auction Properties In North Wales Cost?
The cost of auction properties in North Wales varies depending on the location and the size and condition of the property. A 3-bedroom house can have a guide price as low as £90,000. There are also large detached properties that will cost upwards of £500,000.
Which Areas Are The Best To Find Auction Properties In North Wales?
Coastal towns like Rhyl and Colwyn have a diverse range of auction properties available. There are also rural homes in the countryside where you can buy a cottage or larger home for less than at the seaside.
Are There Repossessed Properties At Auction In North Wales?
Repossessed auction properties are available in North Wales through banks or finance houses. You can find houses and commercial properties like pubs or cafes that have been repossessed. Typically, repossessed properties are available at lower prices but they are not usually sold at a property auction.
Five Reasons To Buy Auction Properties In North Wales
1. Quality Of Life In North Wales
North Wales has a lot going for it and is proving to be a good choice for families wishing to relocate away from large cities. It is a centre for world heritage and culture. House prices vary throughout the area but wherever you choose to live you will find stunning scenery and a warm welcome. North Wales is not just for families. Single people and couples will find plenty of attractions and events in the coastal towns and further inland.
2. Lower Cost Of Living
Living in North Wales will cost you less and you can get more value for your money when buying an auction property. Many houses were built pre-war so rooms are larger and so are gardens. In addition to the lower cost of living, salaries in Wales are increasing at a rate of 10% per annum compared to 5.7% in other areas of the UK.
3. An UP And Coming Region
Formerly known for its mining communities, North Wales is now attracting new industries notably electronics, aerospace and renewable energy businesses. Tourists are still a major contributor to the economy but there is now a burgeoning adventure tourism sector with a park in Snowdonia and many other sites in Wales. Other exciting developments are life sciences and organic products. North Wales is set to be a leader in the 21st Century.
4. Castles And Culture
Wales is awash with castles, culture and festivals all year round. You can marvel at the unique village of Portmeirion and learn a lot about Welsh culture from the historic museums that are prevalent all around North Wales. Food is also an attraction with many outstanding restaurants in coastal towns which attract property buyers from all over the UK.
5. North Wales Has Something For Everyone
Many towns and villages in North Wales are close to both the beaches and the countryside but you can also have a lively time in the cities and towns. Food and drink are important to Welsh people so you can go for a night out in the pub and taste one of the Welsh national dishes. Whether you want a spacious detached house or a small remote cottage you will be able to find your ideal home in North Wales.
Some Final Thoughts About Buying Auction Properties In North Wales
Many people are intimidated by the idea of buying auction properties but as long as you follow the guidelines you will be fine. Not everyone is looking for an expensive property to buy so you will feel at home with other buyers who are also searching for a bargain.
Research is important so try to attend an auction first to see how things are done. Settle on a realistic budget and never make an impromptu bid for a property that you know nothing about. Buying auction properties in North Wales can be an enjoyable experience and is an excellent way to invest for the future.
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