Table of Contents
- Auction Properties In South Wales
- Property Prices In South Wales
- Where Should You Look For Auction Properties In South Wales?
- Auction Properties in South Wales FAQ
- What Kinds Of Auction Properties In South Wales Are Available?
- Five Reasons To Buy Auction Properties In South Wales
- Some Final Thoughts About Buying Auction Properties In South Wales
Auction Properties In South Wales
Buying Auction Properties In South Wales
The desire to live at the coast is just one of the factors that lead many people towards buying auction properties in South Wales. The majority of the population of Wales live in the south. The choice of properties includes countryside homes in one of the historic counties and city properties in one of the three major conurbations. This guide will lead you through some of the questions you may have and provide information about buying auction properties in South Wales.
Property Prices In South Wales
In January 2020 the average property price in Wales stood at £161,719, an annual rise of 2%. However, there are regional differences in property prices in South Wales. Prices in Cardiff showed a growth of 4.1% from 2019 and the average price in January 2020 was £216,063. Prices in Swansea are lower and in the same month showed an average price of £152,423 but a higher than average growth rate of 3.6% over the previous year.
Auction properties in South Wales can often be purchased at lower prices than the average properties listed by estate agents. The more industrialised areas of the region have a range of properties at lower prices. In the former mining town of Merthy Tydfil auction prices for a large 2-bedroom terrace start with a guide price of £43,000. A the upper end of the market in Glamorgan you can expect to see a guide price of over £600,000 for a 4-bedroom detached house.
Where Should You Look For Auction Properties In South Wales?
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Locating suitable auction properties in South Wales will depend upon your individual requirements. If you are looking for good transport links and good shopping facilities then investigating the market in cities is a good idea. Similarly, if you are prepared to compromise on some of your priorities, you can widen the search to multiple locations.
Listed below are some of the popular areas in South Wales where you can find a variety of auction properties.
The transport links to and from Cardiff make it a good proposition for buying auction properties. There are direct rail links to Bridgend and Newport and cross-Wales rail services to the rest of the UK notably the Midlands and the South.
Around Cardiff Bay properties are expensive but in other parts of the city you can find moderately priced terrace houses, flats and studio apartments. Urban properties are largely Victorian.
The second largest city in South Wales, Swansea is close to the M4 Motorway and has rail services to other parts of Wales and to Shrewsbury in the North East. Originally a centre for metals and mining, Swansea now plays a large part in the service sector in education, health and banking.
Swansea university is a centre of excellence and the need for rental properties, particularly flats, makes this a good prospect for investment in South Wales.
Transport in the historic county of Monmouthshire is served by buses and the railway which has limited services to Manchester and Cardiff Central. Within the countryside you can find an array of derelict and abandoned chapels and pubs which are ripe for conversion into homes.
The largest town is Abergavenny where many modernised flats are contained within older buildings. There are also semi-detached and detached houses. The location makes auction properties here more expensive than other parts of South Wales.
Pembrokeshire has a beautiful coastline that is designated as a National Park. Tourism plays an important part of the economy so the rental property market is very lucrative. There is a rail station at Pembroke which has services to Swansea and there are lines that cover the popular seaside resort of Tenby.
Many investors buy terraced houses which can be refurbished and let out as holiday homes. A 3-bedroom detached bungalow in need of modernisation will attract a guide price of around £120,000.
The Rhondda Valley was previously well know for its industrial heritage which heavily featured mining and iron works. The economy in modern Rhondda depends more on the service sector.
Average house prices in Rhondda are lower than other areas in South Wales. Flats sell for around £114,000 and terraced houses go for an average of £95,000. However, a terraced house at auction can start with a guide price as low as £25,000 so there are lots of opportunities for investors.
Auction Properties in South Wales FAQ
How Can I Find Auction Properties In South Wales?
Auction properties in South Wales are advertised in local newspapers, free papers, property magazines and online. Auction houses have websites which you can browse around and get the information you need. You can also contact local banks and property repossession companies to find out about any property being sold at auction.
How Much Are Auction Properties In South Wales?
A 3-bedroom detached house in South Wales can start with a guide price as low as £90,000. A large 4-bedroom detached house sold at auction in Swansea can cost upwards of £300,000. Prices depend upon location, size and the condition of the property. Take your time and browse the property auction catalogue carefully in order to find properties within your price range.
Can I Buy Repossessed Properties At Auction In South Wales?
Repossessed properties up for auction in South Wales are advertised by banks or finance companies. You can find a selection of residential and commercial properties as well as renovation projects and derelict buildings. Contacting banks or companies will give you an idea of the kind of repossession properties that may be sold at auction in Wales.
Which Areas Are The Best For Auction Properties In South Wales?
The best area to buy auction properties in South Wales price-wise tend to be Swansea, Pembrokeshire, The Rhondda Valley and around Monmouthshire. A variety of more expensive properties are available in the cities whilst towns and villages offer more modestly priced houses and flats.
What Kinds Of Auction Properties In South Wales Are Available?
You can buy different types of auction properties in South Wales. With choices of residential, commercial, renovation projects or buy-to-let in a variety of locations, South Wales provides many opportunities for investment.
Buy-To-Let Properties For Auction In South Wales
Over the long-term the property market has proved a success for investors purchasing buy-to-let properties in South Wales. However, investing in this type of property is not the same as buying a home in which to live. The demand for buy-to-let often lies in areas close to schools, shops and good transport links so these are good indicators of which locations to consider. A terrace house that is divided into two flats can offer a good annual income.
Residential Auction Property In South Wales
There are plenty of different residential properties for auction in South Wales. In former mining towns there are rows of terrace houses that are very moderately priced. You can also discover hidden gems in the countryside and rural properties are proving as popular as town apartments. Guide price for a 3-bedroom house in South Wales can be as low as £34,000.
Commercial Properties For Sale By Auction In South Wales
In addition to the many shops and industrial premises in South Wales you can find unusual kinds of commercial auction properties. Garages, an electricity sub station and closed down churches are all available. Location is important if you want to buy premises to run as a retail store. Look at the proximity to the town centre and consider parking.
Resources for property buyers in Wales:
Council tax rates in and around Swansea
Information on Rhondda and surrounding area from Wikipedia
Five Reasons To Buy Auction Properties In South Wales
1. Lifestyle In South Wales
If you hate crowds then South Wales is an ideal choice to buy an auction property. You can live in a peaceful village but still visit and enjoy the excellent facilities in cities like Cardiff and Swansea. A 2016 study showed that people living in Wales were some of the happiest in the UK.
2. Affordable Homes In South Wales
There is plenty of scope for buying an auction property in South Wales even if your budget is modest. Homes in this region represent excellent value for money and property prices are steadily going up compared to other parts of the UK. Buying in this area is an excellent investment for the future.
3. Welsh Culture And Hospitality
Art and culture go together with the welcoming hospitality of the Welsh people. Wales holds many festivals each year and a staggering eight out of ten adults attend arts events. The natural beauty of the Welsh countryside is another attraction for buyers of auction properties in South Wales.
4. Variety Of Places To Live
Some of the best places to live are in South Wales with Swansea Bay coming top of a the Sunday Times list in 2018. You can choose to live in the stunning countryside or pick an auction property at the coast where there are numerous opportunities to enjoy life by the sea. Cities like Swansea and Cardiff have both period properties and modern apartments for sale.
5. Up And Coming Economy
The economy in South Wales is proving to be very strong and Cardiff is just one place that is attracting businesses with younger people flocking to the city. Retail, tourism, finance and media are all thriving in South Wales making it an attractive option for buyers of auction properties.
Some Final Thoughts About Buying Auction Properties In South Wales
Buying an auction property in South Wales needs a lot of consideration. You can start by drawing up a budget and making enquiries with auction houses about the way property auctions work. Most auction houses now offer online auctions as well as those that you can attend in person.
Beware of the impulse to bid over your set budget and make sure that you have researched the property as thoroughly as possible. Following a few simple rules will enable you to secure a good deal.