Table of Contents
- Auction Properties In Swansea
- Property Prices In Swansea
- Where Should You Look For Auction Properties In Swansea?
- Auction Properties in Swansea FAQ
- What Type Of Auction Property In Swansea Is Available?
- Five Reasons To Buy Auction Properties In Swansea
- Conclusions About Buying Auction Properties In Swansea
Auction Properties In Swansea
Buying Auction Property In Swansea
Investing for the future in a progressive coastal city can make buying auction properties in Swansea a good prospect. This is the second largest city in Wales with a population of around 250,000. There is a good choice of properties including older stone houses and modern purpose-built flats.
Swansea was a leading industrial city but now jobs are focussed on the financial sector, tech services and the DVLA which is the major employer. Whether you are interested in investing in city centre high-end housing or prefer to purchase in an area where the prices are lower, this article will help you to find auction properties in Swansea that are affordable.
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Property Prices In Swansea
The UK Index in Wales for January 2020 shows an average house price of £161,719. This was an annual increase of 2%. In Swansea the increase was higher at 3.6% and the average price was £152,423. Most properties sold in 2019 (latest figures) were semi-detached homes which achieved an average price of £156,569. Detached houses sold for an average of £262,039 and terraced houses were sold for an average of £124,018.
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The diversity of property sold by auction includes some older homes in need of renovation and this reduces the average price of auction property in Swansea.
Where Should You Look For Auction Properties In Swansea?
Swansea covers some 380 square kilometres comprised of 30.5% urban and 69.5% rural. There are around 120,000 dwellings, most of which are owner occupied. Around 7% of the population comes from outside of Wales and increasingly more people are investing in auction properties. Listed below are several areas of Swansea where you could consider looking for auction properties.
Port Tennant (SA)
Port Tennant is mostly residential with basic amenities such as a doctor’s surgery, primary school, a few pubs and a church. There is a dedicated bus service that goes directly to the city centre. Buying an auction property here gives you the advantage of a small community but also easy access to Swansea city. A 2-bedroom terraced house close to the Swansea university campus will start at around £87,000.
Situated 2 miles to the west of the centre is Sketty, a village with 2 pubs, 2 restaurants and a surprising number of shops. Sketty Park was originally an area of social housing but most homes are now owner occupied. Many university students live in Sketty so this is an area worth consideration for buy-to-let investment. Typical starting price for a 1-bedroom flat is around £74,000.
Suburbia and wide open parkland combines to make Manselton a very desirable place to buy auction properties in Swansea. The local bus service is sparse but the village is only a 30 minute walk from the city centre or by Uber it takes just 5 minutes. Price for a 3-bedroom terraced house in Manselton starts at around £45,000.
The village of Birchgrove lies 4.5 miles north east of Swansea city centre and has easy access to the M4 motorway. Sitting amongst countryside that is scattered with pre-historic monuments, Birchgrove was previously a mining village so there are plenty of older properties as well as newer homes that have been developed for commuters. A 4-bedroom detached house can cost around £260,000. More affordable properties are available such as a 2-bedroom semi for around £90,000.
Just 7.5 miles out from Swansea is the community of Pennard which has a ruined castle, an 18 hole golf course, a health centre, a library and a primary school. Close to the coast, Pennard has a regular bus service to the city which takes only 40 minutes. Prices here are slightly higher due to the demand for properties. There are many larger detached homes. A 2-bedroom flat in a purpose-built block costs around £184,000.
Property resources for Swansea, Wales
Council tax rates in Swansea
Visit Swansea – general information about the city and area
Stamp duty in Wales – LTT Calculator
Auction Properties in Swansea FAQ
How Can I Find Auction Properties In Swansea?
You can find auction properties in Swansea by searching online and checking out advertisements in the local press. Properties for auction are available in Swansea city centre and the outlying villages. These are marketed by auction houses and estate agents.
How Much Are Auction Properties In Swansea?
Average house prices in Swansea in 2019 were £156,569 for a semi-detached house and £124,018 for a terraced property. Properties sold by auction may be lower than these figures. Monitoring the price will give you an indication for a particular type of property.
Which Areas Are Best To Find Auction Properties In Swansea?
Areas outside the centre are considered better value for auction properties in Swansea. Villages such as Port Tennant and Pennard give good value for money compared to auction properties in the city.
Can I Buy Repossessed Properties At Auction In Swansea?
There is the potential to buy repossessed properties in Swansea. Details of available properties can be found on specialist finance websites and local/national banks. The local council may also have a list of repossessed properties in Swansea.
What Type Of Auction Property In Swansea Is Available?
All types of properties are available at auction in Swansea. You can find commercial property like shops, offices and industrial units. Residential properties of all types are regularly put up for auction and many investors are now choosing Swansea as their priority for purchasing buy-to-let properties.
Buy-To-Let Auction Properties In Swansea
Investment in buy-to-let properties is taking off in Swansea due to lower house prices and an economy that is burgeoning. Tech, financial services and creative industries are expanding. This factor combined with the steady increase of university students makes Swansea a good choice for buy-to-let investment. Starting bid for a 5-bedroom terraced house can be as low as £150,000.
Commercial Properties For Sale By Auction In Swansea
There is a great demand for commercial properties in Swansea especially for retail outlets. Expect to see a guide price of around £30,000 for shop space of 400 square feet. A shop unit with accommodation above can cost around £117,000. Close proximity to the centre puts up prices for commercial auction properties in Swansea.
Residential Auction Property In Swansea
Residential auction properties in Swansea are plentiful at present. You can find a studio flat in the city centre with a guide price of £50,000. If you are searching for a larger residential auction property you can find a 3-bedroom detached home starting at £105,000. This price is considerably lower than the average for Wales.
Five Reasons To Buy Auction Properties In Swansea
1. Diverse Choice Of Auction Properties In Swansea
The large choice of auction properties makes Swansea an excellent place to invest. Properties for auction in Swansea vary from small 1-bedroom studio flats to large 5/6 bedroom houses with land. There is also a good range of commercial auction properties available.
2. Swansea City Regeneration
South Wales and particularly Swansea is becoming a hot spot for investors and this is due in part to the regeneration scheme that is now underway. The Kingsway area is being landscaped with new cycle paths and Swansea Bay has 11 major projects in place. Regeneration projects are maximising economic benefits and making Swansea an attractive place to invest in property and to live.
3. Swansea Is A Student City
The excellent reputation of Swansea University and the hospitality of the Welsh has led to a greater number of students coming to the city. This in turn means a larger demand for all kinds of housing which makes Swansea a great place to invest in property.
4. Swansea Has A Market And Excellent Shopping Facilities
The largest indoor market in Wales and the city centre shops are two reasons to invest in auction properties in Swansea. The market has over 100 stalls and offers a unique experience for shoppers. In the thriving city centre there are local and national brands alongside independent retailers offering unique products.
5. Swansea Is In A Great Location
The location of the city makes Swansea one of the most attractive places for buyers of auction properties in Wales. Links by road make travelling to other parts of Wales an easy experience. The rail line provides services to North Wales and the UK (Shrewsbury). Add to that, easy access to the seaside and you can see why Swansea is such an attractive option to buy auction properties.
Conclusions About Buying Auction Properties In Swansea
The location of Swansea and the diversity of properties has made the city and the surrounding villages an attractive proposal for auction property investors. Swansea is undergoing considerable regeneration and this fact along with excellent transport links adds to its appeal. Prices for auction properties in areas a little way out of the city are more modest than those in the centre. Villages like Manselton and Sketty offer good investment possibilities especially if you are searching for buy-to-let properties.
The increase in property auctions both online and ‘in person’ events means that there are more people attending so bids can go up quite quickly. Property auctions have fees associated with buying so make sure that you are alert to the terms and conditions before you bid. It is also important to secure your finances in advance.