Table of Contents
- Auction Properties in Wales
- Property prices in Wales
- Wales Land Transaction Tax Calculator
- Where should I look for auction properties in Wales?
- Auction Properties in Wales FAQ
- What kind of auction properties in Wales should I look for?
- 5 good reasons to buy auction properties in Wales
Auction Properties in Wales
Buying auction properties in Wales
If you are on the lookout for auction properties in Wales, our guide will answer any question you may have. Wales attracts people from all walks of life, some looking for a primary residence while others are looking for a holiday home. With a population of just over 3 million (4.8% of the UK population), the small size of the principality appeals to many.
Its former reliance on coal/slate mining and steel production has gradually been replaced by employment opportunities in tourism, public service industries and light manufacturing. With a wide variety of residential, commercial, industrial and agricultural premises for sale, buying auction properties in Wales has never been easier.
Property prices in Wales
Property prices in Wales are significantly lower than most other parts of the UK. In some parts of the country, prices can be over a third lower (35%) although there are areas of Wales which have seen property prices rise as fast as the rest of the country.
|Popular Property Guides|
|Find out How To Buy To Let|
|Guide to UK Property Investment|
|How to be a Private Landlord|
|Get much better Home insurance|
The most expensive parts of the country tend to be its largest cities: Cardiff, Swansea and Newport. It is still possible to pick up a bargain in these places although the property will probably need extensive renovation including structural repairs.
Wales Land Transaction Tax Calculator
Use our Wales land transaction tax (LTT) calculator to determine the amount of LTT you would pay on a property in Wales. Please note our Wales LTT calculator is for guidance only, you should seek professional advice to get exact figures relating to your property in Wales
Where should I look for auction properties in Wales?
Although most people are familiar with the largest Welsh cities such as Cardiff, there are also other places where you could find properties put up for auction in Wales. Our list of some recommended locations for property around Wales includes:
With a population of about 362,000, Cardiff would appeal to home buyers who wish to live in an urban centre with all the facilities you would expect from a city such as shopping, entertainment and sports. The property market in Cardiff is very similar to other UK towns in terms of what is on offer such as a mix of terraced, semi-detached and detached properties, mostly dating from Victorian times to new-builds. The average price for residential property in Cardiff is £250,000, although auction properties in Wales are generally around 30% cheaper, but there are better deals available if the property is smaller or in bad condition. There are also opportunities to buy commercial and industrial properties at auction in Cardiff.
Located on the coast in the Vale of Glamorgan, Barry is Wales’ largest town (population: 55,000). It is the ideal choice for home buyers whose work is in Cardiff but are unable to pay Cardiff property prices. It is within easy commuting distance of the Welsh capital and has seen a lot of interest from people priced out of the Cardiff’s property market. A property worth £250,000 in Cardiff can be purchased in Barry for around £190,000. However, prices have risen by nearly 11% over the past five years and this trend seems set to continue.
There is a wide range of auction properties in Barry, varying from semi-detached houses in the town centre to older properties available for renovation around the waterfront area.
Located in Torfaen county, Pontypool has seen growing interest from home buyers over recent years with prices rising 10% since 2019. The most expensive property is £181,000 but this would be a detached property in a prime location. Many houses sold at auction would cost considerably less. Torfaen county is much cheaper than neighbouring Monmouthshire but is more accessible for anyone wishing to commute via the M4.
Auction properties in Pontypool include the usual styles of residential properties (a mix of terraced, semi-detached and detached) as well as cottages, smallholdings and other rural properties. Many of these are ripe for conversion if your auction property financing allows you to budget for this.
Llandrindod Wells (Powys)
A former spa town, which reached the peak of its popularity in Victorian times, Llandrindod Wells is ideal for property buyers who want to get away from it all or who wish to buy a holiday home. With the appeal of foreign holidays, fewer visitors come to the town so you would not have all the problems that resorts often face in the summer. Another reason to buy a home here is the number of unique properties put up for sale at auction including large Victorian townhouses and Art Deco properties. This could be as much as 40% cheaper than similar properties in other parts of the UK.
Situated in the north west of the country, Bangor’s population is estimated to be around 20,000. Despite its relatively small size, Bangor is classed as a city although its property market is what you would expect from a small town in the rest of the UK (predominantly terraced and semi-detached homes). The population of Bangor is boosted by the number of students studying at its university during term time. This makes it the ideal location for someone wishing to buy a property for investment purposes which could be then rented out to undergraduates.
Auction Properties in Wales FAQ
How can I find auction properties in Wales?
Although auction houses publish catalogues of upcoming property auctions, the quickest way to find auction properties in Wales is through an internet search. Visiting auction house websites will give you an overview of what is available. You can also look in Welsh business directories and attend a real life live property auction near you.
How much are auction properties in Wales?
The price of auction properties in Wales varies widely from £20,000-£250,000 depending on their location, size, condition and the type of property you are interested in. The most popular type of property sold at auction in Wales tends to be cottages in the countryside, with an average auction sale price of £188,000.
Which areas are best to find auction properties in Wales?
Depending on your personal preferences, such as whether you wish an urban, rural or coastal location, the best places to find properties put up for auction are: Cardiff, Swansea, Bangor, Newport, Wrexham and Barry.
Can I buy repossessed properties at auction in Wales?
Yes, some repossessed properties in Wales are sold at property auctions. However, when creditors choose this way of selling it is often because the property has been difficult to sell through an estate agent.
What kind of auction properties in Wales should I look for?
Whatever kind of property you are looking for, auction properties in Wales will cover your needs – from residential and renovation properties to industrial and commercial property. You will also be able to get more for your money. For the price of a 1-bedroom flat in many UK cities, you will be able to pick up a detached house with spacious garden in some parts of Wales.
Let’s look at our recommendations for the Welsh property market.
Properties for renovation in Wales
Once your auction property financing is in order, you will have a clearer idea of your budget. Cheaper prices in Wales mean that in some parts of the country you will be able to pick up a terraced house for as little as £20,000-£60,000. Many of these auction bargains are located in less affluent areas like Rhondda Cynon Taf. In small towns like Ferndale and Aberdale, these former miners’ terraced cottages are ideal for a home buyer who has the funds to fix up the house and put their own personal stamp on it with extensive renovations.
Apart from these areas, former seaside resorts like Llandudno also have auction properties for renovation. In such towns, the properties tend to be larger and more varied. After the necessary structural work, former Victorian townhouses could easily be kept as a residence or converted into guesthouses or used for other commercial purposes.
Rural property for auction in Wales
Compared to other parts of the UK, it is relatively recently that Welsh people have left their villages and the agricultural industry to seek employment opportunities in large cities. This has left a vacuum in rural areas which has great potential. Across the whole of the country, you will find country cottages (often with a plot of land attached), farmhouses and barns at bargain prices. Your choice of location will depend on how close you wish to be to transport links to the rest of the UK.
Industrial Property in Wales
The switch from heavy to light industry has changed the landscape as far as industrial properties are concerned. You will be able to find a wide range of industrial properties from factories and warehouses to lots in modern industrial parks. For an investor wishing to set up or relocate to Wales, both national and local governments offer a number of incentives. It is also an attractive place for employers as the average pay is 15% lower than the rest of the UK (Office for National Statistics, 2019).
5 good reasons to buy auction properties in Wales
Wales has a varied and beautiful landscape
From rural getaways to the highest mountain in the UK, Wales appeals to nature lovers of all kinds. With over 150 beaches, Wales is the only country in the world to have an uninterrupted pathway along the entire length of its coastline (the 870-mile All Wales Coastal Path).
Achieving a work-life balance in Wales
With a more relaxed attitude to work and a variety of outdoor activities on offer, the inhabitants of Wales enjoy a good quality of life. Its largest cities are the same size as UK small towns, so they tend to be friendlier and less stressful places to live, work or visit.
Wales is a great place to raise children
According to Estyn (the Welsh regulatory body for education), over 75% of Welsh schools are rated good or excellent. Apart from a good educational system, there is less crime so children can be given greater freedom to explore and become more independent.
Wales is the land of myth and tradition
For those interested in culture, Wales is the land of legend, folklore and song. Throughout the year, a wide variety of festivals are held to celebrate Welsh culture and history. It is no surprise that about a fifth of the country speak the Welsh language.
Despite its geographical location, Paddington station is only a 2-hour train journey away, and this is due to be cut further as train links are upgraded. Both the north and the Midlands are easily accessible via the M50, M5, and M6. Since the removal of tolls on the Severn Bridge, many people who have been outpriced of the south-west of England (around Bristol) are choosing to relocate to Wales and commute.
With its long, rich history and modern, cosmopolitan cities, its long stretches of beaches and imposing mountains, Wales is a country of contrasts. It is this very contrast which accounts for its appeal to many different people. Buying auction properties in Wales is the ideal way to realise your dream of relocating there or buying an idyllic holiday home without paying high prices. Before committing yourself to a purchase, tour its regions to find the property which is right for you.