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October, 2011
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House Prices
Rent in Cardiff or Buy?
11/21/2011 2:09:56 PM
The Nationwide House Price Index for October 2011 recorded the average Cardiff house price at £204,599 and according to Cardiff Council research the average Cardiff household income equates to £31,829 per annum. The cost of the average Cardiff house is now 6.4 times the average Cardiff household income.
So is a citizen of the Welsh capital better to rent in Cardiff or Buy a property in the principality?
Let’s look at the figures, to purchase the average Cardiff house with a 80% Loan to Value (LTV) mortgage a buyer would need a 20% deposit which equates to £28,563.40 and will then have to pay the taxman 1% of the cost of the property as a “Stamp Duty” which is a further £2,045.99 (Although first time buyers are exempt up to £250,000 threshold applies from 25 March 2010 up to 24 March 2012 inclusive) and then added to the equation is the lenders arrangement fees from £499 to £1995.
So to purchase an average house in Cardiff a figure ranging between £31,108.30 to £32,604.39 is needed before any legal fees, surveyors fees and removal costs are taken into consideration take the figure up to a ball park £35,000, no wonder the average age of a first time buyer in the UK is now 43, what hope have you got it you have left university with a large loan for tuition fees?
So now you have your thirty something thousand pounds saved and armed with your 80 per cent Loan to Value fixed rate mortgage you can expect to pay rate circa 3.5% if you have a squeaky clean financial track record which equates to a monthly repayment of about £587
 
As a Cardiff lettings agent we are still seeing a trend of rising rent prices even though we are entering the so called “quiet period”, but what can you expect to pay per calendar month?
 
Cardiff Rent, How much will you pay?
One bedroom              Average rent £494 per calendar month
Two bedrooms                        Average rent £619 per calendar month
Three bedrooms          Average rent £575 per calendar month
Four bedrooms                        Average rent £999 per calendar month
Five bedrooms                        Average rent £1,251 per calendar month
 
As you can see a family with two children requiring a 3 bedroom property can look to pay £575 per month to rent in Cardiff and not have the hassle of the structural up keep of their home or have to worry about the heating packing up, they can leave the hassle and stress to the landlord or their property letting management company, or having saved their thirty thousand something pound pay £587 to own their own home.
 
WebLetz is a Cardiff Letting Agent and provider to information to Cardiff landlord and tenant across Cardiff, Wales and the UK.
 
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk or by telephone 0845 496 0000.
 Why not visit Letting Agent Cardiff to register for our FREE guides:
Finding the Perfect Tenant
Reduce Void Periods and Receive your Rent on Time
 
Nationwide House Price Index for Wales
11/1/2011 10:45:46 AM
WebLetz a Cardiff Letting Agent and Cardiff property Management Company provides letting agent solutions and market information geared towards Cardiff landlords and Cardiff property owners.
WebLetz a Cardiff Letting Agent and Cardiff Property Management Company provided a breakdown of The Land Registry House Price Index which was released on 28th October and today is turn of the Nationwide House Price Index.   For the UK as a whole house prices were virtually unchanged in the third quarter of 2011 with most regions seeing a relatively small price movement, seven regions saw a small price increase and six seeing a slight fall in house prices.
WebLetz a Cardiff Letting Agent and Cardiff Property Management Company has found that Wales saw its third consecutive quarter of house price rises with a 0.2 per cent rise in the third quarter of 2011. This pushed the annual rate of change from -0.9 per cent to a positive 0.2 per cent and placed Wales as the fourth best performing region in the UK over the last quarter, setting the average house price across Wales at £138,849.
WebLetz a Cardiff Letting Agent and Cardiff Property Management Company has found Cardiff property to be the weakest performing in Wales which saw a 2 per cent year-on- year fall. The South Wales (East) sub-region of Wales which includes Blaenau Gwent, Caerphilly, Merthyr Tydfil, Monmouthshire, Newport and Torfaen was the strongest performing area.
Across the Welsh regions the average Cardiff property price is £204,599 a drop of 2% on last quarter, Mid and West Wales average house price stands at £152,257 a drop of 1 per cent on quarter two of 2011, North Wales average house price is now £168,018 a gain of 1 per cent on last quarter, South Wales (East) average house price £160,224 a 2 per cent increase on last quarter and South Wales (West) average house price £154,822 and a gain of 1 per cent on last quarter.
WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk  or by telephone 0845 496 0000.
 Why not visit Cardiff Letting Agent  to register for our FREE guides:
Reduce Void Periods and Receive Rent on Time
Welsh House Prices down 5.8%
10/28/2011 12:20:06 PM
WebLetz a Cardiff Letting Agent provides a host of letting agent solutions and Cardiff Property Services for Cardiff landlord and property investors across South Wales. Our aim as Cardiff Letting Agents is to provide a cost effective alternative to the traditional lettings agents’ model by providing a low cost, fixed price tenant finders and property management services.
Today, Friday 28th October 2011 has seen the release of the Land Registry House Price Index which has seen Welsh house prices drop a hefty 5.8 per cent from this time last years and a monthly change of down 1.7 per cent resulting in an average house price of £117,813 across Wales. The overall situation across England and wales as a whole is less dramatic with England and Wales combined seeing an annual fall of 2.6 per cent and a monthly fall of 0.3% with today’s average house price being £162,109.
How have Welsh house prices faired compared to the other regions across England? The only region to experience a positive annual price change is London with a movement of 2.7 per cent. The region with the largest annual price fall is the North East with a movement of-8.2 per cent. The North West saw the greatest monthly price rise with a movement of 1.0 per cent. The North East is the region with the most significant monthly price fall with a movement of -3.9 per cent.
Most Welsh regions have seen a fall in house prices with Bridgend seeing the largest annual fall of 9.6 per cent and Cardiff seeing a 2.9 per cent fall from this time last year with the average house price in the Welsh capital being £142,817. The only Welsh region to have bucked the trend is Merthyr Tydfil which saw a 1.9 per cent annual gain with the average house price now £73, 468.
WebLetz a Cardiff Letting Agent aim is to keep Cardiff landlord and property investors across South Wales up to date with the latest news and information that affects their property portfolio as well as providing cost effective letting agent solutions and Cardiff Property Services.
WebLetz a Cardiff Letting Agents provides a host of letting agent solutions for landlord in Cardiff and across South Wales including:
·         £120 tenant finders service
·         5% property letting management fee
·         Rent Guarantee and Rental Income Insurance
·          HMO tenant finders and property management services
 
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk or by telephone 0845 496 0000.
Why not visit Cardiff Letting Agent to register for our FREE guides:
·         Find the  Perfect Tenant for free
·         Reduce Void Periods and Receive Rent on Time
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