Cardiff Letting AgentLandlordTenant FindersProperty Letting ManagementUK Property BlogFind a Property to Rent Contact Us
Cardiff Letting Agent
Find Your Next Tenant for £120
Rent Guarantee Scheme
Free Tenant Finder
House Prices
Student Accommodation
Health & Safety
Tenant of the Week
Rent Prices
Agent Fees
Market Research, Polls & Surveys
Tenant Referencing
Google Referencing
October, 2011
November, 2011
December, 2011
Rent Prices
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 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
<< Back Add New Comment
0 items total
Add New Comment
Please type the confirmation code you see on the image*
Reload image

Cardiff Letting Agent|Landlord|Tenant Finders|Property Letting Management|UK Property Blog|Find a Property to Rent| Contact Us