What's going on in the housing market at the moment?
And, the market is being distorted by a change in buyers' requirements away from that dream kitchen or bathroom to more space, more land and somewhere near open spaces.
The market subsequently slowed down from mid-September, as there are fears of a second wave of the virus, not to mention concerns over redundancies.
» Micro-level locally
It's certainly true that the sub-£250,000 market has been doing well, post-virus. It has helped vendors that the supply is low. Asking prices seem to be holding up.But the sluggishness elsewhere at above £250,000 is not the case in Rhuthun/Ruthin. Why might that be? Perhaps, if you want to work more from home, you might wish to chose somewhere special and Rhuthun certainly is that. No doubt the recent improvements at Ysgol Brynhyfryd helps. It's back to its rightful pole position.
Here are some examples.
Llys y Berllan
It's rare to see a house at Llys y Berllan on the market and I think that sold in January 2020 but it fell through. The owners then popped it back on in February 2020, at £20,000 more. This was six weeks before lockdown (not an especially good time). The asking price for this four bed home is £440,000. It's selling point from a home working perspective is three reception rooms including a large games room that could become a handsome study or office, which was formerly the sitting room (but there's no garage). And the rear garden is large enough to feature a small veg plot. It ticks all the more recently sought after requirements.
St Meugan's
At £425,000, this house found its way onto the market in August and by September was sold. It's unique, enjoys a large garden and has space currently for an office and, with three reception rooms, it, too, is what people are currently after. The views it enjoys come with a downside. It's on the 'back road' to Wrexham which, over the years, has seen increasingly high levels of traffic.
Stryd y Brython
Parc Brynhyfryd has yet to lose its appeal, as its prices indicate. Here's a large detached house on the market for £395,000. It was on about two years ago but there were no bites. More recently, it went on during September and sold almost immediately. It has a remodelled through kitchen-dining room but does benefit from two living rooms, with the extension offering a possibility of a home-office.
» Macro-level across the nation of Wales
At a macro-level, and this is from the horse's mouth of a local estate agent (and we're not talking an assistant), after the easing of lockdown, the housing market hotted up. This, I was told, was because of a number of factors: there was pent-up demand held back by lockdown; people became fed up with their homes over lockdown; and some houses were seen as unfit for working from home. Houses in the sub-£250,000 category were flying off the shelves (so to speak), helped by a reduction in Wales' version of stamp duty. But, generally, there were also people accepting good offers for their homes but some were then struggling to gather sufficient finance for their next step, as some of these were not at a reasonable price. People certainly seem reluctant to trade up to £400,000 homes in the current conditions.And, the market is being distorted by a change in buyers' requirements away from that dream kitchen or bathroom to more space, more land and somewhere near open spaces.
The market subsequently slowed down from mid-September, as there are fears of a second wave of the virus, not to mention concerns over redundancies.
» Micro-level locally
It's certainly true that the sub-£250,000 market has been doing well, post-virus. It has helped vendors that the supply is low. Asking prices seem to be holding up.But the sluggishness elsewhere at above £250,000 is not the case in Rhuthun/Ruthin. Why might that be? Perhaps, if you want to work more from home, you might wish to chose somewhere special and Rhuthun certainly is that. No doubt the recent improvements at Ysgol Brynhyfryd helps. It's back to its rightful pole position.
Here are some examples.
Llys y Berllan
St Meugan's
Stryd y Brython
This house went on in October 2019 at £340,000. It had previously appeared in early 2017 at £325,000 but it hadn't shifted on either occasion. Back in 2016, it was also on for £340,000 reduced to £330,000. Along came coronavirus. It sold after lockdown and the seemingly insatiable post-coronavirus appetite for larger Rhuthun houses. Here is a property with a part-converted garage to provide a study. There are open views to the rear. Just what people now seem to want but, unusually, there's no conservatory.
Wern Uchaf
Another rarity is this four bed house at Wern Uchaf which, if anything, at £359,500, is under-priced. It comes with a purpose-built study, large gardens to front and rear and uninterrupted open space to the rear. Little wonder, then, that it went on in September and sold almost immediately.
Bryn Eryl
This is similar to that offered in Stryd y Brython, with a reasonable garden but without the extension. Large bedrooms mean that one could be converted to a home-office quite easily. It went on during 2019 and didn't sell. It then fell foul of the coronavirus trap. It took the unprecedented demand at end of lockdown to see this shift. It was reduced in November 2019 to £345,000.
Clwyd Bank
Here's a piece of history, dating from the 16th century, with a rare Ruthin Borough Council plaque. It has only three beds but it does have plenty of character. The rear is open, with views to the Old Gaol. It's for sale at £355,000 and was placed on the market in June, at the time restrictions began to be eased. It's downside is that it's on the boy racer night-time racetrack, Clwyd Street.
Summary of Larger Mid-market Houses
| House | On the market | Price | Status |
| Llanfair Road | 19/08/20 | £450,000 | For sale |
| Llys y Berllan‡ | 07/02/20 | £440,000 | SSTC |
| St Meugan's‡ | 29/08/20 | £425,000 | SSTC |
| Denbigh Road | 24/07/19 | £698,500 | For sale |
| Stryd y Brython‡ | 08/09/20 | £365,000 | SSTC |
| Llanfair Road (2) | 16/09/20 | £385,000 | For sale |
| Llanfair Road (3) | 24/09/20 | £360,000 | For sale |
| Wern Uchaf‡ | 11/09/20 | £359,500 | SSTC |
| Stryd y Brython (2) | 10/09/20 | £350,000 | For sale |
| Stryd y Brython (3) | 23/09/20 | £350,000 | For sale |
| Bryn Eryl‡ | 2019 | £345,000 | SSTC |
| Stryd y Brython (4)‡ | 01/10/19 | £340,000 | SSTC |
| Clwyd Bank‡ | 23/06/20 | £335,500 | SSTC |
‡ House featured above
Of the 13 larger, larger mid-market homes, nine were placed on the market since lockdown eased in June. Of these, four are sold and a fifth now also sold which appeared on the market one month before the coronavirus emergency. Two others have since sold under the new market conditions. In all, seven of the 13 are sold. That is surprising and it does appear to buck the national trend. Prices seem to be standing relatively firm.