Spring Housing Update

As you might expect, there’s a spring in the step of the housing market this season. Since we last looked at this, some two dozen property owners have joined the market. A couple of these have already reduced their asking price. A further half dozen already on the market have similarly cut their asking prices. One has withdrawn from the market. We estimate that £200,000 was wrenched off house prices this year to date alone. In addition, a further two dozen on the market to December 31st, 2023 had previously seen a reduction. 

There are now 85 dwellings in Rhuthun/Ruthin for sale (112 in the greater Rhuthun area). Of those in Rhuthun, 35 are under offer (a dozen or so being sold so far this year). 

It wasn’t all a one way street in terms of price reductions, though. The imposing Plas yn Dre, Castle Street, had been on the market in 2023 for £600,000. Molyneux then handled it from June 2023 at a ‘mere’ £475,000. The owner took it off in February 2024 only for it to reappear under Cavendish Ikin on March 1st, 2024 at £585,000. That’s a 23 per cent increase in asking price. In the process, it also gained an extra bedroom! 

The seven-bed half of the former Wynnstay has also increased in price. Well, sort of. This, however, has seen a troubled recent history. In April 2023, it went on for £400,000 but lost £60,000 almost overnight to £340,000. It sold but didn’t last. After a second sale, this too collapsed and it found its way back on the market again at the end of February but for £347,000, an increase of two per cent. (Two other properties seem to have fallen through.) This part of the Wynnstay has been on with Purple Bricks throughout. There is one other on sale via that online agent, with a third in Pwllglas. 

The £395,000 up-together one...

Two almost identical ‘ordinary’ houses within yards of each at other Bryn Eryl found themselves on the market at the same time. They are in very different conditions. Both are four-bed detached houses. One, above, is in good condition and on the market from early March at £395,000. It benefits from income generating solar panels. 

The other added in January in understated Cavendish Ikin-speak (or more general estate agent speak) is ‘in need of a major programme of repair and renovation’. Translated, this means it needs completely remodelling. It has no kitchen or bathroom. The lavatory pedestal is languishing in one bedroom and a bath adorns the living room floor. Part of the garden appears to be growing within the conservatory. The asking price is £265,000 and there’s an offer for £255,000. If the up-together first house is valued correctly (and it seems to be), this leaves £140,000 to bring the second to an occupiable condition. That is optimistic, unless you’re a builder yourself. It will be worth more than £395,000 when completed. 

... and the £265,000 internally gutted one

Llanfair Road can attract high prices. This three-bed bungalow on Llanfair Road, on in mid-February but reduced by some £30,000 in a fortnight, is at £495,000. Seems high? It does offer three double bedrooms.  

Llanfair Road with what appears to be power lines across the garden

Those after something with more character and more privacy could try one of our favourites, to the rear of Castle Street. The tucked away, quirky three-bed detached house isn’t especially big but it has a large integral garage/workroom plus store crying out to be incorporated within the main house. This might leave a car parking problem, though. The living room finds itself as an almost separated extension. The best feature, however, is the Grade I-listed two-storey detached gazebo with views over Nantclwyd y Dre’s Lord’s Garden and elsewhere. 

The gazebo out of sight from the rear of Clwyd Street but affording interesting views

Three of the four flats available at the differently-named Gweld Mynydd (at the Old Station Yard roundabout i.e. Craft Centre roundabout) have sold subject to contract.

At the other end of the spectrum is No. 10 Mwrog Street. This was bought in 2013 by the Church in Wales after the closure (and subsequent conversion) of the Llanfwrog Institute (further west on Mwrog Street). No. 10 projects handsomely into the street. Above is a flat under a protected tenancy (with income) and the ground floor is marketed as ‘open plan living’ in an area currently set out as a meeting room. Cavendish Ikin is pushing this as retail space. All this for £110,000, which will no doubt go towards the refurbishment of St Peter’s Church. Once the church building is ‘levelled up’, there is probably little need for a separate facility in Mwrog Street. 

Finally, we must make mention of the property called Greyholme on Greenfield Road. This is potentially a demolition job supported by statements on the seller website to this effect (e.g. ‘Attention investors only’). There are still no internal shots or a floorplan. It began life on the market at a suggested £295,000, was then reduced in February first to £250,000, then £230,000 and as of yesterday to £220,000. Via auction, this is probably now a bargain.