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Cardiff Bay - under or over valued?


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Hi - for months i've been tracking the prices in Cardiff Bay and there are confusing trends but most of all estate agents have no clue what the current price needs to be. I have seen one property for instance grossly undervalued and another one which appears to be way above its real target price. My property for instance has been valued by 3 agents, the lowest valuation was around 12.5% lower than the highest one, though i think the highest one was close to its real price based on prices of similar places.

Agents have often talked about the glut of new flats but the prices of those new developments, are about 18-19% higher than what i bought my property for 3 years back - and cant see any significant differences between the floor plan or quality of build so not sure why agents would undervalue to such an extent. My only guess would be that they have a target of number of properties sold rather than the correct price, so more into volume business than margins/commissions on individual sales.

Anyone in the same situation of trying to sell in Cardiff Bay and any idea what the future prospects are for the Bay area, lots happening but not reflected in the what the agents think.

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