Saturday, September 08, 2007

My big opportunity ?

The Caernarfon Herald this week reports an investment opportunity that I may find hard to resist, and I have Plaid lead Gwynedd Council to thank for my current dilemna. It seems that flats in the new, and endlessly debated, Victoria Dock development will soon be available and I will only have to find £690,000 - yes thats nearly seven hundred thousand pounds - to take advantage.
I may need to lower my bedroom matress nearly three inches to grab this golden opportunity !
Any way up above is Rhodri taking a look at the site back in May - perhaps it was the £690,000 that caused the heart scare !
On a more serious note this situation stirs several thoughts.
Firstly when and where will the affordable housing pushed by Gwynedd Council and, we are told, that has been promised in exchange for this development site be delivered ?
Secondly will other homeowners have cause to celebrate as these prices filter in to the local housing market ?
Thirdly if I am forced to hold back my investment due to stock market uncertanties can the project survive ?


menaiblog said...

So you're only interested in the most expensive property available?

A bit odd for a socialist methinks.

menaiblog said...

I hope that you & Rhodri wern't comparing the dock with the waterside developments in his home town.

It would have made our little development seem very modest indeed.

Martin Eaglestone said...

A mind reader - in fact it was discussion and comparisons with Cardiff Bay, Swnasea and Liverpool etc (although all of a different scale)that passed our lips. General chat about the power of waterfront locations in regeneration work, I also notice this trand of the last 20 years as a town planner.

Obviously as a New Labout fan I'll be looking to invest my massive personal wealth in a few of these top range apartments. They will be added to my existing international property portfolio of one terraced house in Y Felinheli!

By the way what are your views on the affordables issue ?
(surely we need to how many and where asap)

menaiblog said...

Obviously affordable housing is a good idea in principle & the stuff that has already gone up is welcome. My daughter is looking for a house at the moment, & although she has a reasonably well paid job, she isn't finding it easy to find a suitable house she can afford. Prices are high in the Caernarfon area - higher than in Conwy where she works. They're also higher than prices in Llanelli where my sister lives, & almost as high as they are in the part of Cardiff where my wife's family live.

An economist would, I suspect, find the concept of trying to keep the prices of certain assets (housing in this case) artificially low problematic - but that doesn't mean that we shouldn't give it a go.

Martin Eaglestone said...

Yes and Gwynedd has a chance off the back of this multi million pound development - so I wonder how many units and where it will go ?