New Build Home Prices

skap7309

Pssst wrote: »

They need to wake up .
No one is going to pay £300 for a house that has been knocked up in a few weeks in an overheated market.

£300 for a new build? Quick im out to get my name dow.........................actually, yes, £300 for a crap new build is a little steep. I think i will leave it.

mewbie_2

ToMonkey wrote: »

Basically the people on this new estate seemed unaware...

The people working in the sales office are as unaware of the financial crisis as anyone else. There will be an element of sales talk, but mostly they simply do not know or understand. They sell houses. It's not a hugely qualified profession, so they probably don't spend their spare time informing themselves, reading the business pages and so on. This also applies to estate agents, surveyors, etc. - just because they work in the trade does not make them a financial guru.

mr.broderick

ToMonkey wrote: »

I live in St Helens and there are a few new developments around here. We went to look at one at the weekend. Basically a 4 bed house circa £300k which for me is way too expensive.

Basically the people on this new estate seemed unaware of what was going on around them in the real world, when asked about falling house prices they claimed that the houses were selling out and we would have to reserve quickly, I mentioned that perhaps they were living in a bubble and they looked like a dog that had been told a joke. I just walked away after viewing one nice house (400k) and one box.

Is this what all these sales people are like, I have no experience of them as I bought my current home without actually seeing it. (There is an explanation to this)

Are house prices not falling as quickly around this area (Perhaps I have it wrong) or is this what to expect from a sales rep.

The company is morris homes may be its just them.

Is this the norm?

Interesting i was born in st helens, a town built on coalmines and glass production. Both near enough finished. I would suggest the average wage in the town is now £15000, now that pilkingtons have trimmed all the staff and beechams (powders) is no longer there. Quite amazing how a town like that now has shoeboxes for sale for a third of a million pounds..Quite incredible really.

Jonbvn

mr.broderick wrote: »

Interesting i was born in st helens, a town built on coalmines and glass production. Both near enough finished. I would suggest the average wage in the town is now £15000, now that pilkingtons have trimmed all the staff and beechams (powders) is no longer there. Quite amazing how a town like that now has shoeboxes for sale for a third of a million pounds..Quite incredible really.

That was I thinking Mr. B. HTH does anyone afford such prices in woolly-back country? Is the development especially built for footballers?

hethmar

Tom, see the other thread on here about Barratts lowering new build prices. I believe the one in question was £211k to start and was dropped when the OP said they had only £160k to spend. Its now been agreed as £154k with them.

Pobby

Morning Mr. B. Hope you are well sir. Thanked your post again, it`s good to agree from time to time. I know St. Helens quite well and would agree about it being a low waged area. I also live in a similar area and we have had some of the strongest hpi. I really do wonder what is holding this mad market up.

How is the motor trade? Sells of consumer electronics, my field, is still taking a beating.

hethmar

Son has had an offer accepted on a 2 year old repo flat (oops, luxury apartment) in Docklands. The offer is 50% under the original new build price. Bearing in mind the current situation I rang the development (they have another block "70% sold") and asked what discount I could get on one of the brand new flats with full river views. Just out of interest.

I got a similar reaction - a sort of choked laugh - and then a "we could offer up to £15k off the flats over looking the parking area".

Oh well - Im not keen on son buying at the mo but at 50% below 2 years back he should be fairly buffered against neg equity shouldnt he?

ToMonkey

I honestly don't understand the situation round here, like someone said the average wage around here is probably 15k or under.

All the houses on the estate with 4 beds were from approx 220k upto about 350k
I don't see who can afford that here. I paid 44k for my house and then built an extension for 20k. My house is double the size of the 250k ish ones.

I get well paid for this area and I couldn't afford one of these houses, they told me they were selling quickly and I would have to move fast to reserve my plot, I didn't even attempt to discuss prices I just left. We went on the opening day of the show house and for houses that were selling fast on opening day we saw 4 people.

They would have to reduce by a minimum of 30-35% for me to be able to afford one, the funny thing is, its not me being tight, its just economics of the situation. If I had money I would buy as I only want somewhere to live not to make a fast buck.

Everyone else must be in the same boat, surely these people will wake up to the truth of the matter, houses are just unaffordable.

alared

I went to look at a new build last week.
The asking price was £180k and when I offered £140k (house sold,ready to move immediately) the sales guy looked at me as though I`d just landed from planet Zogg.
Talk about gift-horse and mouth.
I await a phone call.

Conrad

Ive seen a few repossessed 4 bed detatched houses in the south east and east anglia comming up 50% cheaper than they price they were sold for.

You will have the last laugh, these twits are like the many that used to think me odd when I said (from about 2005) prices were bound to fall. Such people are like robots. I find the same with IT 'help' lines - they are nin a totaly different world and have no interest in customer feedback - they can only do the robotic process theyve been taught.