Haggle on a New Build?

beingjdc

Premier wrote: »

What do you mean another 30%?

Probably quoting from what a large number of respondents to the last Royal Institution of Chartered Surveyors monthly market survey said.

storminbalder

Premier wrote: »

What do you mean another 30%?

Think you've been brainwashed by the unsubstantiated nonsence often posted on this site for too long. (unless I missed the fact it was in Northern Ireland where prices rose faster than the rest of the UK before the crunch)

See here for some real average figures posted earlier:
http://forums.moneysavingexpert.com/showpost.html?p=17677335&postcount=15

I thinks he means by a further 30%. You are being pedantic I think.

I personally feel that it will be substantially more than 30% anyway.

You'd do well to wait, you mark my words!

mirabelle

Why new build ?

There is an oversupply and many are standing empty. Developers in my area are facing putting their New Builds up For Let as they have been sitting on the market for over a year. These are luxury and standard builds in a good area.

New Builds are more difficult to sell on than older character properties and I would never touch them. Even after putting them up For Let the Developers still can't get any takers.

Premier_2

storminbalder wrote: »

I thinks he means by a further 30%. You are being pedantic I think.

I personally feel that it will be substantially more than 30% anyway.

You'd do well to wait, you mark my words!

Wrong sub-forum. You'll find your HPC mates & similar unsubstantiated doom mongerer's in the next sub-forum down

I think you'll find a further 10-15% fall is what most professionals in this business are actually predicting
http://www.homemove.co.uk/news/22-12-2008/nationwide-and-halifax-to-end-house-price-forecasts.html

http://www.telegraph.co.uk/finance/economics/houseprices/3885883/UK-house-prices-wont-recover-for-a-decade.html

hethmar

You really are at the top end of the market at those prices - take it you arent ftb? If you consider that prices have dropped by about 2% a month AND that the builders have added a hefty premium to a new build - that gives you some idea of the price to go in at. Houses at that sort of price arent going to have ftbs queuing up for them - so if you are able to proceed quickly, then take off even more.

SavingSteve

I did mention we are ftb. And those prices are pretty standard for 4 beds in Buckinghamshire.

Appreciate all the posts. Will be very useful in the next few months when we consider making our move.

I too agree that a further 30% is unlikely. Total 30% from beginning of 2008 is what I have read from experts.

Saying that it is very much dependent on the area, i.e some have more than 30 others less than 30, 30% is predicted as the average.

storminbalder

Premier wrote: »

Wrong sub-forum. You'll find your HPC mates & similar unsubstantiated doom mongerer's in the next sub-forum down

I think you'll find a further 10-15% fall is what most professionals in this business are actually predicting
http://www.homemove.co.uk/news/22-12-2008/nationwide-and-halifax-to-end-house-price-forecasts.html

http://www.telegraph.co.uk/finance/economics/houseprices/3885883/UK-house-prices-wont-recover-for-a-decade.html

What's a HPC?

I agree that most "experts" are predicting 15% fall this year!

SavingSteve

Is really a judgement call on how long people think this will last, that is what the discussion here seems to be.

I think we can all agree that current predictions suggest additional 15% declines in 2009, the real question being if 2010 will see a plateau or recovery, or if there will be further falls.

hethmar

Trouble is everyone is talking 30% off the peak August 07 price, with a newbuild there is no starting point to gauge the percentage from.

SavingSteve

Agree, though having been monitoring the area I think it is possible to compare like with like. I personally don't put too much of a premium on new vs existing builds, so would compare them with exisiting property prices, which we have been monitoring.