Yet another problem for property owners

lostinrates

baileysbattlebus wrote: »

According to Nationwide newbuilds are currently about 6.5% (Q1 2009) more expensive than other properties and over the last 10 years it has averaged around 8%.
You have to go back to the mid 1980's when the gap was around 20 - 23%.

People are happy to use Nationwide as a house price indicator so should be reasonably happy to use their figures for the price differentials between different properties.

I've never really looked at newbuilds in deatil: its not what I'm looking for, I just remember seeing negotiating powerfrom prevalent headlines. I don't know why the perception is that NB are overvalued...that man, like me, don't like the majority of them much might be indictive. I wonder if its more to do, on average with sqaure footage? (no idea what the average square footage is, or if there is a difference, it seems rooms are boxier though).

To me any house that comes with depreciation seems to suggest over valauing at point of first sale though!

lostinrates

Really2 wrote: »

Hi Thanks, I think it was just a stab to try to make out I had paid over the odds. I don't think anyone actually ever believed new build houses (not flats) were 30% more expensive than the equivalent established

Oh really, not at all, don't be precious, I don't stab

I do genuinely believe tyhere were headlines to this effect. that I cannot find them know suggests I might be worng...but I know I used this line a lot at the time with estate agents who didn't run away screaming, and indeed still phone and send details, depite the length of time I've been on their books.

Really2

lostinrates wrote: »

Nice try at what?
Having a quick google, I was wrong, 30-40% of all houses...not just newbuild.
http://www.timesonline.co.uk/tol/money/property_and_mortgages/article2963482.ece

But I am almost positive I rememebr headlines realting purely to newbuld and 30%.

I can't find what would have triggered this memory (almost certainly would have been linked via MSE though) it was none of these:

http://www.moneywise.co.uk/news-views/2008/02/04/new-build-properties-risk-negative-equity

http://www.lovemoney.com/news/mortgages/the-true-value-of-new-build-property-1820.aspx

http://www.lovemoney.com/news/the-property-ladder/avoid-this-property-peril-155.aspx

http://www.earth.co.uk/News/new-build-homes-do-not-always-lose-value-says-hbf_206.html

Though the last would seem to confirm what I was thinking, despite it being from the other side of the argument

I don't think their is any doubt newbuild apartments were over priced due to over supply (I think I said 50% drops for ne build appartments and 30% drop from nominal peak on the average property price).

Good job I purchased a house though, if you knew I purchased a new build you must have remember it was not a flat .

I look quite MSE at the moment is that a bad thing.

Really2

lostinrates wrote: »

Oh really, not at all, don't be precious, I don't stab

Really, who mentioned new builds then.:)

lostinrates

Really2 wrote: »

Good job I purchased a house though, if you knew I purchased a new build you must have remember it was not a flat .

Yes, I have a very poor memory but I remember the picture of your house. But, as I have already said, you were wrong in your rude accusation of my intention.

lostinrates

Really2 wrote: »

Really, who mentioned new builds then.:)

You are not the only buyer of new builds in the country, your is not the only solfd nor built.

I'm very surprised you think I'm gunning for you? Should I have a reason to?

Really2

lostinrates wrote: »

Yes, I have a very poor memory but I remember the picture of your house. But, as I have already said, you were wrong in your rude accusation of my intention.

Sorry if i was rude, but to state that new builds were 30% overpriced generaly I found rude. it made it sound like i had paid the same price as an equivelent established house.
That is simply not tru as i could still not buy an establish house for the same money/size.

lostinrates

Really2 wrote: »

Sorry if i was rude, but to state that new builds were 30% overpriced generaly I found rude. it made it sound like i had paid the same price as an equivelent established house.
That is simply not tru as i could still not buy an establish house for the same money/size.

You were rude. I did not refer to YOUR house, nor was I thinking of it! I am refering to my conception of media at the time.

Really2

lostinrates wrote: »

I'm very surprised you think I'm gunning for you? Should I have a reason to?

Pass, i don't want an argument if i am happy with what I have done. My initial plan was to retain as much of my collateral as possible, if it means I lost virtually nothing (virtually as i am not looking to sell) and got a great family home to raise our child and a cheap mortgage, great. It was better than what i thought was possible.
Time will tell, but I have never been the "buy now" bull in this china shop.
I have always said it is down to personal circumstances and I did what suited mine.

Really2

lostinrates wrote: »

You were rude. I did not refer to YOUR house, nor was I thinking of it! I am refering to my conception of media at the time.

Not accepting an apology is fairly rude also.:rolleyes:

Really2 wrote: »

Sorry if i was rude,

I have said what I think you have staed your case lets leave it their, as i said i ain't looking for an argument.