Lots of houses for sale - getting worried

becominganobsessivesaver

I was just after some opinions please. We have had an offer accepted on a house we love on quite a large new build estate, in not the most desirable area (but not the most horrible area by any means!) They started the estate in 2006, stopped for a couple of years, and are now nearing completion.
The house we are buying is at the end of a small cul de sac, has one direct neighbour and one house behind it (recently sold 4 bed detatched, just built). Almost all of the unbuilt plots on the site have been reserved.

The people selling to us are moving for schools (DD is already in a good close primary, so not an issue for us)
Anyway on this cul de sac of about 14, 6 houses are up for sale. We have visited several times and never noticed anything but quiet! All of the houses are really well kept etc. The offer we had accepted is 20% less than the list price of the new houses (same style).

My thinking is that some people have simply outgrown their houses in 6 years (some are smaller semis) or that schools could be the issue and that buyers are probably just buying the new houses, due to part ex etc, but there is a niggle that it could be something more sinister. The cul de sac was all sold before the recession hit, so unlikely to be HA houses.

We're not worried about resale, this will be our longterm home, and the plot would have been one of the more desirable on the estate (nice SW facing garden, double drive and garage etc.)

Anyway sorry for the ramble but opinions/reassurance much appreciated!)

19lottie82

Can you not do a bit of research? Look online or speak to neighbours?

System

Knock on doors and ask!

becominganobsessivesaver

I've spoken to people who know people who live on the estate and really like it (although one of these is now the house which is up for sale). There are a few sold boards which have gone up recently, which I suppose may be encouraging others to see if the market is moving. (the same happened when our house sold)

19lottie82

I wouldn't worry about the 20% reduction - chances are the first owners didn't pay the full list price when they bought it, the builders are usually open to a bit of negotiation. Also, you always pay a premium for a brand new property, they lose this immediately, like brand new cars.

hazyjo

Google the name of the estate and road. Also check the police.uk website.

I felt the same about buying on our estate - lots of pricey houses, and a huge development (we bought it around 8 years after it had been built), but we'd heard a couple of rumours there had been trouble with people driving round late at night with lots of police callouts. Been there 1.5 years and can honestly say there's been no trouble! We visited during the day and at night before buying and it was always very quiet.

Hope it turns out to be nothing! Sometimes you do find that when one board goes up, another one or two follow! Six does seem somewhat extreme though!

Jx

andy.m_2

When we sold our house there were about 3 or 4 that sprung up for sale literally 2 weeks later.
people get a sniff of what you got for it and think they'll have some of that.

Maybe the same effect?

becominganobsessivesaver

I've looked at the crime maps and there are only one or 2 reported on the whole estate per month, and a few anti social behaviour on surrounding streets.
I called a different branch of the agent selling our house, who have 3 houses for sale on the estate (we're not buying through them). Basically the said that 6 to 7 years is generally when new estates get a wave of sellers, and that the market is so slow as most of the vendors can't afford to match the offers being made by the builders so they sit there for sale. He was surprised we had bought a second hand one, but the price we got was below what the builder would have sold a newbuild for (we did speak to them).

Fingers crossed...

motherofstudents

We moved into our house in 2007. When we checked to see what sold prices were, there were only 2 houses sold in the previous 10 years and in the 5 years we have lived here there have been no for sale signs - until the last couple of months. Five went up within weeks of each other. I know there is nothing wrong with the area and I think these are probably people who have been wanting to sell but have waited to see if house sales would pick up.

I would definitely knock on a few doors and visit at different times but it may be nothing to worry about.

Mallotum_X

Go and see the other houses for sale, it might give you a feeling if they have out grown.

Have you been round to the road at various times, evening, early morning etc.

Check the police records as suggested above.