Collapse in new house building.

lukeh23

jjlandlord wrote: »

Creating urgency is a standard sales tactics.
That's why you see all these "Quick, sale ends soon".

New builds are also usually overpriced when put on the market.

That's all can be said of your experience, really.

They were going up in value, and that trend has reversed and now prices are dropping.

What part of that don't you understand or prefer to deny?

wotsthat

lukeh23 wrote: »

They were going up in value, and that trend has reversed and now prices are dropping.

What part of that don't you understand or prefer to deny?

I've been interested in a new build estate near me and set up an 'alert' on Rightmove. Prices seem to change on a weekly basis because the builders know this will generate a new alert and it blurs what the market price should be.

The estate has been on the go for a couple of years now and I can't find a sale at the asking price. i.e. monitoring new build asking prices won't show too much because a) they're choppy and b) no one pays asking price ever.

It's reporting season for the big builders at the moment and they're reporting they're getting higher prices compared to a year ago. Persimmon have reported this morning - forward sales for spring are also up 5% compared to a year ago.

Where are you looking? Your evidence (marketing texts/ changing prices) doesn't show prices have fallen from this time last year.

P.S. people selling stuff always try to make out their widgets etc are selling like hot cakes and now is the perfect time to buy.