You are stupid if you buy a house now and you're under 40 (or wait for £60k - £100k)

clint_S

This will just make the premium price paid for older houses worse. The older houses around my area are a good 30% more than new builds, for the same sized house. People are actually paying £15K - £20K more for a year old new builds than waiting for a new build, the older the house the larger the price gap is.

marksoton

Eye2013 wrote: »

In fact I think that Starter Homes are a terrible policy as they are hugely unfair and funded by the taxpayer.

Compared to RTB it's hardly a bitter pill to swallow.

Jhoney_2

bouicca21 wrote: »

I think OP might be close buddies with someone called George - or, heaven forfend, George himself.

Given OPs opinion earlier in the thread, it was a good possibility that GO would be on the housing forum. :T

Better off slugging it out on the Debate House prices and the economy forum to see if your/Gov policy holds water OP, in fact you might want to send GO to this site ingeneral to make his economic policies in future - he doesn't have a clue how to save/spend taxpayer money.

I doubt if that is really his objective however...

Tyrone_Black

It's another awful policy, along with all the various Help to Buy schemes, designed to pump more money in instead of addressing the real problems.

That being said, I very much have my eye on this.

AnotherJoe

tomtontom wrote: »

The market price is set by the builder, so any discount is based on their overinflated price. In fact I'd say doubly inflated, new build prices are already inflated compared to older properties, and then the builder is free to set an even higher price to massage their profits/ market trends further. Added to which the builder has already benefitted from discounts in their actual cost of building the property.

Would you seriously recommend this as a good deal to someone?

Yep, anyone with shares in housebuilders

AnotherJoe

clint_S wrote: »

This will just make the premium price paid for older houses worse. The older houses around my area are a good 30% more than new builds, for the same sized house. People are actually paying £15K - £20K more for a year old new builds than waiting for a new build, the older the house the larger the price gap is.

How can this be??? We have some posters swearing blind that new builds are 25% more than established, and now others that established are 30% more than new build !

The latter seems very unlikely if its a proper comparison because why would builders turn down the opportunity to get an immediate massive jump in profit by matching older prices?

Can you post some examples from your area ?

MobileSaver

clint_S wrote: »

People are actually paying £15K - £20K more for a year old new builds than waiting for a new build, the older the house the larger the price gap is.

That defies all logic! Can you give a real example of this, comparing like for like of course?

Dan-Dan

freeisgood wrote: »

The prices for new builds around our way are eye watering...way over priced houses...crowded together and tiny rooms....houses in the next street are 50% bigger for 50% less.

Link please...find that hard to believe , you must be over egging it

MobileSaver

Eye2013 wrote: »

You are stupid if you buy a house now ... subsidised starter homes for those under 40 will be coming through in 12 or 18 months time.

So you are suggesting people put their lives on hold for 18 months on the basis of a possible 20% future discount on a house (which by then could possibly be 20% more expensive than today anyway?)

I think I know who's stupid here. :rotfl:

magicpork

To OP, this very bill was defeated in the House of Lords last month.

There bound to be some serious amendments if the government wants to pass the bill and no one knows what the end result will be and how long it will actually take to materialize