has anyone pulled out of buying due yo current economy?

Grenage

lee111s wrote: »

The house we're buying It's a new build and strangely the same style of house less than 100m away sold 2 years ago for 15k more than we're paying.

New builds generally cost more, then immediately devalue, as they're no longer new.

Crashy_Time

Grenage wrote: »

New builds generally cost more, then immediately devalue, as they're no longer new.

Nothing to do with the property bubble bursting, bank woes, Brexit, the "threat" of Trump etc. then?

Grenage

I'm reasonably sure that new builds have always cost extra, that Donald Trump isn't running for President in the UK, that UK banks are ostensibly ok, and that brexit is going to affect places like London a lot more than the rest of the UK - an in the short term.

lee111s

Crashy_Time wrote: »

So houses in your area are dropping 15 - 20k to sell and the economic woe stuff is scaremongering?

No.

A house that is 18 months old, the same as ours sold about 8 weekss for for 266 (roughly the same as what it was bought for).

For some reason, the builders are selling them cheaper brand new.

The same builder is selling the same style of house as our new one, on a different estate about 1 mile away, argualby not as nice of an area, for 20k more than we're paying.

Even the girls in the sales office were puzzled by it, but they don't make up the pricing

Crashy_Time

lee111s wrote: »

No.

A house that is 18 months old, the same as ours sold about 8 weekss for for 266 (roughly the same as what it was bought for).

For some reason, the builders are selling them cheaper brand new.

The same builder is selling the same style of house as our new one, on a different estate about 1 mile away, argualby not as nice of an area, for 20k more than we're paying.

Even the girls in the sales office were puzzled by it, but they don't make up the pricing

You mean they are ASKING 20k more than you are actually paying?

needhouseadvice

OP I just bought a place thinking I should buy now in case there's a crash and it'll affect mortgages being given out. I had a very small budget for London. Now I think I made a mistake - I thought once I'd bought my place I wouldn't have to worry about what happens to the housing market for 2 years but every time I see a Brexit/economy headline my heart sinks as now I need to worry about prices dropping. If there is a recession (and there probably will be), you need to ask yourself if you want to be taking on so much debt at this time.

Unless you love the flat, pull out and wait.

glasgowdan

Crashy_Time wrote: »

You mean they are ASKING 20k more than you are actually paying?

Very few new builds are sitting around unsold or dropping in price to shift. But if you're a housing market expert you'd know that.

lee111s

Crashy_Time wrote: »

You mean they are ASKING 20k more than you are actually paying?

Yep, and that's what two of the houses have sold for on the other estate.

What I'm saying is, either I've got a good deal, or others have been ripped off

Crashy_Time

lee111s wrote: »

Yep, and that's what two of the houses have sold for on the other estate.

What I'm saying is, either I've got a good deal, or others have been ripped off

Or maybe you have all been ripped off?

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Or maybe you have all been ripped off?

Crashy is just upset, he's been made to look a little silly recently.

P.S do you really want to take housing advice off a man/woman who admits to never ever buying as it's a "ponzi scheme" instead they prefer to live in squats, HMO's and bedsits...... Just be careful who you listen to.