What would you do in our situation?

Crashy_Time

AdrianC wrote: »

So no new properties are selling, anywhere?
Or there's some specifically local economic/political situation that's affecting this particular development?

The economic/political backdrop affects the sentiment of potential buyers and lenders, and can`t be discounted so easily.

AdrianC

Crashy_Time wrote: »

The economic/political backdrop affects the sentiment of potential buyers and lenders, and can`t be discounted so easily.

Well, that said absolutely nothing, didn't it?

You missed my point completely, probably because it was a fairly awkward one for your "logic". So let me be a bit less subtle...

If the national economic/political backdrop is causing the lack of sales, then that would apply to all new builds all over the country, right?
Or maybe it's a purely local effect, caused by some local wrinkle? If so, then... well... as far as I can see, we don't even know where in the country the OP's talking about. Do we?

teddysmum

Cakeguts wrote: »

The green space is just that it is a green space it isn't a play ground. If you have a back garden then your children play there. If the back garden isn't big enough you should have bought a house with a bigger garden or take the children to a local park where there is a children's play area. Lots of new estates have open green spaces they are not play grounds. The play areas have play equipment in them. The green spaces are for anyone to enjoy. The original plan of the estate that you looked at before you decided to buy your house will have the areas that will contain children's play equipment marked on them. These will not be installed until the whole estate is finished.

I was just about to add that a grassed area does not mean a playground. Our estate, though the gardens are large and there are grassed verges up the central drive, as two large areas of greenery.


One has lots of trees,is an open space encircled by houses and has a number of signs saying that it is not a playground or that ball games are prohibited. The other is to the side, is just maintained grass surrounded by back garden fences and the outer boundaries of some allotments. This has a bar gate to keep out traffic (except the mowing machine ) and is designated for play.

Crashy_Time

AdrianC wrote: »

Well, that said absolutely nothing, didn't it?

You missed my point completely, probably because it was a fairly awkward one for your "logic". So let me be a bit less subtle...

If the national economic/political backdrop is causing the lack of sales, then that would apply to all new builds all over the country, right?
Or maybe it's a purely local effect, caused by some local wrinkle? If so, then... well... as far as I can see, we don't even know where in the country the OP's talking about. Do we?

Sentiment doesn`t apply all over the country in an equal measured dose to correlate house price drops exactly, in the same way that loose cheap credit doesn`t cause sentiment to create price bubbles in exactly the same way, but as I said the effect on sentiment of Brexit in particular can`t be ignored. "Sentiment" isn`t an exact science.

sparky130a

Crashy_Time wrote: »

"Sentiment" isn`t an exact science.

Bull5hit is though...

Wookey

As new estates fill up prices do tend to rise within them, they may also rise a bit on completion, house building is like every other manufacturing process it has up's and downs when it comes to demand. Sitting tight is the best thing to do probably from a monetary pov, if however it's having an affect on your families health then and only then consider selling up.

Sheep

We have decided to stay put. The fact that the houses are selling again now makes me think we may not have to wait too long for phase 2 to be built and the roads finished.

The house is lovely and we love the area. Its so quiet and the neighbours are great. The only thing bothering me was the lack of trust in the builder to finish the roads before completing a vanishing act.

I do have a question though and would love your thoughts. We are in a row of 3 and the 2 other houses on my row have just sold last weekend for the full price. I am in the middle of remortgaging as we are now staying put and I have put the valuation down as the same amount as the others have just sold for. I know new builds come with an added premium however would they really value a house any lower that 2 identical houses next store have just sold for?

AdrianC

Crashy_Time wrote: »

Sentiment doesn`t apply all over the country in an equal measured dose to correlate house price drops exactly, in the same way that loose cheap credit doesn`t cause sentiment to create price bubbles in exactly the same way, but as I said the effect on sentiment of Brexit in particular can`t be ignored. "Sentiment" isn`t an exact science.

Billy S had you sussed, didn't he?

Macbeth wrote:

...it is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.

Wookey

Sheep wrote: »

We have decided to stay put. The fact that the houses are selling again now makes me think we may not have to wait too long for phase 2 to be built and the roads finished.

The house is lovely and we love the area. Its so quiet and the neighbours are great. The only thing bothering me was the lack of trust in the builder to finish the roads before completing a vanishing act.

I do have a question though and would love your thoughts. We are in a row of 3 and the 2 other houses on my row have just sold last weekend for the full price. I am in the middle of remortgaging as we are now staying put and I have put the valuation down as the same amount as the others have just sold for. I know new builds come with an added premium however would they really value a house any lower that 2 identical houses next store have just sold for?

If you are in a row of 3 is your's an end terraced house, if so it would be slightly more valuable than the middle one but should be at or about the same value as the other end house, extra ground whereby one of the end houses is in a corner of the building site could affect pricing a bit as well.

It is highly unlikely that a competent builder would skip town and not complete a road, they have to submit bonds to local authority to guarantee that roads/sewers/services are all completed satisfactorily otherwise they would not be given permission to start a developement.

Sheep

My house actually cost 4k more because we get a garage. We bought for £147,000 and the other houses have just sold for £143,000. We also have a better view from our living room than the pther properties. The middle terraced house sold for the same amount as the end house (143)