Taylor Wimpey changed price on another Plot

zali87

CM66 wrote: »

I bought my new build back in 2007, row of 8 houses and i was the first person to buy.


I paid £195k and subsequently all of the other houses sold for less than mine.


9 years later this has not affected the value of my house at all (in fact mine is still valued higher than the others as i picked the best plot of the 8 available)


You havent 'lost' 5k and as you said you've been given incentives to compensate for the difference so i honestly think you are worrying about nothing.

There is no difference between my plot and the other plot, it is the next door house to mine. At the time of purchase all these plots were advertised at the same price. When we tried to negotiate on the price they advised that they will not reduce the price as it devalues the other houses. These are the exact words from the sales rep.

Crashy_Time

hazyjo wrote: »

New houses often carry a premium meaning when you move in, it's instantly second hand and if you wanted to sell 6 months later, it would be worth less than a new one next door.


Obviously old houses can drop in price too - but that's inflation. If the market/price drops, the new build price would drop too - not only with the premium, but also with inflation meaning it would suffer twice.


If prices increase, the old house would go up. The new house may still only increase back up to what they paid in the first place and not be worth more.

No, it is credit availability, interest rates and sentiment.

lisyloo

When we tried to negotiate on the price they advised that they will not reduce the price as it devalues the other houses. These are the exact words from the sales rep.

Present this argument back to them ideally naming the sales rep.
Are you trying to negotiate?
How are you getting on?

Crashy_Time

zali87 wrote: »

There is no difference between my plot and the other plot, it is the next door house to mine. At the time of purchase all these plots were advertised at the same price. When we tried to negotiate on the price they advised that they will not reduce the price as it devalues the other houses. These are the exact words from the sales rep.

The sales rep is being honest, one price drop will drop the price for the whole street/plot, but they will now quote "Market Forces" at you when you query this IMO. Best to just forget all about this and enjoy your house (or pull out if you still can/want to, as these plots are obviously going to get cheaper?)

zali87

Yes I went down on Monday to talk to them however the sales rep that we have been dealing with is on holiday for a week. The rep covering has contacted head office to put our concerns across. They close on Tuesday/Wednesday so will have to wait until Thursday for a response at the earliest.

hazyjo

Crashy_Time wrote: »

No, it is credit availability, interest rates and sentiment.

You really are missing the point. Obviously other things can make prices drop. I have never disputed that. But each would drop, and the new build would drop more for an extra reason.


Do I really need to go on any more...

Crashy_Time

hazyjo wrote: »

You really are missing the point. Obviously other things can make prices drop. I have never disputed that. But each would drop, and the new build would drop more for an extra reason.


Do I really need to go on any more...

Yes, you could explain your theory of inflation and house prices if you like, but the things I mentioned are the MAIN drivers of house prices, not just "other things".

hazyjo

Crashy_Time wrote: »

Yes, you could explain your theory of inflation and house prices if you like, but the things I mentioned are the MAIN drivers of house prices, not just "other things".

Not really the point I was making. I agree with you. I was just trying to simplify a point. If it makes you feel better, I shall re-word my para to provide a list, in order, of what things contribute to prices dropping LOL. Really, not the point of what I was explaining. Should have grouped it into a more vague heading rather than saying 'inflation'. My post had zip interest in what makes prices drop. I was just saying that they might. I really am boring myself now so not wasting any more time here.

Crashy_Time

hazyjo wrote: »

Not really the point I was making. I agree with you. I was just trying to simplify a point. If it makes you feel better, I shall re-word my para to provide a list, in order, of what things contribute to prices dropping LOL. Really, not the point of what I was explaining. Should have grouped it into a more vague heading rather than saying 'inflation'. My post had zip interest in what makes prices drop. I was just saying that they might. I really am boring myself now so not wasting any more time here.

The first point is that you don`t really know what contributes to prices dropping, so no point making a list, the second point is that mentioning "Inflation" just makes it more complicated, inflation in the general economy could make servicing mortgage debt harder, and lead to price drops, maybe, but an old (or any other type) house dropping in value would be deflation in house prices, which (maybe) could go hand in hand with general inflation in the economy (maybe) :rotfl:

hazyjo

Crashy, mate, please don't tell me I don't know what contributes to prices dropping when I've been through two recessions and owned 8 or 9 properties since 1991. You're just making yourself look like a tool. This is NOT the place for one of your irrelevant discussions. Why oh why can't that poxy block button work both ways...