No one can predict the future, but.....

theartfullodger

Nope,anyone CAN predict the future, but rarely do any of them get it right.

Artful:.  Ex-rental property ready for marketing for sale 30 March.  Oh dear, bad timing.

These days money seems much less important than before....

Crashy_Time

blue_max_3 said:

It's hard to predict what may happen. But the fact that you and a few others have already raised this spectre, means that it is getting into the psyche. People are also pushing for a stamp duty suspension too (though I've seen no evidence this is being considered).
Ultimately, it's all about sentiment. The press loves to headline large drops and can really drive that sentiment. But maybe they have other things to focus on currently.
You'll have the same decision with any property you try to buy unfortunately.

Really? I thought it was the opposite TBH. For anyone in Scotland buying surely the grim economic predictions from NS this morning are giving cause for caution?

blue_max_3

Crashy_Time said:

blue_max_3 said:

It's hard to predict what may happen. But the fact that you and a few others have already raised this spectre, means that it is getting into the psyche. People are also pushing for a stamp duty suspension too (though I've seen no evidence this is being considered).
Ultimately, it's all about sentiment. The press loves to headline large drops and can really drive that sentiment. But maybe they have other things to focus on currently.
You'll have the same decision with any property you try to buy unfortunately.

Really? I thought it was the opposite TBH. For anyone in Scotland buying surely the grim economic predictions from NS this morning are giving cause for caution?

Well, things like this... https://www.housepricecrash.co.uk/forum/index.php?/topic/233280-daily-mail-are-house-prices-set-to-tumble/
If the talk is of plunging property prices, it makes good copy.

Crashy_Time

numbercruncher8 said:

I don't think much advice here will be useful as the lack of detail will force people to generalise. In fact it'l broadly break down into people that think prices will fall, so you should get a bigger discount, or those that people will think they will rise in the long run so it doesn't matter. There will be another bizarre view - you gave your word on a value, you should stick to it.

The only thing we can guess at is the purchase price, c.£500k, and that it is a new-build. So the current discount is around 3%. But we don't really know where that lies in relation to the wider market. Discounts on these things in one form or another are really common anyway (ie free furniture, discounted price, stamp duty paid, etc). IMO the initial price of many new builds means that they build in some room to offer one of these. So, if your discount is coming on top of a discount maybe thats good, if not then maybe not.

I think you are in a strong position, and you'll see signs such as 'last few remaining', but almost always all of them won't complete and for an estate of this size there will always be one or more properties on the market even if you wait some time.
What would say is compare the price paid to the local area, look at what the new-build premium is relative to an older-build place of equivalent sqft. Comparable properties are a big tell for me. For instance, if older style properties are going for £200k less, then I reckon a new-build is overpriced. Having new stuff is worth more, but not that much more to me.
If house prices are going to fall it isn't going to be linear, and IMO new builds are more likely candidates for a fall. Where I am looking I see new builds that are a few years old that are struggling to shift when being resold, because they don't get HTB.

Yes, HTB is also something to consider if thinking of selling in the future.