New build inflation

tbo127

I have seen 1 bed new builds (built by small local developers) in the EN5, N12 and N3 areas of London for between 350k - 375k. Some have balconies. Do these prices seem massively inflated with the average resale prices being 325k? The big house builders in the area are selling at 400k plus. 

hazyjo

What else can you buy for that money? A two bed? That would be a much better option if affordable. I wouldn't want to pay a £25k premium for a brand new 1 bed flat. Remember, as soon as you set foot inside, it becomes 'second hand' like everything else on the market.

How long do you anticipate living there? There's not much in the way of growing room! 

Do you know the areas well?

tbo127

hazyjo said:

What else can you buy for that money? A two bed? That would be a much better option if affordable. I wouldn't want to pay a £25k premium for a brand new 1 bed flat. Remember, as soon as you set foot inside, it becomes 'second hand' like everything else on the market.

How long do you anticipate living there? There's not much in the way of growing room! 

Do you know the areas well?

I don’t know how long I’ll be in it. I’m settled in the area and I know the area well but obviously I can’t predict future life circumstances.