Resales and new builds becoming similar price in parts of London

Ybe

Is it normal that the price of resales in some parts of London seems to be catching up and becoming level with the price of new builds? 

davilown

It’s possible as people start to see they get more for their money with ‘older’ properties and less chance of ongoing fees

AdrianC

Nothing is "normal" about the current market.

getmore4less

90%/95% mortgages are back that opens up the alternative to a newbuild(H2B) if you have a small deposit.

Gentoo365

Not london, but South East.

I have seen this with houses but there is usually a reason.

Biggest one being that new builds don't have the same 'outside space' that people are apparently looking for. 

Also while developers do kind of know what price they can sell at, it seems that some sellers are jumping on the recent boom, seeing the crazy prices people are paying and trying to get some of that action.

Where I live I genuinely think people from London (and nearer London) are anchoring their ideas or value based in London. So for example they see a £550k terrace house in a fairly average area and think it's a bargain.