Get your money in Bricks and Mortar.But make sure its a House!!

Mustbeananswer??

I havent been in the Housing Market for 14 years and am shocked at how new build flats don't seem to increase in value anymore.Most places  I look flats have and are plummeting in price whereas Houses up until six months ago seem to be holding and in a lot of cases still improving in price.How much of this can we lay at the Grenfell door and how much was a natural disapproval to a mainly Leasehold existence where in a lot of cases  you lose control of your destiny ???

dimbo61

London has many many leasehold flats.
I would never buy a flat if there was any chance of buying a freehold house 

cymruchris

Mustbeananswer?? said:

I havent been in the Housing Market for 14 years and am shocked at how new build flats don't seem to increase in value anymore.Most places  I look flats have and are plummeting in price whereas Houses up until six months ago seem to be holding and in a lot of cases still improving in price.How much of this can we lay at the Grenfell door and how much was a natural disapproval to a mainly Leasehold existence where in a lot of cases  you lose control of your destiny ???

What's the update on your purchasing thread?

Mustbeananswer??

I can imagine any sort of Freehold property is extortionate in The Smoke dimbo61. 2 bedroom flats in excellent order are cheap as 60k where I am!! 

silvercar

I think the help to buy schemes have had an impact. Developers put up the price of FTB properties (often flats) knowing that those wanting to take advantage of HTB have to buy a new build and are therefore trapped into paying inflated prices. Once those FTB properties come on the market for resale, they aren't eligible for HTB and so the pool of interested buyers is diminished and so the price is lower.  It doesn't reflect anything other than overpricing of new builds.

lookstraightahead

I loved the lifestyle of living in apartments / flats. I rented a huge Victorian flat and would have bought it had the owner wanted to sell it. 

I would choose an old flat over a new build house (or flat) any day of the week.

Mustbeananswer??

cymruchris said:

Mustbeananswer?? said:

I havent been in the Housing Market for 14 years and am shocked at how new build flats don't seem to increase in value anymore.Most places  I look flats have and are plummeting in price whereas Houses up until six months ago seem to be holding and in a lot of cases still improving in price.How much of this can we lay at the Grenfell door and how much was a natural disapproval to a mainly Leasehold existence where in a lot of cases  you lose control of your destiny ???

What's the update on your purchasing thread?

It fell through as you predicted.Total hash up with Management Company/Estate Agent/Solicitors over an S20  that was in the Management Pack.Done me a favour really as there is plenty to buy Freehold at the sameish money.Philosophical about it all.Embarassing them into refunding my Solicitors Fees.It ended up the worst non-purchase I have ever done.I am not impressed with people in the property business at all !!! 

Mustbeananswer??

silvercar said:

I think the help to buy schemes have had an impact. Developers put up the price of FTB properties (often flats) knowing that those wanting to take advantage of HTB have to buy a new build and are therefore trapped into paying inflated prices. Once those FTB properties come on the market for resale, they aren't eligible for HTB and so the pool of interested buyers is diminished and so the price is lower.  It doesn't reflect anything other than overpricing of new builds.

Good explanation as always.....Elaborate con-trick !!

hazyjo

Pretty sure this falls under the great big box at the top of each thread saying not to discuss the market, etc...

cymruchris

Mustbeananswer?? said:

cymruchris said:

Mustbeananswer?? said:

I havent been in the Housing Market for 14 years and am shocked at how new build flats don't seem to increase in value anymore.Most places  I look flats have and are plummeting in price whereas Houses up until six months ago seem to be holding and in a lot of cases still improving in price.How much of this can we lay at the Grenfell door and how much was a natural disapproval to a mainly Leasehold existence where in a lot of cases  you lose control of your destiny ???

What's the update on your purchasing thread?

It fell through as you predicted.Total hash up with Management Company/Estate Agent/Solicitors over an S20  that was in the Management Pack.Done me a favour really as there is plenty to buy Freehold at the sameish money.Philosophical about it all.Embarassing them into refunding my Solicitors Fees.It ended up the worst mon-purchase I have ever done.I am not impressed with people in the property business at all !!! 

Good that you've reached a conclusion - and good that you've gotten yourself out of it. Might be worth updating your original thread as there'll be several that have contributed along the way that might like to know the outcome.

RHemmings

cymruchris said:

Mustbeananswer?? said:

I havent been in the Housing Market for 14 years and am shocked at how new build flats don't seem to increase in value anymore.Most places  I look flats have and are plummeting in price whereas Houses up until six months ago seem to be holding and in a lot of cases still improving in price.How much of this can we lay at the Grenfell door and how much was a natural disapproval to a mainly Leasehold existence where in a lot of cases  you lose control of your destiny ???

What's the update on your purchasing thread?

What is a purchasing thread? Are there any examples you're aware of that you could link to?