New builds value

Ybe

Are these new builds good value? 

https://www.taylorwimpey.co.uk/new-homes/north-finchley/the-tramworks

cymruchris

How do you define good value?

TadleyBaggie

New builds are rarely good value, it's very common that if they are resold after 12 months or so it will be at a lower price than they were originally bought for.

Ybe

I’ve also noticed many new builds are reduced in price after 6 months or so on sale. Is this a common developer tactic? 

dinosaur66

i do not like new builds / so many snags /and i never touch leasehold flats /but thats only me and i no longer live in london / but in london you have little choice as virtually all new builds are flats.

as to the price they have a premium built in / albeit i see ex council 2 bed flats in the area are 400k plus and those flats you are looking at have much more kerb appeal / flats are hard to sell in most of london at the minute so you have time to asses

Silvertabby

It's all relative.

The £420,000 they want for a one bed/one bath flat would buy you a 4 bed/2 bath detached house with a decent sized garden where I live.  

eddddy

Ybe said:

I’ve also noticed many new builds are reduced in price after 6 months or so on sale. Is this a common developer tactic? 

I guess it's a tactic that many people who sells things use.

For example, you have a stock of fridges, hats, bikes or flats and you put them up for sale.

If you don't manage to sell them all after say 3, 6 or 9 months, you might reduce the price in order to shift whatever's left.

Obviously, if you manage to sell them all at the original price, you won't have any left - so no need to reduce your prices.

horsewithnoname

Most of the photos are not of the flats, that seems strange to me. 

As for that amount for a flat, well London prices are just insane!

DullGreyGuy

Silvertabby said:

It's all relative.

The £415,000 they want for a one bed/one bath flat would buy you a 4 bed/2 bath detached house with a decent sized garden where I live.  

And the new build block of flats near us are £850,000 unless you are happy with a studio. With a lounge, club room, roof garden and concierge service you know the service charge isn't going to be cheap

Ybe said:

I’ve also noticed many new builds are reduced in price after 6 months or so on sale. Is this a common developer tactic? 

Depends on how well they've judged the market and what other options they have. Around here a lot of new builds end up becoming rentals whilst the developer is trying to shift them but then they've in recent years put up hundreds of new apartments and the aforementioned flats above are the first step towards 3,000 new homes they're putting up around here. 

RelievedSheff

Ybe said:

I’ve also noticed many new builds are reduced in price after 6 months or so on sale. Is this a common developer tactic? 

We got our new build cheap because it was a completed house. They wanted if off their books. No use to them sat empty.

Jaybee_16

That's the old Homebase site. Decent amenities in the area and planning application in to build a cinema/ bowling alley and flats on the nearby Lodge Lane car park. Property price is probably expected for the area.