New build overcharging

strawb_shortcake

ReadySteadyPop said:

Mustlovedogs said:

ReadySteadyPop said:

Mustlovedogs said:

secla said:

Mustlovedogs said:

No i get what you're saying completely.

I'm not considering buying at the price they have it up for, if I could achieve more for mine selling privately so it wouldn't increase my mortgage as and they'd reduce by say 20k then I'd consider it. But yep that's what I'm considering, holding off for a few months, see if they sell, if they do there we are then, if not would it be worth seeing how low they'd go. My brain is full from too much thinking:-) 

 
So the house is 200k over the odds but you would be happy with a 20k reduction ?

There must be something about the house/area that warrants the uplift in price, new builds fetch a premium but not that much of a premium and you seem willing to pay 180k for a different floor layout ?

I was considering it, but I think I'm slowly coming to my senses 🙂. There is nothing else about the area to warrant the uplift in price. I live a mile away and they keep telling me to be realistic about what my house would sell for 😳🫣 when pricing theirs 20pk higher than mine. The attraction was it was all new, with the layout i wanted. I wouldn't say it's 200k over the odds but they're telling me it's worth 200k more than mine. Which I definitely don't agree with. If I sold mine for 360k or even 340 (so 20 to 30ish k lower than independent valuation) and they reduced the other side it wouldn't seem so bad. I'd say it's certainly 50 to 100k overpriced (obviously not an expert) but compared to other similar houses for Dale and their sold prices in the area. 

They just sound like kite flyers, surprised there are any left, just goes to show how confused the public got with all the cheap debt flying around. Are you using apps like PropertyLog to track local asking price drops?

No, I didn't know about that app but I will have a look- thanks for the info 🙂

Not the only one but will give you a good feel for various areas.

https://www.propertylog.net/

Shame it is only rated 3.3 and you are unable to read the reviews. Will also cost some users £3 a month with no definition of what a heavy user is.
Think someone might be on commission...

BikingBud

strawb_shortcake said:

ReadySteadyPop said:

Mustlovedogs said:

ReadySteadyPop said:

Mustlovedogs said:

secla said:

Mustlovedogs said:

No i get what you're saying completely.

I'm not considering buying at the price they have it up for, if I could achieve more for mine selling privately so it wouldn't increase my mortgage as and they'd reduce by say 20k then I'd consider it. But yep that's what I'm considering, holding off for a few months, see if they sell, if they do there we are then, if not would it be worth seeing how low they'd go. My brain is full from too much thinking:-) 

 
So the house is 200k over the odds but you would be happy with a 20k reduction ?

There must be something about the house/area that warrants the uplift in price, new builds fetch a premium but not that much of a premium and you seem willing to pay 180k for a different floor layout ?

I was considering it, but I think I'm slowly coming to my senses 🙂. There is nothing else about the area to warrant the uplift in price. I live a mile away and they keep telling me to be realistic about what my house would sell for 😳🫣 when pricing theirs 20pk higher than mine. The attraction was it was all new, with the layout i wanted. I wouldn't say it's 200k over the odds but they're telling me it's worth 200k more than mine. Which I definitely don't agree with. If I sold mine for 360k or even 340 (so 20 to 30ish k lower than independent valuation) and they reduced the other side it wouldn't seem so bad. I'd say it's certainly 50 to 100k overpriced (obviously not an expert) but compared to other similar houses for Dale and their sold prices in the area. 

They just sound like kite flyers, surprised there are any left, just goes to show how confused the public got with all the cheap debt flying around. Are you using apps like PropertyLog to track local asking price drops?

No, I didn't know about that app but I will have a look- thanks for the info 🙂

Not the only one but will give you a good feel for various areas.

https://www.propertylog.net/

Shame it is only rated 3.3 and you are unable to read the reviews. Will also cost some users £3 a month with no definition of what a heavy user is.
Think someone might be on commission...

Bizarre assumption that people will only suggest something because they are being paid for it!

You can read the ratings and if you did there were people grading 1 star, suggesting that it was good until you had to pay. Paying seems fair in this day and age when you are required to pay for "news" via online "papers" or put up with endless adverts and click bait headlines. 

Otherwise there are more pages of 5 stars than 1 star reviews they were more rounded and considered the cost minimal in comparison to the benefits. Hence, 3.3 is just an arithmetical mean.

You could also try property tracker but this has fewer reviews also some commenting about it being useless and being abandoned by the developer.

Or you could just continue without trying to understand the house price history and omit that consideration from your due diligence when buying a house.

It seems the opinions here are frequently driven by dislike of the individual poster rather than objectivity and relevance.

Something that does appear in the property which might be in a different area but does show that new houses are not selling. They are not selling for the inflated prices that developers wish to charge and after nearly 2 years there are reductions to be had.

Which chimes with the Post Title "New Build Overcharging"

Herzlos

It's not that

BikingBud said:

Bizarre assumption that people will only suggest something because they are being paid for it!

It's not just that he's recommending it. He's blindly recommending it without context or willingness to elaborate, even where it doesn't make sense like here. It's pretty terrible spam because he doesn't even explain it's a browser extension so can't be getting much turnover.

From a quick search, the only times it's ever come up is when he or one of his other aliases has mentioned it, or a few people asking him about it.

He only comes onto the forum (and mumsnet, for some reason) to post 3 things:

"You should use PropertyLog"

"You should lower your house price"

"Something something bonds something market crash".

BikingBud said:

You can read the ratings and if you did there were people grading 1 star, suggesting that it was good until you had to pay. Paying seems fair in this day and age when you are required to pay for "news" via online "papers" or put up with endless adverts and click bait headlines. 

That explains it at least. I couldn't figure out why he was putting so much effort into spamming a free tool. My suspicion is that he's getting something for it but I'm not sure what. His lack of understanding of it at least indicates that he didn't write it so I wonder if he comissioned it or otherwise gets a share of profit.

jimbog

BikingBud said:

strawb_shortcake said:

ReadySteadyPop said:

Mustlovedogs said:

ReadySteadyPop said:

Mustlovedogs said:

secla said:

Mustlovedogs said:

No i get what you're saying completely.

I'm not considering buying at the price they have it up for, if I could achieve more for mine selling privately so it wouldn't increase my mortgage as and they'd reduce by say 20k then I'd consider it. But yep that's what I'm considering, holding off for a few months, see if they sell, if they do there we are then, if not would it be worth seeing how low they'd go. My brain is full from too much thinking:-) 

 
So the house is 200k over the odds but you would be happy with a 20k reduction ?

There must be something about the house/area that warrants the uplift in price, new builds fetch a premium but not that much of a premium and you seem willing to pay 180k for a different floor layout ?

I was considering it, but I think I'm slowly coming to my senses 🙂. There is nothing else about the area to warrant the uplift in price. I live a mile away and they keep telling me to be realistic about what my house would sell for 😳🫣 when pricing theirs 20pk higher than mine. The attraction was it was all new, with the layout i wanted. I wouldn't say it's 200k over the odds but they're telling me it's worth 200k more than mine. Which I definitely don't agree with. If I sold mine for 360k or even 340 (so 20 to 30ish k lower than independent valuation) and they reduced the other side it wouldn't seem so bad. I'd say it's certainly 50 to 100k overpriced (obviously not an expert) but compared to other similar houses for Dale and their sold prices in the area. 

They just sound like kite flyers, surprised there are any left, just goes to show how confused the public got with all the cheap debt flying around. Are you using apps like PropertyLog to track local asking price drops?

No, I didn't know about that app but I will have a look- thanks for the info 🙂

Not the only one but will give you a good feel for various areas.

https://www.propertylog.net/

Shame it is only rated 3.3 and you are unable to read the reviews. Will also cost some users £3 a month with no definition of what a heavy user is.
Think someone might be on commission...

Bizarre assumption that people will only suggest something because they are being paid for it!

advertising and spam are prohibited on the forum 

twopenny

Going back to the question by Mustlovedogs - just wait a bit.

My experience of watching new builds which is happening all over here is that people get carried away to buy something new and then living with it find it's not where they want to be for some reason. A couple of years is about normal before a few move out and the price is less.

Found the same about all the new estates going up here. All on green land. They are not selling. Many reasons. They are down right ugly in one case, on a 24/7 main road with dangerous exit, farm land may look pretty but it requires machines and dung spreading. Don't fit the profile of people wanting to move.

On my estate (tiny) one house did sell for £100k over what it should be because of health issues and location. Now the neighbour is trying to sell for the same price and its not even getting viewings despite being in a great spot and well renovated.

Mustlovedogs

twopenny said:

Going back to the question by Mustlovedogs - just wait a bit.

My experience of watching new builds which is happening all over here is that people get carried away to buy something new and then living with it find it's not where they want to be for some reason. A couple of years is about normal before a few move out and the price is less.

Found the same about all the new estates going up here. All on green land. They are not selling. Many reasons. They are down right ugly in one case, on a 24/7 main road with dangerous exit, farm land may look pretty but it requires machines and dung spreading. Don't fit the profile of people wanting to move.

On my estate (tiny) one house did sell for £100k over what it should be because of health issues and location. Now the neighbour is trying to sell for the same price and its not even getting viewings despite being in a great spot and well renovated.

Thank you, yes we've decided to walk away and consider our options for now

Bonniepurple

twopenny said:

Going back to the question by Mustlovedogs - just wait a bit.

My experience of watching new builds which is happening all over here is that people get carried away to buy something new and then living with it find it's not where they want to be for some reason. A couple of years is about normal before a few move out and the price is less.

Found the same about all the new estates going up here. All on green land. They are not selling. Many reasons. They are down right ugly in one case, on a 24/7 main road with dangerous exit, farm land may look pretty but it requires machines and dung spreading. Don't fit the profile of people wanting to move.

On my estate (tiny) one house did sell for £100k over what it should be because of health issues and location. Now the neighbour is trying to sell for the same price and its not even getting viewings despite being in a great spot and well renovated.

I think you’re spot on.  Round here there’s 2 big new estates, one on ex green fields (although while excavating they discovered a previously unknown Roman villa so clearly people have lived there in the past!) and one on the site of a couple of old factories.  The latter estate is an absolute nightmare because there’s not enough suitable parking (small garage and a short driveway ) so there is double parking.  There’s still some brand new places for sale but they’ve had a couple of price reductions because people know the issues.  There’s still first estate is a bit newer (still being built) and I think a lot of people are clinging on to the dream of en-suites,  no maintenance, all shiny and new.  In a couple of years they will have got fed up of the lack of facilities and the fact that the schools are just slightly too far to walk to.  Saying that, I know people who live there and they love it.

ReadySteadyPop

Mustlovedogs said:

twopenny said:

Going back to the question by Mustlovedogs - just wait a bit.

My experience of watching new builds which is happening all over here is that people get carried away to buy something new and then living with it find it's not where they want to be for some reason. A couple of years is about normal before a few move out and the price is less.

Found the same about all the new estates going up here. All on green land. They are not selling. Many reasons. They are down right ugly in one case, on a 24/7 main road with dangerous exit, farm land may look pretty but it requires machines and dung spreading. Don't fit the profile of people wanting to move.

On my estate (tiny) one house did sell for £100k over what it should be because of health issues and location. Now the neighbour is trying to sell for the same price and its not even getting viewings despite being in a great spot and well renovated.

Thank you, yes we've decided to walk away and consider our options for now

Good move.

ReadySteadyPop

BikingBud said:

Mustlovedogs said:

newsgroupmonkey_ said:

Mustlovedogs said:

ReadySteadyPop said:

Mustlovedogs said:

secla said:

Mustlovedogs said:

No i get what you're saying completely.

I'm not considering buying at the price they have it up for, if I could achieve more for mine selling privately so it wouldn't increase my mortgage as and they'd reduce by say 20k then I'd consider it. But yep that's what I'm considering, holding off for a few months, see if they sell, if they do there we are then, if not would it be worth seeing how low they'd go. My brain is full from too much thinking:-) 

 
So the house is 200k over the odds but you would be happy with a 20k reduction ?

There must be something about the house/area that warrants the uplift in price, new builds fetch a premium but not that much of a premium and you seem willing to pay 180k for a different floor layout ?

I was considering it, but I think I'm slowly coming to my senses 🙂. There is nothing else about the area to warrant the uplift in price. I live a mile away and they keep telling me to be realistic about what my house would sell for 😳🫣 when pricing theirs 20pk higher than mine. The attraction was it was all new, with the layout i wanted. I wouldn't say it's 200k over the odds but they're telling me it's worth 200k more than mine. Which I definitely don't agree with. If I sold mine for 360k or even 340 (so 20 to 30ish k lower than independent valuation) and they reduced the other side it wouldn't seem so bad. I'd say it's certainly 50 to 100k overpriced (obviously not an expert) but compared to other similar houses for Dale and their sold prices in the area. 

They just sound like kite flyers, surprised there are any left, just goes to show how confused the public got with all the cheap debt flying around. Are you using apps like PropertyLog to track local asking price drops?

No, I didn't know about that app but I will have a look- thanks for the info 🙂

I have no idea about this spam that he keeps pushing - and I'll probably end myself with a ban.

History of this user:
He sold his property in 2003 because of an impending price crash. He was previously known as "Crashy Time".
Moved into a bedsit in Edinburgh. Been there ever since. Keeps talking about the market. Quotes "bonds" and has been saying that the latest interest rates are a "dip" that will eventually shoot up, killing the market, crashing and all BTL landlords will sell up, making him a millionaire.

Ever since, he's told people not to buy property, because there's an "impending price crash" about to happen. Which of course history proves hasn't happened (although there was a dip around 2008)

He's literally just returned from "Gardening leave", having been banned a number of times and coming back with a different username.

I'd probably ignore most of his nonsense. Most of us on this forum know and the forum team don't have the nuts to ban him.

Ah ok. Thank you! Couldn't find the app anyway 🙂

Also bear in mind that people are quite willing to constantly denigrate others because they have a different point of view. I would suggest that you make your own mind up!

Property Log is an extension for chrome that will track house price reductions:



It does provide some interesting information about starting price and current asking price.

I would imagine that most people reading a site dedicated to money saving would be very happy with an app that shows house price drop history clearly ? You are right though, DYOR is the way to go, avoid reading too much into the advice you get on forums.

newsgroupmonkey_

As an aside, I use PatMa. It's actually designed for those looking to BTL, but it does an excellent job of showing you price drops. Entirely free.

And apparently, it gets 4.7/5 on Google Extensions.