Persimmon homes to stop building new houses...

maninthestreet

...if only temporarily:

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=561741&in_page_id=1770

MUDGUTS

One of Britain's biggest property developers today scrapped building new homes, blaming the slump in the housing market.



In another body blow for the troubled property sector, Persimmon revealed its revenues were running 24 per cent lower this year after a further deterioration in the market over the past three weeks.


The Charles Church owner reported lower sales volumes and increased cancellation rates, adding that current conditions meant the housing market was likely to become more challenging.

I'd say that is quite serious.

twhurl

Persimmon are building a big development down the road from us

chickmug

MUDGUTS wrote: »

I'd say that is quite serious.

It is something that new builders do either on a site by site basis or overall. It means they wish to clear the backlog before creating more stock. It is an indication of the tough times though!

paula65

My husband is a bricklayer for David Wilson homes and they have stopped work on two sites he's worked on. They have just put a stop on a HUGE site local to us. NOBODY is buying and builders now will not release new plots for build until they are sold.

thriftybabe

My hubby is a subcontractor for Persimmon Homes/Partnerships. He has a few sites with them. There is a large site where there are no houses selling at all and they have suspended further build until they sell the 15 odd houses/flats that have not sold! Worrying time for all us that rely on houses selling to make a living!

zeeww_2

Paula65,

mind telling us which DWH sites your husband work at?

thanks!

ginvzt

Any trouble for Morris homes? I am interesting in getting one of their's and would love to get a 15% off!!!!

Jorgan_2

ginvzt wrote: »

Any trouble for Morris homes? I am interesting in getting one of their's and would love to get a 15% off!!!!

If you are serious about buying a property at the moment and can proceed quickly, you may be able to get the 15% discount, or more, now.

I know someone who walked into a site office at the end of October (two years ago), told them which plot he wanted and that he wanted to and could complete before Christmas. He asked them to give him their best price, they asked him to make an offer , which he refused. He told them to give him their best price and he would let them know if he was interested in proceeding at that price. A week later the builder came back with a best price of £450k, the buyer was shocked by this & agreed to proceed. The original asking price was £595k.

paula65

I know it's in Oldham but don't know what the site is called, sorry

terrierlady

40k is normal discount today IF your proceedable,;) dont ask for part exchange as most companies stopped taking them as second hand market is flooded.
Ask away.