Persimmon homes to stop building new houses...

Zammo

Spring bounce cancelled.

:beer:

Kez100

40k on what? 100k, 200k, 400k????

teabelly

I'm not surprised. They have had many an outing on watchdog recently which won't help. They consistently have the most complaints of any house builder which tells me they really need to get themselves sorted out before they go bust.

If the house were on at 180k with 40k off you are really paying market value. I'd want a buy one get one free to even bother with most of the new build tat that has been put up locally.

thriftybabe

This will have a major effect on all sectors of Construction. There is another local company that my OH has just finished a site on which has at least 25 unsold on it. One buyer for all 25 and has backed out!! This will also really affect all those supplying materials, trades in the industry. Again this is going to slow the economy with all us with less in our pockets.

natman

Hi Folks.
I work with apprentices who are mainly involved with construction. Since Feb 2008, all the new building sites i have visited have highlighted serious problems. Persimmon, barratt, langtree etc. Most of them have forced pay cuts for workmen. In addition i went to a site the other day and 4 new house plots had been created, the foundations in, but the developer was not going to finish them off as no one was interested.
I know i am not saying anything new here, but the knock on effects of this 'credit crunch' or mortgage crisis is very worrying.
No houses wanted, no houses being built, no workers needed, redundancys, no apprentices etc etc, the snowball effect is dangerous hey!!!

wymondham

Horay! - here's to fewer shoeboxes dotted about the place

Hopefully if this carries on, a very much unwanted development which was about to obliterate my town will now not go ahead....

The housing companies have had it very good for quite a while .... times are a changing..

thriftybabe

We have 4 apprentices and three of them are time served this year. However, if things do not change we are no going to keep them on or able to take on any further apprentices. Not good for Construction Industry at all. On the upside we have another business which does extensions which is not doing too badly at all at the moment

natman

Hi Thrifty babe, i agree its a shame.but also agree with you regarding how the industry that focuses on extensions/conservatories etc, seems to be holding up quite well, but a lot of these builders struggle to take apprentices on. But as i said before, this is just one tiny avenue of a snowball effect and the long term consequences might really be damaging. The government want to improve skills in construction, but i think with the construction industry being hit by all the financial misery, there may not be any trades that can offer young people a job to learn.............

m00m00

there's a new build development of 1 and 2 bedroom 'apartments' in the area I'm looking at

they were completed 12 months ago, and have been on sale ever since.

after a few months of NO interest, instead of dropping the price they started offering them as 50% shared ownership. This week, after still no interest, they have now started offering them as 40% shared ownership and reduced rent.

Rover

Kez100 wrote: »

40k on what? 100k, 200k, 400k????

~40k on ~200k asking. Interesting contributions from Terrierlady and Jorgan, how times change.

The above applys, as Terrier says, if you are cash/FTB/or sold buyer.
If not, most builders will still negotiate willingly.

Be aware, the markets have already 'pencilled in' >10% drops in real prices THIS YEAR. This trend will continue.