I'm Stunned

glen8

Next door neighbours just been around for a chat. Two weeks ago that asked how we managed to sell our house so quickly and we explained that we had done a part exchange.

She phoned the site rep who politely told her they were unable to help. I was a bit confused with this as I expected builders to be fighting for new customers.

We had a bit of spare time this morning so had a drive over for another look at our new house.

To my surprise ALL the developments are sold :eek: I'm not talking about the cheap 2 bed semi box houses.....even the big 4/5 detached are either sold or reserved.

I admit they had sold quite a few the last time we were over but now the rest have been snapped up.

Talking to the rep it seems a lot of people from down south have bought them due to its location to the main bypass

I wonder how many people down south are selling up and using their equity to buy outright at northern prices?

PasturesNew

BTLers? Their Pwoperdee (Dis)Investment Club cut them a deal maybe?

*jobags*

They may have been sold to a local RSL (Housing Association) who wil be letting them out to nominations from the Local Authority - they tend to buy job lots off the shelf to rescue developers from their follies

It's a bit early on in the crash yet for this to happen though but there is likely to be a lot of this going on over the next few years with speculative new build.

Jo

PasturesNew

*jobags* wrote: »

They may have been sold to a local RSL (Housing Association) who wil be letting them out to nominations from the Local Authority - they tend to buy job lots off the shelf to rescue developers from their follies

I've heard that this isn't happening. They've been turning them down in a lot of areas as the newly built houses don't meet the minimum quality and size standards that the HA insist on.

dmg24

Or maybe it is just a popular development and they have just been sold to normal buyers?

Some people are still buying!

Kez100

I reckon its all part exchangers who want to move but can't sell theirs. If most of the development had been sold, this way they can get rid of the rest and close down the site office etc, saving on the admin and leaving the P/Es with agents to sell on as fast as they can.

It will be interesting for the P/Es here to watch how theirs is sold and if they ever go to auction.

Kez100

dmg24 wrote: »

Or maybe it is just a popular development and they have just been sold to normal buyers?

Some people are still buying!

Not many. Half as many mortgage approved last month as the same month in 2007 - and many of those will be remortgages at the end of their fixed terms.

dmg24

Kez100 wrote: »

Not many. Half as many mortgage approved last month as the same month in 2007 - and many of those will be remortgages at the end of their fixed terms.

But still some ... maybe p/ex's, maybe people having to move from where they are now, maybe ftb's, or maybe people that just want to move for the fun of it!

*jobags*

PasturesNew wrote: »

I've heard that this isn't happening. They've been turning them down in a lot of areas as the newly built houses don't meet the minimum quality and size standards that the HA insist on.

You are quite right - and when they (RSL's) do buy them they bring horrendous housing management problems

Jo

poppy10_2

glen8 wrote: »

Talking to the rep it seems a lot of people from down south have bought them due to its location to the main bypass

I wonder how many people down south are selling up and using their equity to buy outright at northern prices?

I wonder how many people are making up silly stories :rolleyes:

Kez100

He'll find out when he moves in. Perhaps it's because they were underpriced, offered larger accommodation than could be expected locally, come with half acre gardens or private parking for three cars.