Benedict Posted October 24, 2007 Posted October 24, 2007 (edited) http://www.smartnewhomes.com/static/NewHom...dex/2007_08.doc -1.1% MoM, -0.6% last 3 months, nothing exciting there. Month on month change for penthouses though will be true bear food - a 10.5% drop! Seems people are finally realising that although an apartment on the top of a tower block is technically a penthouse because it's on top, it's still on top of a shithole. Slight increases for detached & town houses though, hopefully will send signals to builders to build stuff people actually sodding want. EDIT - thought I'd change the title, I'm surprised nobody's interested, considering all the bears have been looking forward to YoY falls. Edited October 24, 2007 by Benedict Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 Actually all the regional London stats are bear food too - a 15.3% YoY drop! Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 (edited) Still nothing? You bears normally swarm to even the most mildly bearish news and would fill a thread with a news article about Kirsty Allsopp worrying that her new trousers make her look fat with deranged assertions that this is the unequivocal sign of the apocalypse and only the true believers will be saved, and yet solid statistics backing up the dire situation for new builds in London with real YoY figures are ignored. Edited October 24, 2007 by Benedict Quote
Guest d23 Posted October 24, 2007 Posted October 24, 2007 Still nothing? You bears normally swarm to even the most mildly bearish news and would fill a thread with a news article about Kirsty Allsopp worrying that her new trousers make her look fat with deranged assertions that this is the unequivocal sign of the apocalypse and only the true believers will be saved, and yet solid statistics backing up the dire situation for new builds in London with real YoY figures are ignored. I can't get any figures from the link you provided; getting file corrupted error messages Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 I can't get any figures from the link you provided; getting file corrupted error messages Really? Try going to http://www.smartnewhomes.com/content/newhomesindex.aspx and reading the latest new homes index from the link in the september 2007 article, you'll need word though. I've uploaded the file here too, let me know if that works. 2007_08.doc 2007_08.doc Quote
Disillusioned Posted October 24, 2007 Posted October 24, 2007 http://www.smartnewhomes.com/static/NewHom...dex/2007_08.doc-1.1% MoM, -0.6% last 3 months, nothing exciting there. Month on month change for penthouses though will be true bear food - a 10.5% drop! Seems people are finally realising that although an apartment on the top of a tower block is technically a penthouse because it's on top, it's still on top of a shithole. Slight increases for detached & town houses though, hopefully will send signals to builders to build stuff people actually sodding want. EDIT - thought I'd change the title, I'm surprised nobody's interested, considering all the bears have been looking forward to YoY falls. Thanks Benedict. It looks like good bear news. Do you think it will make the news though? Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 Thanks Benedict. It looks like good bear news. Do you think it will make the news though? The nationwide three month figure got a whole column inch or so in CityAM or whatever that silly free business paper is, but not seen anything else so far. I'd say it definitely deserves coverage, there's clearly been a major issue on new builds for a while and it'd be nice for statistics about them to be properly dissemminated. Quote
PotNoodle Posted October 24, 2007 Posted October 24, 2007 Still nothing? You bears normally swarm to even the most mildly bearish news and ........ Sorry, Benedict - we are all down at the "Leeds Topless" club post, trying to think up jokes about knockers... be with you in a minute.... Quote
Disillusioned Posted October 24, 2007 Posted October 24, 2007 Sorry, Benedict - we are all down at the "Leeds Topless" club post, trying to thinkup jokes about knockers... be with you in a minute.... LMAO! Quote
Disillusioned Posted October 24, 2007 Posted October 24, 2007 Thanks Benedict. It looks like good bear news. Do you think it will make the news though? http://www.mortgagesolutions-online.com/pu...tml?page=478888 Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 http://www.mortgagesolutions-online.com/pu...tml?page=478888 Although it's again pretty sloppily reported . . . I suppose people can work out that any index from smartnewhomes is for new homes, but it'd be better to have it in the headlines for the slow of thinking (90%+ of the population). Quote
Disillusioned Posted October 24, 2007 Posted October 24, 2007 Although it's again pretty sloppily reported . . . I suppose people can work out that any index from smartnewhomes is for new homes, but it'd be better to have it in the headlines for the slow of thinking (90%+ of the population). I've emailed the author, pointing out the figures you quoted (I hope you don't mind), to see if she'll add them. Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 (edited) I've emailed the author, pointing out the figures you quoted (I hope you don't mind), to see if she'll add them. Not at all Anything that makes people think twice about paying three quarters of a million for a shoebox on top of a tower block with the lifts never working and always full of piss surrounded by an estate full of angry cannibals on benefits in the **** end of wapping because it's a "penthouse" is worth doing EDIT - angry cannibals on benefits, sounds like a bad punk band. Edited October 24, 2007 by Benedict Quote
bomberbrown Posted October 24, 2007 Posted October 24, 2007 Actually all the regional London stats are bear food too - a 15.3% YoY drop! Yum yum yum <burp!> GREATER LONDON £368,211 % change 1 month -2.9% % change 3 months -4.5% % change 12 months -15.3% Once London slides, the rest of the UK is toast!!! London is going to be the epicentre of GC2, 100% Guaranteed! Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 Yum yum yum <burp!>GREATER LONDON £368,211 % change 1 month -2.9% % change 3 months -4.5% % change 12 months -15.3% Once London slides, the rest of the UK is toast!!! London is going to be the epicentre of GC2, 100% Guaranteed! I'm surprised that new builds have done better in other areas, given the horror stories of leeds city centre executive apartments etc. Still, might just be a reflection of the unbelievably shitty quality of London new builds. And the fact that everywhere decent has already been built on in London so the later phases are getting progressively shittier. Quote
bomberbrown Posted October 24, 2007 Posted October 24, 2007 I'm surprised that new builds have done better in other areas, given the horror stories of leeds city centre executive apartments etc. Give it time, London leads the way. This time next year new builds will be falling across the UK too. Sentiment, as well as people it would seem from that report, is/are seeping out from London. Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 Give it time, London leads the way. This time next year new builds will be falling across the UK too. Sentiment, as well as people it would seem from that report, is/are seeping out from London. I definitely think new builds will take the brunt of the damage, along with ex local authority places where people temporarily were blinded to the fact that they were still ex council. Quote
Flopsy Posted October 24, 2007 Posted October 24, 2007 (edited) Another reason why a Penthouse may not be selling very well is that some builders have stopped putting lifts in their new build flats. This means a walk up 2, 3 stories whatever for the lucky new owners. Whilst this may be good for the "keep fit" brigade but a lot of people buying new build flats are the elderly downsizing and a lack of lift means that these flats are not suitable or accessible. I'm disabled which is why I've been looking to buy a flat with a lift. Saw 2 in Surrey (the EA lied about the lack of lift to get me there) and they are still on the market months later. One has had a price reduction but not much. Will be interesting to see what happens in the new year. Another in Surrey did sell but under the asking price and it took a very long time to go. Another I saw in London fringes (very outer) was built by Barrets and had no lift to the top (3rd floor). The council did query this in their planning application but Barrets managed to push this aside. The flat was bought by someone who appears either a BTL or a flicker. It's now completed and still sitting on the market. Another interesting thing with the new builds I viewed was that some developers had stopped putting gas into the flats. They were all electric. When I asked the developers about this they said that as many buyers would be BTL, the LL's didn't want to keep paying for a gas safety check yearly and so they just stopped putting in gas. Edited October 24, 2007 by Flopsy Quote
Flopsy Posted October 24, 2007 Posted October 24, 2007 Something about the ex-council flats I've noticed selling in greater London. These are being bought by the BTL market to put the Polish and other immigrent workers into. They buy flats on council estates and then rent out the rooms as multiple occupancy. I don't know why this is prevelant on ex-council flats. It may be that the leases are less stringent or they think that they will get less grief from the neighbours. A polish girl I was talking to had moved into one close to where I live. There was a fatal stabbing on the estate a short time back. She did not even realise that it was a council estate and is living in small flat sharing just one room of it with other girls. If this happened in a non-council building I can only imagine what the neighbours will say and do to drive this out. Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 Another interesting thing with the new builds I viewed was that some developers had stopped putting gas into the flats. They were all electric. When I asked the developers about this they said that as many buyers would be BTL, the LL's didn't want to keep paying for a gas safety check yearly and so they just stopped putting in gas. Interesting stuff . . . I think those BTLs will regret that decision should they ever come to sell. Quote
Benedict Posted October 24, 2007 Author Posted October 24, 2007 Something about the ex-council flats I've noticed selling in greater London. These are being bought by the BTL market to put the Polish and other immigrent workers into.They buy flats on council estates and then rent out the rooms as multiple occupancy. I don't know why this is prevelant on ex-council flats. It may be that the leases are less stringent or they think that they will get less grief from the neighbours. A polish girl I was talking to had moved into one close to where I live. There was a fatal stabbing on the estate a short time back. She did not even realise that it was a council estate and is living in small flat sharing just one room of it with other girls. If this happened in a non-council building I can only imagine what the neighbours will say and do to drive this out. Presumably mostly because they're a lot cheaper and many in their target market won't really appreciate just why they're so much cheaper . . . Quote
Guest DissipatedYouthIsValuable Posted October 24, 2007 Posted October 24, 2007 Still nothing? You bears normally swarm to even the most mildly bearish news and would fill a thread with a news article about Kirsty Allsopp worrying that her new trousers make her look fat with deranged assertions that this is the unequivocal sign of the apocalypse and only the true believers will be saved, and yet solid statistics backing up the dire situation for new builds in London with real YoY figures are ignored. According to the Kubler Ross Anticipation Cycle, I'm in the 'Yeah, I knew that was going to happen, obviously, whatever' stage Quote
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