[OzzMosiz]

Currently over 2100 houses for sale in a 3 mile radius of Swindon
610 for rent.

[cheeznbreed]

now about 3300 for sale in a three mile radius, according to rightmove.
Hopefully it will be carnage, although much of the new build stuff seems to be listed at fantasy prices:

http://www.rightmove.co.uk/viewdetails-216...=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-219...=4&tr_t=buy

extreme examples, mind.
Where dya think this is- Newbury?
what a shower, eh?

[wheresitgone]

cheeznbreed, on Jul 29 2008, 04:01 PM, said:

now about 3300 for sale in a three mile radius, according to rightmove.
Hopefully it will be carnage, although much of the new build stuff seems to be listed at fantasy prices:

http://www.rightmove.co.uk/viewdetails-216...=2&tr_t=buy

http://www.rightmove.co.uk/viewdetails-219...=4&tr_t=buy

extreme examples, mind.
Where dya think this is- Newbury?
what a shower, eh?

I can't be sure but I think that second example used to be a solicitor's premises. Perhaps you get the conveyancing thrown in

[cheeznbreed]

wheresitgone, on Jul 29 2008, 08:00 PM, said:

I can't be sure but I think that second example used to be a solicitor's premises. Perhaps you get the conveyancing thrown in

LOL! Hopefully it will be 'Get your conveyancing done here, and we'll throw in a flat for free'

Seriously though, the new build prices are generally very high, yet searching the database for sales in many of the new build estates (primarily looking in SN1, so Okus road) there appear to be very few. I know a lot of the new build stuff may have been bought off-plan, but there are still plenty being advertised. Makes one wonder what sort of discount they will take to an unrealistic asking price. Some of them do not look like good deals until as much as 30% is lopped off. And that does not even account for the fact they will fall further! Nuts.

[wheresitgone]

cheeznbreed, on Aug 1 2008, 10:41 AM, said:

LOL! Hopefully it will be 'Get your conveyancing done here, and we'll throw in a flat for free'

Seriously though, the new build prices are generally very high, yet searching the database for sales in many of the new build estates (primarily looking in SN1, so Okus road) there appear to be very few. I know a lot of the new build stuff may have been bought off-plan, but there are still plenty being advertised. Makes one wonder what sort of discount they will take to an unrealistic asking price. Some of them do not look like good deals until as much as 30% is lopped off. And that does not even account for the fact they will fall further! Nuts.

Like someone mentioned on here, it could be very risky to buy a new build as what is to stop the Gov't buying up some of these units to place who knows who in them?

[cheeznbreed]

wheresitgone, on Aug 1 2008, 10:57 AM, said:

Like someone mentioned on here, it could be very risky to buy a new build as what is to stop the Gov't buying up some of these units to place who knows who in them?

Very true, which adds more downside. I suspect they wont be able to get half the price for some of them. The only thing that separates these new build estates from the chav hellholes we all know is the fact the chavs are priced out. They look similar in layout etc and have just as few amenities. Stick a few chavs in and watch it descend into chaos. Before you know it, there will be gobby children and oily dogs on every corner.
I mean, look at these:

http://www.rightmove.co.uk/viewdetails-224...=1&tr_t=buy


http://www.rightmove.co.uk/viewdetails-216...=1&tr_t=buy

they seem to be in another world. Where would you start negotiating from? Half price?

[wheresitgone]

cheeznbreed, on Aug 1 2008, 11:26 AM, said:

Very true, which adds more downside. I suspect they wont be able to get half the price for some of them. The only thing that separates these new build estates from the chav hellholes we all know is the fact the chavs are priced out. They look similar in layout etc and have just as few amenities. Stick a few chavs in and watch it descend into chaos. Before you know it, there will be gobby children and oily dogs on every corner.
I mean, look at these:

http://www.rightmove.co.uk/viewdetails-224...=1&tr_t=buy


http://www.rightmove.co.uk/viewdetails-216...=1&tr_t=buy

they seem to be in another world. Where would you start negotiating from? Half price?

It's generally accepted that the price for new build is higher than that for resale property. However, unless you really want to live in a brand new flat, you can purchase a decent house for less than £200K, with a garage and garden. I think at the moment, property companies prefer to shout for Government bailouts rather than be realistic.

[cheeznbreed]

wheresitgone, on Aug 1 2008, 11:58 AM, said:

It's generally accepted that the price for new build is higher than that for resale property. However, unless you really want to live in a brand new flat, you can purchase a decent house for less than £200K, with a garage and garden. I think at the moment, property companies prefer to shout for Government bailouts rather than be realistic.

yeah, A very good resale property can be had in a good part of town with change for 200k. I suppose it's like buying a new car- you pay a premium to be the first in it. I just can't see people coughing up these asking prices though, and the new stuff certainly has none of the charm of the period property which is common in the old town. I suppose with rising energy costs, good insulation will be looked on favourably. In the last place I rented, 'The Whytes' new build SN2 1FE, the heating never went on once over winter. remarkable insulation. I definitely wouldn't buy there though.
I suppose I'm hoping that the glut of new build will bring down decent properties' prices with it. They have a hell of a lot to shift up Okus Road way. They're starting to sell the Wychelstowe off plans too, goodness knows how much of that there is. happy to sit and wait for the moment.

This post has been edited by cheeznbreed: 01 August 2008 - 11:22 AM

[cheeznbreed]

Also, Wiltshire is the county with one of the lowest accepted:asked price ratios of 89.7% according to the Times/Hometrack:
http://timesbusiness.typepad.com/money_web...ry-by-coun.html

[cheeznbreed]

Look at these prices for a 2 bedroom flat in Brunel Crescent (sn2 1FE):

http://www.rightmove.co.uk/viewdetails-104...=1&tr_t=buy
http://www.rightmove.co.uk/viewdetails-201...=1&tr_t=buy
http://www.rightmove.co.uk/viewdetails-190...=1&tr_t=buy

According to property bee, they were all listed in May, and the price is roundabout what they were sold for (believe about 165k, although will vary slightly)

now these two, listed about 10 days ago:

http://www.rightmove.co.uk/viewdetails-222...=1&tr_t=buy
http://www.rightmove.co.uk/viewdetails-107...=1&tr_t=buy

whopping drops. I appreciate there will be different specs, but all 2 bedrooms. I used to live in Brunel Crescent; indeed I was the first person to live in the flat since it was bought as a BTL. They are generally well specced flats, with the en-suite etc but there is no way I'd pay 160k for one. In fact I would not pay triple figures. Location is pretty bad, beside busy road. Properties such as these are ripe for large drops in my view. Just a BTL ghetto.
I'll be keen to see how quickly the other prices come down, and whether the cheaper ones shift. Problem is, they are still not sufficiently discounted to the Old town prices to make them attractive.

EDIT: Bovis ain't sold them all yet, either:
http://www.bovishomes.co.uk/homes/index.cf...amp;devID=WSWWR

This post has been edited by cheeznbreed: 03 August 2008 - 10:24 PM

[cheeznbreed]

now ~3450 properties for sale within 3 mile radius of Swindon- 4% up in under a week.

[pokissimo]

Can's see anything but carnage for flats in swindon: 200K for a 2 bed flat is laughable...

1) there's over-supply (as everywhere). Rents clearly dont support that even if you assume that all you want to do is cover the interest portion of 75% of the asking price...

2) actual "house" prices aren't anything like as over-inflated as some places: For under 200K you can potentialy get a 3 bed semi with 100ft garden in a good area of town:

3) New build sales appear to be slowing: Wichelstowe doesnt exactly appear to be racing ahead from what I can tell driving by on the M4...those companies are going to want some returns soon. Dont know if they'll ever finish "the amythist quarter" development at the top of marlborough road - obviously with cotswold devp's having gone bust I feel sorry for the few people that are living there and have a view of a 3/4 completed block of flats with scaffolding all over it...

I'm keeping an eye on the "bath building" on bath road to see what the future holds: every so often they pop up for sale for less than was paid for them, then they appear to get rented out again: This seems to have been void for a while though:

http://www.rightmove.co.uk/viewdetails-200...1&tr_t=rent

9,000 a year of rental income gets you a workable yield at what? a sale value of about 120,000 (being very generous). So thats about 50K less than was paid for it...

[cheeznbreed]

pokissimo, on Aug 4 2008, 11:28 AM, said:

Can's see anything but carnage for flats in swindon: 200K for a 2 bed flat is laughable...

1) there's over-supply (as everywhere). Rents clearly dont support that even if you assume that all you want to do is cover the interest portion of 75% of the asking price...

2) actual "house" prices aren't anything like as over-inflated as some places: For under 200K you can potentialy get a 3 bed semi with 100ft garden in a good area of town:

3) New build sales appear to be slowing: Wichelstowe doesnt exactly appear to be racing ahead from what I can tell driving by on the M4...those companies are going to want some returns soon. Dont know if they'll ever finish "the amythist quarter" development at the top of marlborough road - obviously with cotswold devp's having gone bust I feel sorry for the few people that are living there and have a view of a 3/4 completed block of flats with scaffolding all over it...

I'm keeping an eye on the "bath building" on bath road to see what the future holds: every so often they pop up for sale for less than was paid for them, then they appear to get rented out again: This seems to have been void for a while though:

http://www.rightmove.co.uk/viewdetails-200...1&tr_t=rent

9,000 a year of rental income gets you a workable yield at what? a sale value of about 120,000 (being very generous). So thats about 50K less than was paid for it...

yes, I agree.
1. 2 bed flats are all over the place. Bovis are having a laugh trying to shift the next phase at 189k. Everyone will have to go to 125k to be competitive, and then they are merely 'in the game' If they REALLY want to sell...
Brunel Crescent is exactly the sort of development that exemplifies the bubble. Crappy location, almost completely homogenous ( mostly 2 bed ghetto, almost everyone I spoke to in there was renting from a BTL landlord) and silly-season prices. My landlord paid ~165k for the opportunity to earn £575/month rent.

2) yes, there are decent houses to be had at decent prices. Unfortunately, the swathes of new build which will have to be dumped onto the market sooner or later will surely depress prices a great deal.

3) The 'off-plan' prices at Wychelstowe are totally daft. It does not bode well for the area.

I wonder what sort of discount to asking a developer would take if offered. I am in no hurry to get involved, but if the price was good enough I'd consider it. Swindon has a crazy amount of new build property, and it all has to go sometime. Happy days ahead..

[cheeznbreed]

Look at two bed terraces in the old town starting to appear sub 125k:

http://www.rightmove.co.uk/viewdetails-223...=6&tr_t=buy
http://www.rightmove.co.uk/viewdetails-181...=6&tr_t=buy
http://www.rightmove.co.uk/viewdetails-210...=3&tr_t=buy
http://www.rightmove.co.uk/viewdetails-224...=5&tr_t=buy

Surprisingly there are similar properties in the Manchester road area going for similar asking prices. I know where I'd rather be..
If the decent Old Town stuff is coming down to undercut similar property in much worse locations, the others will have to follow suit soon. Surely the ONLY reason you would buy in Manchester road area instead of Old Town is the price difference.
It also makes all these new build two bed flats look well overpriced, ensuite or not.

[athlete]

What do people think of the prices of the terrace houses in Avenue road, old town? I like the area but think even if house price fall or not they are well over priced. Anyone have any guesses of what the houses will be going for early next year?

I am renting at the moment and watching the houseing situation with a deposit ready to make an offer - but how long to wait and if I make an offer how much below the asking price?

cheers