Tuesday, Jul 11, 2006
New flats take a tumble
Home.co.uk: New home prices fall - dragged by apartments
A glut of new flats on the market has caused developers to cut prices. In doing so the avarage price for all new homes has dropped.
Posted by tinecu @ 12:58 PM (168 views) Add Comment
6 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. bidin'matime said...
Surprise, surprise. Economics in action. Should be good news for single FTB's. The rest will have to wait a bit longer while the effect moves up through the market.
2. inbreda said...
await the backlash when the PR departments in the VIs gain motion
"AFFORDABILITY IMPROVEMENT CAUSES EXPECTED FLOOD OF FTBs BACK TO THE MARKET CREATING IMPROVING FUNDAMENTALS AND MASSIVE PRICE INCREASES AND HOUSES ARE THE BEST INVESTMENTS"
3. Gregzki said...
Hi Bidin
New 2 bed flats are on the market where I live for over £250K and lots of them. Spoke to developer at the weekend and no incentives are been offered as there is no need. This is an obvious stretch for single FTB's - Amazingly, a couple of these are up for rent at circa £900pcm - the developer assured me that this is a good return!?
4. Bubbles. . . . said...
iNBREDA I agree with that statement...But affordability wont happen unless we all have major pay rises...average wage is 27,500 ok im on 50K but still not buying into this market at present its toooo over inflated with speculators BTL...Certainly dont want to support that...Hey wont that just mean more BTL apartments..Keep building that portfolio REALLY cant go wrong in property think thats a flash back to 89 when the same thing was said...Wot happened then we all know from the graph on this site.....
5. Superruss said...
interesting to see how in this article they go to great pains to explain that its only FTB cupboards - sorry apartments - that are dropping in value.
Yet we dont get such a tentative breakdown when London seemingly artifically inflates the rest of the UK market for a few months...
6. Sloth said...
Bubbles,
just ask any Dot com investor, yeild doesn't matter any more.