Redhill, Surrey - Watercolour Prices Down

[NewBuildBuyer]

Well, I have to say, I was quite surprised this weekend. After seeing the prices of their large detached homes, Mrs Hairy and I thought we'd see if we could P/Ex one of our houses at Watercolour and arranged a visit on Sat. well, there are absolutely none left...

That's right, all the 5 beds are gone. Did offer us a peak at the last 2 terraced 4 beds (at £449.995k) which we declined.

Didn't expect that.

They did say they have changed the plans for Stage 2 of the development (they were all large town houses) and to wait and see.

Quite purprised to be honest.

Wow! - actually lets rephrase that. Is this the Linden Homes properties?

If so they seemed to be selling quite well when I last went there. The Barrat Homes one's (which we were mainly looking at) was a different story (Not sure about Belway?)

Regardless though it is quite stunning that they are gone, who the hell was buying at that price!?!?

Had a question for you actually had to leave a message on your page because I cant send PM's.

It's basically around prices in Reigate/Redhill, I have in another thread around price drops so far, to come etc. Thought as someone who owns properties in and around the area you may have further knowledge and you dont seem to be one of the HPC 'It's going to drop 80%!' Never even think of owning your own home etc etc etc! mob.

Edited March 2, 2009 by NewBuildBuyer

[Accidental STR]

When we went to view on February 14th, all the big detached Linden homes had gone already and the biggest they had to offer was the one at £440k. As of last Wednesday, Barratts still had the 5-bed and 4beds available at £520k and £499k. Still well over-priced though.

[hairy]

Wow! - actually lets rephrase that. Is this the Linden Homes properties?

If so they seemed to be selling quite well when I last went there. The Barrat Homes one's (which we were mainly looking at) was a different story (Not sure about Belway?)

Regardless though it is quite stunning that they are gone, who the hell was buying at that price!?!?

Had a question for you actually had to leave a message on your page because I cant send PM's.

It's basically around prices in Reigate/Redhill, I have in another thread around price drops so far, to come etc. Thought as someone who owns properties in and around the area you may have further knowledge and you dont seem to be one of the HPC 'It's going to drop 80%!' Never even think of owning your own home etc etc etc! mob.

I cannot PM you either!

It has dropped in teh area, but mainly at the top end (600-1m). I have seen drops on smaller houses of around 10% which is what the EA's ahve also said. One thing of note is that last year a local EA was organising lets to sales at a 4 - 1 ratio and so far this year that has turned on its head and he is now selling 4 properties to one let organised. He's a good friend and has admitted it could be a blip, but Jan and Feb have been god months in the area. On two properties I am going to sell, he's priced them and told me to expect 10% drops on these prices, but to sit firm on them; they are detached properties one 2 bed, one 3 bed. He is saying there is still a big market for these and lots of people are waking up to the fact it's looking fairly good for buyers at the mo. Like everything, mind, there were caveats i.e. this may be a blip, we may see more falls in late summer, but that for him, business was going well now, unlike the latter part of last year where he was considering laying off 40% of staff.

Prices, in the area, are probably at late 2006 prices and hovering. If you check in the indexes, R&B went up in price for certain properties in certain areas last Q.

It ws Linden homes properties; I had just started to think that their large 4 and 5 bed detached houses were looking good value and they had offered me £340k p/Ex a couple of weeks back so I talked Mrs. Hairy into buying into one of the houses overlloking the 'lagoon'. But as I said, all of them gone, all of them, with only the 4 bed terraces laft at £439,995 (not 450 as I said yesterday). I thought they were be climbing over themselevs given what I have heard on this board, but no, sold out; big smiles all round and stage 2 going ahead with plans changed.

Be happy to have a chat about the area anytime you like if we can organise a way!

I have my own views on R&B being unlike the rest of the UK in that it's 30 mins from both Victoria and London Bridge. 20 mns from Gatwick and 40 mins Heathrow, 30 mins from the coast. for someone like me, who travels an awful lot, it's pretty much a perfect location. I think that's reflected in the local 'macro economy'.

When the market recovers, it's places like here that will recover first, we're also experiencing less falls thus far.

As I said, drop me a lien if you can!

[NewBuildBuyer]

I cannot PM you either!

It has dropped in teh area, but mainly at the top end (600-1m). I have seen drops on smaller houses of around 10% which is what the EA's ahve also said. One thing of note is that last year a local EA was organising lets to sales at a 4 - 1 ratio and so far this year that has turned on its head and he is now selling 4 properties to one let organised. He's a good friend and has admitted it could be a blip, but Jan and Feb have been god months in the area. On two properties I am going to sell, he's priced them and told me to expect 10% drops on these prices, but to sit firm on them; they are detached properties one 2 bed, one 3 bed. He is saying there is still a big market for these and lots of people are waking up to the fact it's looking fairly good for buyers at the mo. Like everything, mind, there were caveats i.e. this may be a blip, we may see more falls in late summer, but that for him, business was going well now, unlike the latter part of last year where he was considering laying off 40% of staff.

Prices, in the area, are probably at late 2006 prices and hovering. If you check in the indexes, R&B went up in price for certain properties in certain areas last Q.

It ws Linden homes properties; I had just started to think that their large 4 and 5 bed detached houses were looking good value and they had offered me £340k p/Ex a couple of weeks back so I talked Mrs. Hairy into buying into one of the houses overlloking the 'lagoon'. But as I said, all of them gone, all of them, with only the 4 bed terraces laft at £439,995 (not 450 as I said yesterday). I thought they were be climbing over themselevs given what I have heard on this board, but no, sold out; big smiles all round and stage 2 going ahead with plans changed.

Be happy to have a chat about the area anytime you like if we can organise a way!

I have my own views on R&B being unlike the rest of the UK in that it's 30 mins from both Victoria and London Bridge. 20 mns from Gatwick and 40 mins Heathrow, 30 mins from the coast. for someone like me, who travels an awful lot, it's pretty much a perfect location. I think that's reflected in the local 'macro economy'.

When the market recovers, it's places like here that will recover first, we're also experiencing less falls thus far.

As I said, drop me a lien if you can!

Again very useful info thanks. Just to clarify I am not exclusively a NewBuildBuyer just made that name as I came on this site initially to query about the Watercolour.

We have put in a bid on a property in Reigate, probably around 25% off peak.

Some on here aside from the usual - 'Dont buy EVER! rent for the rest of your life!' mob, were actually saying there are/was large scale redundancies in Reigate and the property prices would probably take a massive hit - 30% more etc.

Clearly this seems way over the top and I think you have answered that question (unless you were refering more to Redhill?)

Regarding Watercolour, I was mainly looking at the Barrat homes as they were cheaper! They were definitely struggling to sell from my last visit anyway. They have now opened things up to the government HomeBuy scheme. Popped into Linden on my last visit and as you say they seem to be shifting plots.

It's interesting because there is probably not much in them from the build quality but maybe they are in a nicer part of the development. Also quite tellingly the gardens are bigger (which isnt saying much really!).

The Barrat one's of no interest? I reckon you may get a deal there.

[hairy]

Again very useful info thanks. Just to clarify I am not exclusively a NewBuildBuyer just made that name as I came on this site initially to query about the Watercolour.

We have put in a bid on a property in Reigate, probably around 25% off peak.

Some on here aside from the usual - 'Dont buy EVER! rent for the rest of your life!' mob, were actually saying there are/was large scale redundancies in Reigate and the property prices would probably take a massive hit - 30% more etc.

Clearly this seems way over the top and I think you have answered that question (unless you were refering more to Redhill?)

Regarding Watercolour, I was mainly looking at the Barrat homes as they were cheaper! They were definitely struggling to sell from my last visit anyway. They have now opened things up to the government HomeBuy scheme. Popped into Linden on my last visit and as you say they seem to be shifting plots.

It's interesting because there is probably not much in them from the build quality but maybe they are in a nicer part of the development. Also quite tellingly the gardens are bigger (which isnt saying much really!).

The Barrat one's of no interest? I reckon you may get a deal there.

I’d not be interested in the Barratt area as I think they’d yield less in rental; the Linden homes appear to be of a better quality from viewing them and are in a better location. I think for post £300k rental houses, you have to have another feather in the cap and the Linden ones look nicer and are in better plots; albeit smaller ones.

I suggested the top end of the Market is dropping in Reigate as a lot of people have over extended themselves in larger houses; 25% is still good. Most people, professionals, do not really work in Reigate, but up town. I still think most sectors are ok up town; the only industry I know being heavily hit is construction; housing. I know of QS, CE and Accountants for building companies coming onto the job market, but elsewhere, it still looks ok in the other sectors. Share dealers still making hay from the market; been seeing 30% on investment this year.

I just think, due to it’s location, it’s pretty secure place to live job wise; I think you’ll like the area.

[tinecu]

Sale prices crashing spectacularly in Redhill:

http://www.home.co.uk/guides/house_prices_...&lastyear=1

asking prices still lagging behind:

http://www.home.co.uk/guides/asking_prices...&lastyear=1

[hairy]

Sale prices crashing spectacularly in Redhill:

http://www.home.co.uk/guides/house_prices_...&lastyear=1

asking prices still lagging behind:

http://www.home.co.uk/guides/asking_prices...&lastyear=1

No they haven't

These figures are massively skewed to low sales. If you sell one detached house in Jan for £750k and another in November for 215k I think you can see how this can be sweked.

However, look at Reigate or Merstham and it could be seen to be all change:

Reigate last year

asking prices still lagging behind:

Reigate asking

Merstham

asking prices still lagging behind:

Merstham again

Redhill is a toilet; not always has been, but it is; we do not even go ou at night there anymore. Rough and full of hoody no hopers drunk on fumes and always looking to bitch slap or king punch someone.

Edited March 3, 2009 by hairy

[hairy]

Try Houseprices with this monkey thing you can check history

Here's reigate

Real Houseprices for Reigate

4, Flat 1, Wray Park Road, Reigate, Surrey, RH2 0DD has copem don 5% from peak in 2007

31/08/2007 £143,000

12/01/2009 £135,000

So from peak a flat has come down 5%

One anomaly

21/11/2008 £130,000

27/06/2008 £175,000

19/11/2004 £144,600

All others reporting gains

21.0%

Flat Flat Flat

[Accidental STR]

There was full coverage of the demo witnessed by NewBuildBuyer in the local paper, the Surrey Mirror, today (see http://www.thisissurreytoday.co.uk/news/Re...il/article.html ) Wimpey's won't be impressed

[NewBuildBuyer]

There was full coverage of the demo witnessed by NewBuildBuyer in the local paper, the Surrey Mirror, today (see http://www.thisissurreytoday.co.uk/news/Re...il/article.html ) Wimpey's won't be impressed

Just had a look, thought I might have been in there - 'Potential buyer in U-Turn!'

I laughed (out of shock really) when they were telling me the scale of the problems (we only stuck around to see what was going on), wife was having a go at me and almost in tears at their plight.

It is a very sorry situation though and hopefully they can sting wimpey's and bankrupt the b*stards!

This is the exactly the sort of thing that worries me about NewBuilds and despite the username (as explained before only signed up to hpc intially to jump on this thread and it was the first name to come to mind!) I am actually not a massive fan.

[ndf9876]

The problems the protesters are..well, protesting about - are not isolated to George Wimpey homes. There is a "consortium" of three developers - Barratt, Bellway and George Wimpey - all involved in the Park 25 development.

The district heating system is not the sole responsibility of one developer, or the management company either at the moment.

This makes it trememdously difficult when trying to figure out who to threaten with legal action...!

My experience with this has really left me jaded and I would be reluctant to buy a new build again. About the only good thing that came out of it, was that I got a lot of decent spec white goods thrown in. Still, for all the hassle I have had, it hardly seems worth it.

I could regale you with a whole host of problems with that development and the immediate area - from graffiti on the site to drunk teenage chavs who frequent the area in summer - but I won't bore you!

The person who said Redhill is a hole is right - the town centre and the Park 25 'end' is - but the back roads off Whitepost Hill are actually extremely pleasant. I used to rent there - in fact I rented three properties in the same road over the course of six years - my only regret is moving. At least it's close to Reigate, which can be a far more pleasant evening out!

[Accidental STR]

Sorry to hear about your problems. Getting a front page on the Surrey Mirror might sting them in to action. It was only the Wimpey homes which were mentioned in the article. Can you tell me whether there are also problems with the Barratt homes (apart from the hot water problem which is common to all 3 developers) as we still have a property in Watercolour by Barratts at the back of our minds?

[ndf9876]

Sorry to hear about your problems. Getting a front page on the Surrey Mirror might sting them in to action. It was only the Wimpey homes which were mentioned in the article. Can you tell me whether there are also problems with the Barratt homes (apart from the hot water problem which is common to all 3 developers) as we still have a property in Watercolour by Barratts at the back of our minds?

My flat is Barratts and to be fair, apart from some snagging issues (which although irritating are not at all dangerous or really even that serious) I have been told that the build quality on my flat is superior to the George Wimpey and Bellway flats - obviously from someone who was in a position to see properties from all developers and who I trust to be reasonably impartial.

The biggest complaint against them as a builder would really be that they gained unlawful access to my flat (and others on site) with an undeclared / undisclosed set of "master keys". The police were involved in this incident as it was reported (not by me) as a crime.

I have read people saying various things about the Watercolour estate and I am surprised. I have been there (looked at properties there a while back) and the place appeared to be rather pleasant. Still, Park 25 appeared to be 'rather pleasant' as well......

About the best thing I can say about the place is that my neighbours are all top-notch people; it's not full of bums / chavs but normal, hard-working professionals who don't make loads of noise and make a fuss.

Anyway back to your question - if I had a choice, when it came to builders, I would choose a Barratt home over, say, a George Wimpey home.

Edited March 6, 2009 by ndf9876

[hairy]

Just checked out rightmove for local prices as we're selling a couple of houses to fund the move back West and noticed Watercoliur prices up across the board, not much, 10-20k on the top end, but it does represent a 3-5% increase...

We've just had two houses valued, literally just now, and they're both up, one from 280 - 295 and the other from 340 - 350. Estate agent reckons we'll get 285 for the first and 335 for the other.

Anyone else in the area with similar, or opposite tales?

[Accidental STR]

If you have a look in the Anecdotals I posted re Reigate (still on front page) and the flurry in market activity lately. It's pretty much the same for Redhill, too. Quite a lot of houses are going under offer even those which have been on for many months. I guess that this might encourage EAs to start increasing prices although I have noticed that there have been several huoses which were rented out when they wouldn't sell have been coming back on 6-12 months later at greatly reduced prices e.g. £410>£350 after one year being rented out. So mixed messages really.

[Accidental STR]

Just a thought - do you mind saying which agent as it makes quite a difference around here?

[hairy]

Just a thought - do you mind saying which agent as it makes quite a difference around here?

Bairstow Eve's did the latest one, but we also had Connells and Cubitt and West value it and they're all around the same mark +/- 1ish%

[hairy]

Just checked this weekend and Watercolour prices up.

[rhodders]

Hi - just wondering whether anyone's had any further experiences (good or bad) of Watercolour.

My wife dragged me down there at the weekend and, although I wasn't expecting to like it, came away with mixed feelings.

Loved the space of (the inside of) Barratt's DALIs but was put off by a chat with a resident who bought one last year and has had nothing but problems since. He's resorted to sticking a list of all the snagging issues which Barratt's have failed to resolve on his kitchen window for all to see in the street. His impression was that Linden homes are far superior and their customer care is much better. Others seem to have had similar experiences:

http://www.grumbletext.co.uk/search.php?mode=results

Has anyone got experience of Linden's?

Although a large part of me thinks I must be mad to be considering buying one of these in the shadow of a landfill, I'm still a bit tempted!

[ReJoyce]

I'm a VI here as well, as I am selling one such house, but the point I am making is there. They have no garden space at all for the size of the houses they are.

Any luck with that sale you were doing?

cheers

J