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blankster

Development Update

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A few ago weeks I made a slightly bullish post about how one of the major national housebuilders had just begun work on a browfield development in Mytown, of around 100 dwellings. The developer even hired a shop in the town centre as a showroom. Within a week or two big signs appeared saying over 50% of the houses had been sold already, off-plan.

Yesterday I noticed the sales office was closed, with the desk and everything gone and bits of paper on the floor, but still with the window display intact. So I walked up to the new development. Work going on apace. The first 5 or 6 houses have been completed - with amazing speed. One of them is the show house, which could explain the closure of the town centre sales office.

BUT...The other 4 or 5 completed houses all had boards outside with plot numbers, but none said 'sold' or 'reserved'. So if 50% were already sold weeks ago, how come none of the completed ones appeared to be sold?????

The completed houses looked to be about the most desirable of the whole development, going by position and outlook.

Edited by blankster

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A few ago weeks I made a slightly bullish post about how one of the major national housebuilders had just begun work on a browfield development in Mytown, of around 100 dwellings. The developer even hired a shop in the town centre as a showroom. Within a week or two big signs appeared saying over 50% of the houses had been sold already, off-plan.

Yesterday I noticed the sales office was closed, with the desk and everything gone and bits of paper on the floor, but still with the window display intact. So I walked up to the new development. Work going on apace. The first 5 or 6 houses have been completed - with amazing speed. One of them is the show house, which could explain the closure of the town centre sales office.

BUT...The other 4 or 5 completed houses all had boards outside with plot numbers, but none said 'sold' or 'reserved'. So if 50% were already sold weeks ago, how come none of the completed ones appeared to be sold?????

The completed houses looked to be about the most desirable of the whole development, going by position and outlook.

Write to, or e-mail, the Office of Fair Trading about this. The OFT might be able to prosecute the company for making 'misleading statements' about the state of the market - if their claims that 50% of the properties have not been in fact been sold.

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