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gruffydd

Prices Of New Builds Slashed

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Just spoken to a large house builder and they've slashed prices on some developments - mentioned 30-40k off on 4 beds and 8k on 3 beds. Loads of other incentives. Anyone else got examples of major price cuts and incentives?

Edited by gruffydd

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Loads and loads of examples round here. Developers are getting desperate. But, and this is the best sign I have seen to date, in my local High Street a big development site is lying dormant. Demolition is done, petrol tanks removed (yes, used to be a garage - this is the last one in the town - now there is no petrol for 3 miles - they are all blocks of flats now) but no-one building or doing anything for months.

Just like last time.

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Mrs Gavin said she saw an advert for new builds that said if you signed up by the end of the week you get a new plazma TV.

I know we have seen this crap before, but its worth noting.

I think when imagining the dream, people want a house and a plazma nowadays. Its replaced life as a concept.

I mean if the plazma costs 2k, and you are a bit strapped for cash, its obvious that you should have the TV instead of a discount.

It would be difficult to plot discounts of weeks away in Portugal, Plazma TVs and the mini cooper axis all the same graph from the land registry figures wouldn't it.

I will have 2 pints of spin and a packet of spin please. Its all we need now in life.

To be born, marry a spin, have 2.4 spins, live 3 spins and 10 and then die.

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Re: New Builds. This is from a developer to me in May ...... to date neither plot has sold ...

Plot 3: Where we are currently asking £849,950, reduced from £925,000.

XXXX Ltd will agree to pay the stamp duty at 4%, saving you approx £34,000, based on the asking price. Also, they will discount the price by £27,000 on top. This makes a purchase price free from stamp duty of £822,950. XXXX Ltd would net £790,032 after paying the stamp duty.

Plot 2: Where we are currently asking £749,950, reduced from £795,000.

XXXX Ltd will agree to pay the stamp duty at 4%, saving you approx £30,000, based on the asking price. Also, they will discount the price by £21,000 on top. This makes a purchase price free from stamp duty of £728,950. XXXX Ltd would net £699,792 after paying the stamp duty

______________________________________________

Another developer has offered me a property, which was first advertised in April 2003 at £895,000, and has since been advertised at £825,000 and, more recently for £750,000. He now says they will accept "high 600's", with carpets & curtains.

______________________________________________

Another developer, properties ready for living in since August 2004, has now dropped prices from £850,000 to £775,000 with a "part ownership" scheme available to help people afford them!

______________________________________________

But shhhhhhhhhh ...... there's not really a crash coming ;)

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Mrs Gavin said she saw an advert for new builds that said if you signed up by the end of the week you get a new plazma TV.

I think when imagining the dream, people want a house and a plazma nowadays. Its replaced life as a concept.

Modern conception:

You don't own possesions, they own you.

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I must just add, that before I went away (travelling, not prison) I used to walk past a new build block of flats. On the wooden site perimeter fence they used to have pictures of beautiful people enjoying life in waht would be the new build flats.

One fit girl was dressed in a gym leotard with a couple of dumbells in each hand, and sort of pretending to exercise with her bed behind her, in the perfectlydecorated but SMALL bedroom.

To any thinking person, it was blindingly obvious that there really was no room to exercise at all. She couldn't lift her legs, or bend over or indeed do anything but stand there with her dumbells.

So thats the result of the dream they sold. Standing in a leotard, pretending to live.

Now the flats are finished, but obviously not all sold. They are being sold in phases.

Not sure why they do that. I think its spin.

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I love those advertising pictures for new homes :D Images of 30 or 40-something exec's dressed in beautiful clothes, swinging each other round and grinning up at each other in a sickening "happiest person on the globe" manner. I mean, do these people really exist? Would anyone, especially a well paid exec, be THAT happy to be borrowing 5 times their salary to buy themselves a 500 ft2 flat, sorry "apartment" :blink:

Sorry but I think the only thing that might make me grin in such an inane crazed manner would be scooping £74 million on the lottery!

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There are a load of new-builds in Malvern. The place I call home. There's one development that me and Mrs 29929BT went to view. That was 6 months ago and there were 4 for sale. Everytime we drove past we used to count them out loud and sing "Four for sale". God I'm dull.

Anyway - now there are 5 for sale! But none were sold to start with!!

Did they withold the 5th element?

Also there's a new old-folks block with a permanent sign saying "50% sold / part ex welcome"

The five flats I mentioned are rubbish - ONE parking place 3mins walk away (no garden of course) and wait for it £285 thousand pounds!!!

Desperate for a really solid sign to show my friends.

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There's a selection of new builds near my office - in the region of £300k for the 2 bed flats (though they come without floors, bizarrely).

They were released in Feb 2005 and I see from the current pricelist that *one* has been sold so far - not counting the 4 ground floor flats that were snapped up by a BTL... yet still stand empty.

The top floor flats have a pretty nice terrace and the walk from there to work would be 90% parkland. I wonder how far they'd drop....

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In leeds city centre in a developement called Aspect 14 one of many similar new high rise developments, some looking over the canal and some with a lovely view of 1960s high rise council flats(this is the case for Aspect 14),

prices are varying from 107k -139k for identical 1 bed flats.

and varying from 144k to 178k for identical 2 bed flats.

Who will buy the flat at 139k if a similar one is going for 107k over 30k less?

Edited by Beadbo

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I mean if the plazma costs 2k, and you are a bit strapped for cash, its obvious that you should have the TV instead of a discount.

It has also occured to me that this is why we are not seeing more marked falls in reported prices in the newbuilt arena. Sale prices remain high, just the incentives get bigger and bigger.

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Guest Bart of Darkness
Images of 30 or 40-something exec's dressed in beautiful clothes, swinging each other round and grinning up at each other in a sickening "happiest person on the globe" manner. I mean, do these people really exist?

Yes, those images of OTT euphoria annoy me as well.

If I saw someone behaving like that in the street, I'd cross the road to avoid them (they might try to cadge some money off me to pay for the mind altering substances that they obviously repeatedly ingest to get like that).

Some more accurate images to advertise these luxury shoeboxes might be:

Debt ridden man holds gun to temple, surrounded by red bills.

Woman telling man she's filing for divorce due to the stress caused by their massive debt, brought on by buying Britain's most overpriced shoebox.

Empty room of BTL shoebox apartment that no one wants to rent.

Man in casualty ward with injury caused by turning round too quickly in unfeasibly small bedroom.

Man trying to fit 42" plasma TV into a pokey room clearly designed for a smurf.

Kirstie Allsop in a leotard holding some dumbells (well, it can't be all doom and gloom y'know!)

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In leeds city centre in a developement called Aspect 14 one of many similar new high rise developments, some looking over the canal and some with a lovely view of 1960s high rise council flats(this is the case for Aspect 14),

prices are varying from 107k -139k for identical 1 bed flats.

and varying from 144k to 178k for identical 2 bed flats.

Who will buy the flat at 139k if a similar one is going for 107k over 30k less?

Better still, who would want to live in a development with such a stupid name. Seriously I would burst into laughter every time someone asked my address.

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Hartbury Gloucester - Bloor are offering a £50K discount on their last 2 homes in an exclusive development - prices approx £450k.

Elmbridge Gloucester, sandwiched between a factory and next to a railway line, a Redrow 3 bed £203,000 no discounts or incentives. Edited to add - normal prices for good solid victorian/1930's semis are a good £20,000 less at least and bigger, in better location in Elmbridge

There is a huge development happening in South Gloucester (Quedgeley) on an old RAF site. Westbury, Wimpey, all the usual suspects, selling not off plan, but they have no plan yet....(!) but off loading I guess in the hope people will think early discount etc before the crash takes hold in people's minds. They have all added a good £20K to prices of a similar development last year in a (imo) better area of Gloucester (Quedgely was a village, now urban village, read ghetto suburb).

So some are, some aren't I guess.

Edited by Crowley

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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