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Barratt Sale!

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I like this blurb for a development they have in Swansea...

'Despite being in close proximity to the city, the properties are quiet and private, bordering fields, hills and a small woodland area. It's also worth noting that the famous Gower Peninsula can be reached in just 15 minutes, the first place in the UK to be designated an Area of Outstanding Natural Beauty.'

I see it makes no mention that the development is directly opposite a major retail park which has Boots, Next, Borders, WHSmith, Dixons, Carphone Warehouse, M&S, etc, etc, and one of the largest Tescos in South Wales.

Oh well, handy for your shopping.

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I would like to go into the Barratt's sales office and say ....

Are you telling me the prices are going back up 20k after this weekend? Because if you are you're taking the piss. And if you are going to take the piss out of me by trying to kid me you are knocking 20k off for this weekend only - then I may have to do something unpleasant to you.

Isn't it about time people started telling housebuilders, car dealers, furniture stores, etc. etc. that no-one believes their 'Sale must end this weekend' bull?

But they no doubt could pull out some figures that show that the majority of people are as thick as a barn door and do fall for it.

This should be part of the finance education in schools that was on another thread recently.

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In the old days when I used to work for housebuilders - I reckon about one buyer in five would negotiate the price down. Most just paid the asking price. Even in the boom times people could still negotiate 20k off etc.

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The future of the Barratt development looks very bleak indeed.

In Bromley there is a development of 64 houses and 124 flats, most of which have already been sold at the peak on 2004, but the last few flats are still available.

One of the 3 bed 3 storey townhouses is already up for re-sale through a local agent, for £335K.

The site plans which I obtained from the showroom says that only 6 of this type were built. Nethouseprices shows 5 of them at the moment, with 2004 completion prices ranging from £350K to £395K depending on the property's position within the development.

I'm quite sure that the one up for sale was purchased for £350K (plus stamp duty at £10,500) with completion on 11 June 2004.

So that's a staggering £25,500 loss in just over a year assuming the vendor gets asking price.

Additionally, one of the other 5 identical properties was up for rent at £1,350 pcm, and has just been reduced to £1,200 !!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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