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Executive Sadman

New Builds Cheaper Than Pre-Owned

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Posted on these before, but hopefully this will be a growing trend...new builds priced lower than others. Maybe, finally people will realise they are asking too much if they find newbuilds (which are usually 10-25% overpriced compared to the general market) are cheaper.

(yes, its corby, so maybe just trying to offload before the whole town dissapears into a pool of debt)

http://www.rightmove.co.uk/property-for-sale/Corby.html?sortByPriceDescending=false&minBedrooms=4&secondaryDisplayPropertyType=detachedshouses&includeSSTC=true&_includeSSTC=on

ie £137.950 4bed detached new builds

15728_juniper_IMG_00_0000_max_620x414.jpg

15728_Oak_IMG_00_0000_max_620x414.jpg

Cheapest 4bed det preowned £143k, most are over £150k

69118_1996445_IMG_00_0000_max_620x414.jpg

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I have to say that I like a lot of newbuild estates. My brother lives on one and the properties are designed in a circle, with parking to the sides. There's a small fenced-off lake in the middle with some green space, so if the kids who live in those houses want to play outside in a group, they can do so without fear of passing cars. This has made it much easier for the kids and then their parents to get to know one another.

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Just awful.

Got to love developers who stick houses on top of the road to cram more in.

The top 2 houses look crap. Even at 50% off I wouldn't want one.

Awful yes, but not for that reason. For a given plot and house size I'd rather have only a small patch out the front and a larger garden at the back instead of dividing it up more evenly. That's a way of building that's existed for centuries, there's nothing modern developer about it.

They're all typical mind-numbingly dull modern stuff though, and I'd hope that the crappy build quality you usually get these days is reflected in the price (the slightly older ones are just as dull-looking). They're not ugly, they're just, well, nothing. Somewhere to eat and sleep between going to work, and never places I'd want to go out of my way to be in. Perhaps that's all they're meant to be but that's so unimaginative. That should be reflected in the price, although perhaps it works both ways, not having any of the problems that a 100-year old house might have and cancels out.

Edited by Riedquat

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New-builds, especially as part of a large estate, are often dreadful. There is some quality around, but they're few and far between. Wouldn't touch a house less than 5 years old - after about 5 years you can tell how well it's built and what the neighbourhood has become like.

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Well, yes the point wasnt to judge the aestetics of things, just to highlight that if developers can throw these things up for less than similarly sized modern homes, owners (and estate agents if theyre marketed directly) have problems.

Mate recently bought a nearly new build. I have to say i was impressed with the interior. Large rooms, particularly Kitchen, and high ceilings too. Outside was a different matter. This was a house around 2000sq ft, yet only one garage, one SMALL parking space, no front garden, small enclosed rear garden. Already parking and manouvering major problem

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The big problem is these days loads of properties on new estates get bought by housing associations and given to 19 year old mums of 4. These girls have multiple shady boyfriends and no control over their kids other than yelling obscenities at them in public. Try working 10 hours a day for 15 year so you can afford to live in between two households like that.

For me the neighbourhood is priority number 1. I would not touch new build with a bargepole because I simply cannot tolerate scrounging leaching scum like that. And thanks to Labour all new build have to have a high percentage of affordable housing, by which I mean scum housing.

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What's the comparative costs per square meter?

Good question.

BTW, in many other countries the built area is always displayed, usually at the top of these classifieds ads. Not here. This is just stupid. Yet ANOTHER stupid thing in our housing market. :angry:

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I work out The top one is around £1300 per metre sq. or about £120 per sq foot and the second one about £1350 per metre sq. ie around £125 per sq ft.

For comparison

http://www.housepricecrash.co.uk/forum/index.php?showtopic=159765

That is very cheap indeed. Building cost alone (excluding plots) is around £1k/sqm.

Around here, south/SE, house prices are between £2k and £3k / sqm.

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Awful yes, but not for that reason. For a given plot and house size I'd rather have only a small patch out the front and a larger garden at the back instead of dividing it up more evenly. That's a way of building that's existed for centuries, there's nothing modern developer about it.

They're all typical mind-numbingly dull modern stuff though, and I'd hope that the crappy build quality you usually get these days is reflected in the price (the slightly older ones are just as dull-looking). They're not ugly, they're just, well, nothing. Somewhere to eat and sleep between going to work, and never places I'd want to go out of my way to be in. Perhaps that's all they're meant to be but that's so unimaginative. That should be reflected in the price, although perhaps it works both ways, not having any of the problems that a 100-year old house might have and cancels out.

When I saw those houses the first thing that came to mind was Pierce Brosnan assembling a nuclear bomb in the back bedroom.

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I have always thought that the price of a house is made up of two components : the plot plus the house itself.

Price = x m^2 * a / m^2 + y acres * b / acre

In the "close commutable" south east, x seems to be about 200 and y seems to be about 1,500,000 for high end houses. The house price crash will come from y rather than x as y is only where it is due to severe rationing.

It is easy to make the assumption that new builds are cheaper when not controlling for much better / larger plots for older houses.

Garden grabbing should also account for significant discounts relative to original garden sizes for older but similar homes.

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That is very cheap indeed. Building cost alone (excluding plots) is around £1k/sqm.

Around here, south/SE, house prices are between £2k and £3k / sqm.

those are really eye watering numbers. £3k a sqm??!!

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I have certainly noticed a reduction in asking prices for new builds in Norwich - and not before time too. :) This one seems like reasonable value for money 4 bed in NR5 from £165k

This one a 3 bedder in NR3 built on a former pub site is now £145k, which was £155k. A neighbouring house has come down from £165k to £155k. B) Getting there - would love them to come down to below Stamp Duty level.

However, in this area resale properties are still cheaper to buy than new builds.

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Is this really news to anyone?

If you can find a new build on the same sized plot with the same internal space as a house that was built before liebour then the price will likely be the same as comparable older houses.

New builds are cheaper because there is no plot to go with them. There are lots of other reasons but that is the main one.

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Is this really news to anyone?

If you can find a new build on the same sized plot with the same internal space as a house that was built before liebour then the price will likely be the same as comparable older houses.

New builds are cheaper because there is no plot to go with them. There are lots of other reasons but that is the main one.

Maybe if you're comparing to houses built 1970s or before, but i'm comparing to 90s/2000s modern homes. Plots arent smaller now than 5,10,15 years back. I dont think its physically possible for them to get any smaller!

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The big problem is these days loads of properties on new estates get bought by housing associations and given to 19 year old mums of 4. These girls have multiple shady boyfriends and no control over their kids other than yelling obscenities at them in public. Try working 10 hours a day for 15 year so you can afford to live in between two households like that.

For me the neighbourhood is priority number 1. I would not touch new build with a bargepole because I simply cannot tolerate scrounging leaching scum like that. And thanks to Labour all new build have to have a high percentage of affordable housing, by which I mean scum housing.

How true.

We recently looked at a new development (Research only you understand!)

David Wilson one side of the new road, A N other developer opposite.

A pair of 'semi's I thought, were infact 6 flats!! and appeared to be occupied by kids fresh out of school.

One young lad, probably only about 17/18 was staggering along the new road at about 3pm with a bottle of wine.

Two young girls with babies in a pair of small new semi's were obviously the centre of attention of about half a dozen of the new flat dwellers along the road.

When we were called the following day by an attentive sales person (to see if we were prepared to make an offer) we stated that we were not interested due to the very high level of 'idle hands' as neighbours (being retired we do travel quite abit).

Sales quite eagerly stated that there had been problems with young tenants, and the problems were being addressed!

Just imagine paying £250-£300,000, working long hours and returning home to that enviriment!

Not at all impressed with our savings/house fund interest rates, but I'd rather earn 0% that buy a home in a future ghetto.

Absolutely 100% true, I assure you, so we just keep travelling!

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How true.

........

Just imagine paying £250-£300,000, working long hours and returning home to that enviriment!

Absoultly. How sickening that almost half of everything we earn is taken from us by government under threat of force, the result being we have to foresake that which our money is being used to provide for those who:

1) Do not deserve it.

2) Do not appreciate it.

3) Do not care for it.

4) Still feel entilited to more.

It is such a completely sick and wrong state of affairs, yet still we tolerate it, what the hell is wrong with us? The only time this countries tax payers got uppity was when some MPs claimed a few grand wrongly, what about the tens of billions spunked away on welfare and entitlements of the underserving each month?

We could double pensions and provide almost full average wage style welfare handouts, if anyone under 65 has a 3 year lifetime limit on claims, then it really would be a welfare net, rather than a welfare nest.

Or better still a citizens income.

My vote at the next election will be heavily influenced by wheather IDS makes a decent stand or not.

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Maybe if you're comparing to houses built 1970s or before, but i'm comparing to 90s/2000s modern homes. Plots arent smaller now than 5,10,15 years back. I dont think its physically possible for them to get any smaller!

ah, that makes more sense. I wont look at anything younger than me for that very reason, not everyone likes a garden but we do.

The other annoying thing about new builds is that there is no storage, every inch of space is a room or living space. Most use the loft as another room and there is no space to store anything. The places look great but I have a practical mind and see the storage issue, we would likely lose something like the loft room to use it for storage as a .....loft :D

Edited by Number79

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Recently bought on a new build estate and for some reason I'm finding the opposite.. 3 social houses which well, the families seem nicer, better dressed and have newer cars than the ones in the private housing.

One family have dropped around £180k on one of the 4 beds round the corner according to the land reg and I was quite surprised to hear upon being called in by her mother to do something the teenage daughter replied "if you speak to me again like that I will smash your F***ing face in"

Always assumed if you had that sort of cash to drop on a house you'd be able to bring your kids up properly.. silly me

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Not sure any sort of money gets you away from scum. Relative of mine lived in a st. georges hill type sort of road in Surrey. Lots of Footballers, russians and other new money type rich lived on the road. During the summer it wouldnt be unusual to find them drunk, staggering up and down the road, throwing up, urinating in flowerbeds etc. Lots of loud parties into the early hours.

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  • 312 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% +
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      • Even
      • up 2.5%
      • up 5%



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