Jump to content
House Price Crash Forum
Sign in to follow this  
yokel

New Development Price Falls Herefordshire

Recommended Posts

I mentioned this development on the HtB thread - Persimmon seemed in a bit of a panic a couple of months ago as they were trying to get existing home (mortgage) owners to grab the HtB money before it was pulled. Also their biggest poshest houses fronting the development had banners offering various versions of part-ex. The development is called Chase Wood View in Ross-on-Wye.

Now they are dropping the prices. The most expensive houses (tall 5 bed on small footprint of land) were £350k and are now below £300k.

It would be interesting to know if the small number that have sold at the higher price (including the smaller houses) included HtB.

The council have also just given pp for another large (about 300 houses) development across the road so the Persimmon estate will have competition by next year.

One of their miscalculations might have been that BTL would keep the prices up around here - there is no university and little employment for young people beyond the `service industries' and agriculture. So retirees move here but not many families unless into social housing. The average income in the county is one of the lowest. I will watch this development with interest.

y

Share this post


Link to post
Share on other sites

Hoping to see the same around here as lots of houses have been built over the bast 6/7 years and many many more estates have gained planning.

There seems to have been a countrywide planning orgy over the last 2/3 years, time will tell if these sites with planning actually result in homes being built. It would be nice to see the large builders go bust and their land holdings split up and sold to small builders.

Share this post


Link to post
Share on other sites

I bought a new build at the end of 2008 (in Wiltshire) and prices of new builds were reduced then too. The developer was finding it difficult to sell for the next year or two. The house I bought (2 bed terrace) was approx £35K less than the equivalent houses were a few months previously. Unfortunately the house I sold in order to buy was also lower by about the same amount so I didn't really gain anything but for any FTBs ready to purchase immediately it was a good time to buy.

I thought we'd had the top then but I'd reckoned without the bounce which came after but it seems like this time might be different. I hope so then all those FTBs priced out for the past few years may be able to buy this time.

Share this post


Link to post
Share on other sites

So retirees move here but not many families unless into social housing. The average income in the county is one of the lowest. I will watch this development with interest.

y

Bit of a mistake building those 3 storey houses as retirees will probably not want too many stairs to deal with. The unsold 3 storey homes might get turned over to the housing associations.

Edited by MattW

Share this post


Link to post
Share on other sites

Another problem on this estate. The access is from the A40 - a single carriageway bypass with overgrown grass verges and a lot of heavy traffic - so not really possible to leave on foot that way. The developers haven't yet provided a pedestrian way out at the back of the development into the town - so unless you have a car you're trapped. Seems that the estate will need to be pretty much complete before a footpath is provided because the builders depot is at that location.

Early occupants are not happy. Strange that they didn't check that kind of thing before shelling out a quarter of a million pounds.

y

Share this post


Link to post
Share on other sites

out of interest (being local) I noticed that these new build houses (rabbit hutches) are now being listed on RM as 'shared ownership' - obviously struggling to sell.

Ross on Wye although a nice little town has no railway station (but does have the Ross Spur motorway :rolleyes: that leads into Wales via the A40) but it is not ideal for commuters or retireds - is it something to do with incentives to build 'affordable' homes in rural towns regardless of job opportunities or transport links?

Share this post


Link to post
Share on other sites

out of interest (being local) I noticed that these new build houses (rabbit hutches) are now being listed on RM as 'shared ownership' - obviously struggling to sell.

Ross on Wye although a nice little town has no railway station (but does have the Ross Spur motorway :rolleyes: that leads into Wales via the A40) but it is not ideal for commuters or retireds - is it something to do with incentives to build 'affordable' homes in rural towns regardless of job opportunities or transport links?

I think they build the proportion of `affordable' houses that they are obliged to, and no more. I had the impression at the start of this development that they were trying to catch the new bubble but it took them months and months to provide access off the A40 so that they could start. They have now missed the bubble.

Around Herefordshire there are lots of planning applications in (and therefore lots of NIMBYism). The council hasn't got a `Core Strategy' in place (incompetence and all efforts going into building a few new shops - sorry, I mean regenerating the Hereford City centre by providing a new retail and leisure quarter) so developers can pick and choose where to apply and the council can't refuse on the normal grounds of `doesn't fit into overall plans' because there are no overall plans.

Underlying the problems that this Persimmon development is apparently having is a very low average salary in the county, those who've kept their public sector jobs are uncertain and subject to pay freezes, and a lot of the seasonal money in the economy (farms, tourism) being saved up and taken back to Central/Eastern Europe by workers who come here to do just that (and who could blame them?).

Commuting from here is probably ok by car to Hereford, Gloucester, Worcester, Cheltenham and Newport so it can be a good place for a family if you're in a reliable job - schools are good, crime quite low although the Holy Grail was stolen from nearby a few weeks ago*, environment (river, forest etc) is nice.

* http://www.theforester.co.uk/news.cfm?id=26228&headline=Pub+raided.....in+search+of+the+Holy+Grail

y

Share this post


Link to post
Share on other sites

Off topic. This thread reminds me - I was in the Wye Valley on a school trip, summer 1990. I fell into the River Wye from a canoe. Also went swimming at a pool that I think was in Hereford. Ah, memories. :)

Share this post


Link to post
Share on other sites

moved to herefordshire in early 2011 from over the border (Shroppie) near the 'Ludlow effect' which attracted incomers as the 'New Cotswolds' - not many well paying jobs there either.

Herefordshire has very high council tax for what it does provide in the way of services but the scenery is spectacular and the locals are surly but nice if they know you are from 'around 'yer' ' and not a blow-in from the SE.

have noticed house prices are being slowly reduced - I live in HR8 - so reality is biting.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   206 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.