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Wurzel Of Highbridge

Now They's Starting To Reduce New Builds

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From overinflated to slightly less overinflated, could Taylor Wimpy's share price be the next to watch?

http://www.rightmove.co.uk/new-homes-for-sale/property-48841607.html

WAS ?290,000 NOW ?275,000! This double fronted 4 bedroom detached home offers kitchen/breakfast area, dining room, living room, study, downstairs cloakroom, 2 bedrooms with en suite shower rooms and family bathroom. More details

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This one is a genuine reduction, I have spotted a few recently in Somerset/Bristol.

These new builds were flying off the shelf at the beginning of the year. To me it looks like the finite pool of eligible buyers at such high prices has been exhausted.

This is where the fun starts as builders need cash flow to stay in business and keep people employed, much like second hand house sales persons.

Builders would benefit hugely from being allowed to build on greenfield sites with no S21 commitments as they could sell at much lower prices that the used market and provide better such houses on larger plots. I would expect to see a lot of government lobbying in this area, I know Labour were making noises about greenfield sites last week.

You could easily get final prices down by 30% without affecting profit margins per house and that would increase turnover significantly.

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Last time a local builder bit off more than he could chew, rather than let the (more or less finished) houses go to auction individually and bought by individual families, the local council stepped in, paid peak price, and mothballed the development and kept the houses empty for the next 3 years.

What a great use of public money.

Edited by Executive Sadman

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Exactly what they want.

No, tax their land banks and if they go bust, release the land to people who will build and pick up the land at knocked down prices making it feasible.

And all planning gain to go to the community who grant it - not land hoarders.

Agreed on taxing undeveloped land with planning. I would also like to see the planning system reformed so that development land is not worth hoarding because it's easy to get planning on sensible developments.

For example most town's will have one or perhaps two sites maximum earmarked for development and you cannot build elsewhere. This policy takes absolutely no account of what the land owners intentions other than they have applied for planning.

The Condems 15 years worth of land supply has helped free things up a bit, but it's still not ideal.

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I am bearish on New Builds in East London. My sample consists of only blocks with concierge, typically built by the likes of Ballymore, Berkeley or Barratts.
E16 blocks are offered down, plenty of new capacity coming on stream: the Hoola, on the other side of the Royal Dock towards the Thames Barrier (seen 2 overpriced places (E16 2FP), 300 to 315 for a 1 bed my eye, they were bought for 200 to 230 off the developer).
Berkeley is building just opposite Canning Town station, a new build is being erected at Canning Town station, East of C Wharf the old docks are being converted, next to New Providence Wharf, cranes at North Greenwich. And this is north of Greenwich with the Millenium Village what it's called. Asian buyers are turning this area into one massive rental village and their yields will be mediocre (before currency risk). Also seen Bow (E3) being offered down. Berkeley flogged their last retained apartments at Caspian Wharf, the monolythic structure at No 1 Bow, down 20 to 30k and an EA told me that prices are a bit under pressure. As far as the new builds in Colindale are concerned, would not touch those with a 10 ft pole.

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Those 2007/8 prices are eyewateringly expensive. There is a new build 2007 Ghetto estate near ASDA, mostly full of chavs and social misfits. I initially thought it was social housing until one came up for sale and I looked at rightmove sold prices.

I must admit new builds around here don;t look too bad £240k buys you a tiny 4 bed detached with an even smaller garden and garage you won't get the doors open it.

Not cheap, but less than most boomers are asking for their dead parents 60's bungalows that need a full refurb.

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I doubt it. Cannot say for sure as I have not been viewing as of recent but flats and blocks I recognise from a few months back, their asking prices have been reduced. Surprisingly, little new supply coming from New Providence Wharf (E14). Not sure what percentage is BTL though. Viewed this one right on the day it came onto the market: http://www.rightmove.co.uk/property-for-sale/property-47733521.html for example, and is still up for sale. It's atypical of C Wharf to be so sluggish (needless to say it's still overpriced).

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New builds in Droitwich have started dropping. The last few on the Bovis Harrison Park development are proving tricky to clear.

5 bedroom detached house, The Arundel at Harrison Park

14/10/2014 Price changed: from 'From £424,995' to 'From £399,995'

01/08/2014 Price changed: from 'From £434,995' to 'From £424,995'

5 bedroom detached house, The Francis at Harrison Park

14/10/2014 Price changed: from 'From £349,995' to 'From £319,995'

27/07/2013 Price changed: from 'From £359,995' to 'From £349,995'

Unfortunately for Bovis they are chasing the market down. One of the houses on the development is on the market for the second time, another of their Francis homes.

Sold first time 29 Nov 2013 for £346,995. http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=47632586&sale=1263352&country=england

Now on sale with two agents (now seeing an increasing number of properties on sale with 2 agents very 2008)

http://www.rightmove.co.uk/property-for-sale/property-48513770.html?premiumA=true

http://www.rightmove.co.uk/property-for-sale/property-44453494.html

01/06/2014 Initial entry found.

18/07/2014 Price changed: from '£339,950' to '£325,000'

11/09/2014 Price changed: from '£325,000' to '£315,000'

25/09/2014 Price changed: Guide Price £315,000

21/10/2014 Price changed: Guide Price £315,000 Offers Over £300,000

That's not bad going a £50K haircut in less than 12 months.

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Builders would benefit hugely from being allowed to build on greenfield sites with no S21 commitments as they could sell at much lower prices that the used market and provide better such houses on larger plots. I would expect to see a lot of government lobbying in this area, I know Labour were making noises about greenfield sites last week.

You could easily get final prices down by 30% without affecting profit margins per house and that would increase turnover significantly.

You are immensely naive if you believe that builders would sell at much lower prices and would provide better houses if they were allowed to build on green fields. Of course they wouldn't they would build overpriced 5/6 bed executive slave boxes and just increase their margins.

I assume you mean section 106 not 21. Well think of it as a tax on developer's planning gain profits and should be used for public amenities or 'affordable' housing.

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Couple more Barrats new builds reduced today, I guess nothing is selling.

http://www.rightmove.co.uk/new-homes-for-sale/property-48363938.html?premiumA=true

http://www.rightmove.co.uk/new-homes-for-sale/property-48363935.html

The only way to stimulate this game now is to increase the government stake and reduce deposits to zero.

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Bloor Homes reducing after just a week on the market.

http://www.rightmove.co.uk/new-homes-for-sale/property-32792385.html

4 bedroom house for sale Dursley at Wilstock Village, Lotus Drive Bridgwater TA5
31/10/2014 07:31:25
  • Price changed: £239,950 £229,950
26/10/2014 14:02:58
  • Agent found: Added on 24/10/2014 by
  • Agents Location found: Added on 24/10/2014 by
24/10/2014 18:40:22
  • Price found: £239,950
  • Status found: NEW HOME – Help to Buy, NEW HOME – Premium New Home, New home, null, null
  • Subtitle found: 4 bedroom house
  • Title found: Dursley at Wilstock Village, Lotus Drive Bridgwater TA5

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Ouch! Is the tide going out around your way???

28 Sorrel Drive, Bridgwater, Somerset TA5 2BX

06 Jun 2014 Detached, Freehold£295,000

17 Dec 2010 Detached, Freehold (New Build) £374,950

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=38848564&sale=51630659&country=england

Somebody stole the garden, every view through the windows in the pics is directly onto a wall / roof.

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New builds in Droitwich have started dropping. The last few on the Bovis Harrison Park development are proving tricky to clear.

5 bedroom detached house, The Arundel at Harrison Park

14/10/2014 Price changed: from 'From £424,995' to 'From £399,995'

01/08/2014 Price changed: from 'From £434,995' to 'From £424,995'

5 bedroom detached house, The Francis at Harrison Park

14/10/2014 Price changed: from 'From £349,995' to 'From £319,995'

27/07/2013 Price changed: from 'From £359,995' to 'From £349,995'

Unfortunately for Bovis they are chasing the market down. One of the houses on the development is on the market for the second time, another of their Francis homes.

Sold first time 29 Nov 2013 for £346,995. http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=47632586&sale=1263352&country=england

Now on sale with two agents (now seeing an increasing number of properties on sale with 2 agents very 2008)

http://www.rightmove.co.uk/property-for-sale/property-48513770.html?premiumA=true

http://www.rightmove.co.uk/property-for-sale/property-44453494.html

01/06/2014 Initial entry found.

18/07/2014 Price changed: from '£339,950' to '£325,000'

11/09/2014 Price changed: from '£325,000' to '£315,000'

25/09/2014 Price changed: Guide Price £315,000

21/10/2014 Price changed: Guide Price £315,000 Offers Over £300,000

That's not bad going a £50K haircut in less than 12 months.

Now on with 3rd agent for £300k.

http://www.rightmove.co.uk/property-for-sale/property-47217856.html

I think I know the size of the mortgage.

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