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New Build Losers

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So far in 2015 the Land Registry has recorded 3,761 sales in its price-paid data where the residential property was originally purchased as a freehold new build by the seller in the year 2000 or later.

Of these sales 2,905 show a nominal gain for the seller, 774 are losers, and 82 are unchanged (within £500 of the purchase price). However this does not take into consideration purchasing costs such as stamp duty and conveyancing fees.

Here's the breakdown of these stats by year:

NewbuildLosers040515.gif

Below are some of the largest new build losers in percentage terms and where the property originally had a fairly substantial price tag.

26 Old Dryburn Way, Durham, DH1 5SE
16/01/2015 £142,500
17/12/2004 £292,000
Loss = £149,500 (-51.2%)

26OldDryburnWayDH15SE.jpg

--------------------------

11 Angel Way, North Cornelly, CF33 4PB
02/02/2015 £110,000
29/07/2005 £210,000
Loss = £100,000 (-47.6%)

11AngelWayCF334PB.jpg

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6 Harris Road, Armthorpe, DN3 2FE
23/01/2015 £185,000
30/06/2006 £272,600
Loss = £87,600 (-32.1%)

6HarrisRoadDN32FE.jpg

--------------------------

43 Bridgeside, Carnforth, LA5 9LF
16/01/2015 £180,000
09/06/2006 £249,950
Loss = £69,950 (-28.0%)

43BridgesideLA59LF.jpg

(continued)

Edited by FreeTrader

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16 Poundgate Lane, Coventry, CV4 8HJ
30/01/2015 £410,000
27/07/2007 £550,000
Loss = £140,000 (-25.5%)

16PoundgateLaneCV48HJ.jpg

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10 Wood Heath Way, Eastham, CH62 0BQ
30/01/2015 £305,000
26/02/2004 £405,000
Loss = £100,000 (-24.7%)

10WoodHeathWayCH620BQ.jpg

--------------------------

19 Prentice Way, Ipswich, IP3 8GH
16/02/2015 £187,000
22/12/2006 £242,995
Loss = £55,995 (-23.0%)

19PrenticeWayIP38GH.jpg

--------------------------

6 Coed Derw, Bridgend, CF31 5HA
30/01/2015 £250,000
03/06/2008 £319,950
Loss = £69,950 (-21.9%)

6CoedDerwCF315HA.jpg

--------------------------

6 Latham Place, Upminster, RM14 1DU
06/03/2015 £999,950
29/09/2008 £1,275,000
Loss = £275,050 (-21.6%)

[No image for this one unfortunately]

--------------------------

(continued)

Edited by FreeTrader

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10 Church End Mews, Hale Village, L24 4EB
16/02/2015 £225,000
07/06/2006 £285,000
Loss = £60,000 (-21.1%)

10ChurchEndMewsL244EB.jpg

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38 Callaghan Drive, Tividale, B69 3NG
27/02/2015 £186,500
14/02/2007 £234,900
Loss = £48,400 (-20.6%)

38CallaghanDriveB693NG.jpg

--------------------------

11 Hortonfield Drive, Washingborough, LN4 1AW
19/01/2015 £290,000
29/09/2006 £360,000
Loss = £70,000 (-19.4%)

11HortonfieldDriveLN41AW.jpg

--------------------------

18 Barn Elms, Camblesforth, YO8 8GY
30/01/2015 £235,000
31/07/2007 £290,000
Loss = £55,000 (-19.0%)

18BarnElmsYO88GY.jpg

--------------------------

17 Circus Square, Colchester, CO2 7TG
03/03/2015 £215,000
12/04/2007 £265,000
Loss = £50,000 (-18.9%)

17CircusSquareCO27TG.jpg

(continued)

Edited by FreeTrader

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26 Acorn Way, Red Lodge, IP28 8FY
20/02/2015 £300,000
21/12/2007 £364,995
Loss = £64,995 (-17.8%)

26AcornWayIP288FY.jpg

--------------------------

2 Tuscan Road, Swindon, SN25 2GP
16/01/2015 £237,000
30/03/2007 £288,000
Loss = £51,000 (-17.7%)

2TuscanRoadSN252GP.jpg

--------------------------

15 Edwardian Close, Shirley, Solihull, B90 3SP
27/02/2015 £380,000
24/11/2006 £459,995
Loss = £79,995 (-17.4%)

15EdwardianCloseB903SP.jpg

--------------------------

5 Lawley Lane, Droitwich, WR9 8FB
04/02/2015 £287,000
29/11/2013 £346,995
Loss = £59,995 (-17.3%)

5LawleyLaneWR98FB.jpg

--------------------------

10 Hawkins Walk, Oakhampton, EX20 1DF
06/02/2015 £236,000
17/06/2008 £284,500
Loss = £48,500 (-17.0%)

10HawkinsWalkEX201DF.jpg

(End of examples)

Edited by FreeTrader

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I'm stunned by how much people paid to live in Bridgend the second time round, never mind the first.

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The prices! Divide by 10 and I would consider buying one!

Not sure what the attraction of the Old Dryburn Way estate in Durham was back in 2004 - 2007 (DH1 5SE, first example in the OP), but the house in the middle of the pic below is number 37 and was bought in May 2007 for 530K.

OldDryburnWayDH15SE.jpg

Streetview: https://www.google.co.uk/maps/@54.785446,-1.588633,3a,75y,80.87h,88.75t/data=!3m4!1e1!3m2!1s3iOpIXcco6woxgcyjmfzxQ!2e0?hl=en

Number 9 is on the market for 218K - originally bought for 297K in April 2005.

Also number 27 for 190K - bought for 250K in May 2006.

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They say the eyes are the windows of the soul....

If you wanted to focus on one give-away detail look at those windows - they are designed to be repetitiously cheap, and yes to nod at traditional architecture. Nothing to do with the experience of living in the building. Soul-less.

Look at this building:

http://www.dezeen.com/2013/10/22/wooden-houses-in-amsterdam-by-m3h-architecten/

I've very deliberately picked a new-build modern style no doubt plenty on here will hate and find hideous with a vengeance.

But you can tell from the elevation that thought has been given to how the windows connect the inside to the outside. You then discover looking at the interior pictures that that thoughtfulness carries through to the internal spaces. In short it looks like a nice place to live.

And by the way - before you entirely blame house-builders, I'd consider:

  • again those who would hate the superficial 'style' as a matter of principal + those above cheapo designs have been 'market tested' with potential buyers
  • hpc.co.uk and what over-priced land has done to our capability for and attitude to high quality + imaginative housing...
Edited by pig

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New build cars ditto.

And tellys.

No end to it.

Edited by R K

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I'm stunned by how much people paid to live in Bridgend the second time round, never mind the first.

To be fair, the first one is not Bridgend really (CF33) that first sale price is unbelievable and the second one is on a massive development like something out of the Truman show.

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To be fair, the first one is not Bridgend really (CF33) that first sale price is unbelievable and the second one is on a massive development like something out of the Truman show.

Yep the first one is more Porthcawl but still silly money first time around

Edit: was looking at the wrong house

Edited by long time lurking

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To be fair, the first one is not Bridgend really (CF33) that first sale price is unbelievable and the second one is on a massive development like something out of the Truman show.

Thanks for pointing that out.

The price-paid locale field I used can be misleading and so I've edited the addresses to be more specific.

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To be fair, the first one is not Bridgend really (CF33) that first sale price is unbelievable and the second one is on a massive development like something out of the Truman show.

Imagine planning out the building of 500 houses, (post machine-age era!) - 500 foundations, 500 walls, 500 roofs, 500 windows etc and how you decide is the best way to make a profit...

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the estate where the Colchester ones are is horrible. 2009, we looked at and went for a rental there, only for the LL (Army) to pull out last minute because all of a sudden, they became desparate to sell.

Glad we didnt get it...parking is very limited, and there are plenty of strange people living there...for example, a few doors from the main entrance to the estate, is a house where there were always(whenever I drove past, a group of youths sitting, posing, drinking, and once an older woman standing with a tray of beers...I guess she was the mum. This was less than 100 yards via an alley to the £250k+ corner house we were looking at.

FYI, there was a lawn on the property....6ft square.

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The newbuilds I have looked at (2005-7 vintage) had only one car allocated space per unit. Now with two car households and a few trade vans everyone parks up on the pavement. You could not park or even walk on the pavement For cars!

Good luck pushing a pram around or wwalking a dog.

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No one is dragging anyone into the banks to get mortgages to pay newbuild prices, or second-market house prices.

We make our own market observations including hard-HPI ripples to create massive HPI... 'this is a sweet-spot to buy' - and some of us still don't buy... expecting HPC.

You can't have it each and every way; expecting HPI, then wanting investigations for those who've lost out on their purchase.

Pal had doubling glazing guy around and price dropped over 50% in the negotiations a few years ago; he could have proceeded at first quoted price - some people probably do.

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Pal had doubling glazing guy around and price dropped over 50% in the negotiations a few years ago; he could have proceeded at first quoted price - some people probably do.

OT, however I can really lose my temper with these companies. Some people will haggle, so to keep them as customers they inflate the prices "expecting" some people to haggle, and the company still wins. And to the consumers...they are now taught to haggle on everything as a way of life, because the 10% that dont haggle dont get the best deal.

"if you dont ask, you wont get" etc statements. Why should a person who doesnt haggle for a living get a worse deal for the same item?

Housing asking prices £100k above selling prices, because haggling is expected. I would bet you one uneaten mars bar that there were houses I dismissed in the past, that were actually within my price bracket (once sold) but which I didnt bother to look at because the asking price was above what I was prepared to pay. By setting your asking price, you are bracketing your potential purchasers, and some will just walk away. You decrease your chance of a sale, and you ensure your purchaser is actually a muppet. Thats why there is no respect in these transactions.

Ditto for cars.

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