FreeTrader Posted May 4, 2015 Share Posted May 4, 2015 (edited) 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: 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 5SE16/01/2015 £142,50017/12/2004 £292,000Loss = £149,500 (-51.2%) -------------------------- 11 Angel Way, North Cornelly, CF33 4PB02/02/2015 £110,00029/07/2005 £210,000Loss = £100,000 (-47.6%) -------------------------- 6 Harris Road, Armthorpe, DN3 2FE23/01/2015 £185,00030/06/2006 £272,600Loss = £87,600 (-32.1%) -------------------------- 43 Bridgeside, Carnforth, LA5 9LF16/01/2015 £180,00009/06/2006 £249,950Loss = £69,950 (-28.0%) (continued) Edited May 4, 2015 by FreeTrader Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted May 4, 2015 Author Share Posted May 4, 2015 (edited) 16 Poundgate Lane, Coventry, CV4 8HJ30/01/2015 £410,00027/07/2007 £550,000Loss = £140,000 (-25.5%) -------------------------- 10 Wood Heath Way, Eastham, CH62 0BQ30/01/2015 £305,00026/02/2004 £405,000Loss = £100,000 (-24.7%) -------------------------- 19 Prentice Way, Ipswich, IP3 8GH16/02/2015 £187,00022/12/2006 £242,995Loss = £55,995 (-23.0%) -------------------------- 6 Coed Derw, Bridgend, CF31 5HA30/01/2015 £250,00003/06/2008 £319,950Loss = £69,950 (-21.9%) -------------------------- 6 Latham Place, Upminster, RM14 1DU06/03/2015 £999,95029/09/2008 £1,275,000Loss = £275,050 (-21.6%)[No image for this one unfortunately] -------------------------- (continued) Edited May 4, 2015 by FreeTrader Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted May 4, 2015 Author Share Posted May 4, 2015 (edited) 10 Church End Mews, Hale Village, L24 4EB16/02/2015 £225,00007/06/2006 £285,000Loss = £60,000 (-21.1%) -------------------------- 38 Callaghan Drive, Tividale, B69 3NG27/02/2015 £186,50014/02/2007 £234,900Loss = £48,400 (-20.6%) -------------------------- 11 Hortonfield Drive, Washingborough, LN4 1AW19/01/2015 £290,00029/09/2006 £360,000Loss = £70,000 (-19.4%) -------------------------- 18 Barn Elms, Camblesforth, YO8 8GY30/01/2015 £235,00031/07/2007 £290,000Loss = £55,000 (-19.0%) -------------------------- 17 Circus Square, Colchester, CO2 7TG03/03/2015 £215,00012/04/2007 £265,000Loss = £50,000 (-18.9%) (continued) Edited May 5, 2015 by FreeTrader Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted May 4, 2015 Author Share Posted May 4, 2015 (edited) 26 Acorn Way, Red Lodge, IP28 8FY20/02/2015 £300,00021/12/2007 £364,995Loss = £64,995 (-17.8%) -------------------------- 2 Tuscan Road, Swindon, SN25 2GP16/01/2015 £237,00030/03/2007 £288,000Loss = £51,000 (-17.7%) -------------------------- 15 Edwardian Close, Shirley, Solihull, B90 3SP27/02/2015 £380,00024/11/2006 £459,995Loss = £79,995 (-17.4%) -------------------------- 5 Lawley Lane, Droitwich, WR9 8FB04/02/2015 £287,00029/11/2013 £346,995Loss = £59,995 (-17.3%) -------------------------- 10 Hawkins Walk, Oakhampton, EX20 1DF06/02/2015 £236,00017/06/2008 £284,500Loss = £48,500 (-17.0%) (End of examples) Edited May 4, 2015 by FreeTrader Quote Link to comment Share on other sites More sharing options...
blobloblob Posted May 4, 2015 Share Posted May 4, 2015 I'm stunned by how much people paid to live in Bridgend the second time round, never mind the first. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted May 4, 2015 Share Posted May 4, 2015 They don't call them identikit for nothing, do they?! Quote Link to comment Share on other sites More sharing options...
giesahoose Posted May 4, 2015 Share Posted May 4, 2015 i really don't see the point of those new build townhouses. They could have cracking flats on 1 floor instead of narrow houses with loads of stairs. Quote Link to comment Share on other sites More sharing options...
leonardratso Posted May 4, 2015 Share Posted May 4, 2015 selby? is that close to drax powerstation per chance? Quote Link to comment Share on other sites More sharing options...
erat_forte Posted May 4, 2015 Share Posted May 4, 2015 The prices! Divide by 10 and I would consider buying one! Quote Link to comment Share on other sites More sharing options...
Assume The Opposite Posted May 4, 2015 Share Posted May 4, 2015 New build flat 15 Robin Road, Corby, NN18 8FH 26 Nov 2009 £51,500 24 Oct 2008 £103,000 Loss= £51,500 (-50%) Ouch Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted May 4, 2015 Author Share Posted May 4, 2015 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. 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. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted May 4, 2015 Share Posted May 4, 2015 The drops aren't enough by half. The prices are still ridiculous! Quote Link to comment Share on other sites More sharing options...
pig Posted May 4, 2015 Share Posted May 4, 2015 (edited) 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 May 4, 2015 by pig Quote Link to comment Share on other sites More sharing options...
R K Posted May 4, 2015 Share Posted May 4, 2015 (edited) New build cars ditto. And tellys. No end to it. Edited May 4, 2015 by R K Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted May 4, 2015 Share Posted May 4, 2015 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. Quote Link to comment Share on other sites More sharing options...
leonardratso Posted May 4, 2015 Share Posted May 4, 2015 i would live in durham for £530K. wassat? you want me to pay £530K to live there? I doubt the whole city is worth 530K. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted May 4, 2015 Share Posted May 4, 2015 (edited) 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 May 4, 2015 by long time lurking Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted May 4, 2015 Share Posted May 4, 2015 Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted May 4, 2015 Author Share Posted May 4, 2015 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. Quote Link to comment Share on other sites More sharing options...
pig Posted May 5, 2015 Share Posted May 5, 2015 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... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 5, 2015 Share Posted May 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted May 5, 2015 Share Posted May 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted May 5, 2015 Share Posted May 5, 2015 Welcome to modern Britain where you can trade a lifetimes unsatisfying work to live like a battery hen. Just think how the losses on these sorts of properties would be stacking up without all the interventions. Quote Link to comment Share on other sites More sharing options...
Venger Posted May 5, 2015 Share Posted May 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
madmax2 Posted May 5, 2015 Share Posted May 5, 2015 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. Quote Link to comment Share on other sites More sharing options...
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