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TheCountOfNowhere

New Build Madness

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Just had a look on rightmove for Northants and spotted this new buildf listed for £430K ( supported by our taxes ).

 

http://www.rightmove.co.uk/property-for-sale/property-46502013.html

 

Something liek this would sell for around £220K in 2012 and Maybe 250K in 2007.  

This is some sort of a sick joke.

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Would make more sense if part of the 'Starter Homes Land Fund' where buyers can get 20% discount and therefore prices are increased by 20% accordingly.

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First thing I notice Count is the proximity to the other houses. The view from the back garden is just a wall of other properties. These ought to depreciate fast once the keys are handed over.

And 430k should get you a front garden and a bit of privacy.

Edited by crashmonitor

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1 hour ago, Assume The Opposite said:

 

So how the hell can they charge this??? It's next to a river too. 

Wow. Just wow. 

 

That happens to be the canal

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Bargain.

This development in Wroxham (Norfolk) starts at 250k and the 4 bed houses are looking like having a lesser resale value than new.

Today you can buy a 4 bed one for about 330 (bet they would take an offer also).

So why not buy one of the near top of the range ones which look like a steal at £460k ( am not so sure they are more than 30% larger than the ones at 330k either.

http://www.rightmove.co.uk/new-homes-for-sale/property-57775984.html

Just the other side of the road near the council houses a detached 4 bed on Keys drive with much larger gardens is around 325.  This development is the other side of the village and a very busy small bridge away from the schools in Hoveton and not in the same league (wide avenue with trees) as the Avenue which is the premier location in Wroxham.

Commuter houses for Norwich really at a price in excess of North Norwich for commuters who cannot afford it + the extra 15 mins to the job.

 

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23 hours ago, dougless said:

I blame Bernie Ecclestone; its all those F1 teams in the Northants area who pay their staff far too much money..

I think Northants just happens to be in the eye of the storm at the moment, i have just run through the rightmove stats and clearly that is where the ripple is at. At the centre and  extremities you have the London market imploding and Teesside and beyond  untouched.

The ripple based on sold to stock ratios rightmove 25th January 2017......................

 

London 28%

Befordshire/ Northants 53%

Leicestershire/ Nottinghamshire 41%

Derbyshire 38%

Yorkshire 32%

Teesside 22%

You can argue about relistings etc. but at the end of the day estate agents will be up to the same tricks whether it is Middlesborough or Northampton. So comparing areas like this should be fairly accurate as  to whether the market is hot or cold. The strike rate is also absolutely consistent with what prices are doing, a cooling london market and a Teesside market still on its knees.

Edited by crashmonitor

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I think your measured reasons for this make far more sense than my flippant comment about F1.  Having said that, having a sound local economy helps to stabilise local market conditions; presumably Teesside's economy is still on its knees and the ripple out will have melted away before it ever gets there.

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1 hour ago, crashmonitor said:

I think Northants just happens to be in the eye of the storm at the moment, i have just run through the rightmove stats and clearly that is where the ripple is at. At the centre and  extremities you have the London market imploding and Teesside and beyond  untouched.

The ripple based on sold to stock ratios rightmove 25th January 2017......................

 

London 28%

Befordshire/ Northants 53%

Leicestershire/ Nottinghamshire 41%

Derbyshire 38%

Yorkshire 32%

Teesside 22%

You can argue about relistings etc. but at the end of the day estate agents will be up to the same tricks whether it is Middlesborough or Northampton. So comparing areas like this should be fairly accurate as  to whether the market is hot or cold. The strike rate is also absolutely consistent with what prices are doing, a cooling london market and a Teesside market still on its knees.

Interesting regarding Teesside they are building all over the place including gems like this:

http://www.rightmove.co.uk/new-homes-for-sale/property-55582600.html

Who is going to buy them I've no idea...

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On 1/25/2017 at 10:37 AM, Assume The Opposite said:

£200k ish extra worth for a canal view:lol::lol:

It's actually one of the selling points for canal restoration, restore the ditch at the end of your garden back to the canal that it once was and you improve the value of your house, not that house owners do much in the way of restoring when there are restoration groups already doing it!

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