AvoidDebt Posted January 26, 2017 Share Posted January 26, 2017 The Times article about corruption scandal at Barrat. Contains a juicy insight into London collapse. However, his departure and the bribery allegations have cast a pall over the company at a time when it has resorted to selling London homes in bulk and cutting prices on luxury flats to combat a slowing property market in the capital. Two weeks ago it said that completions of homes in London had fallen by more than 50 per cent in the second half of 2016. Met reveals more arrests in Barratt bribery investigation An alleged cash-for-contracts scandal that has engulfed Britain’s biggest housebuilder went further than previously thought, the Metropolitan police said as it gave details of two further arrests at Barratt Developments. http://www.thetimes.co.uk/article/met-reveals-more-arrests-in-barratt-bribery-investigation-05n3hfj5m Quote Link to comment Share on other sites More sharing options...
darwin Posted January 26, 2017 Share Posted January 26, 2017 Well now, this could become a really good story **grabs popcorn** When they say completions had fallen by more than 50%, I wonder if they mean London in general or just Barratt Homes? Quote Link to comment Share on other sites More sharing options...
The Young and the Nestless Posted January 26, 2017 Share Posted January 26, 2017 4 hours ago, AvoidDebt said: ...it has resorted to selling London homes in bulk and cutting prices on luxury flats to combat a slowing property market in the capital. Two weeks ago it said that completions of homes in London had fallen by more than 50 per cent in the second half of 2016. Doesn't this just mean they are curtailing supply (completions) because they can see the slowdown in demand? (In order to keep prices high.) The only way this would help the people get affordable housing is if the government forced housebuilders to continue building through the period of slow demand. Unfortunately there is no incentive to do that, as there is no penalty for landbanking with no planning. The "Leave it to the market" approach doesn't seem to have worked in the case of the housebuilders. Quote Link to comment Share on other sites More sharing options...
billybong Posted January 26, 2017 Share Posted January 26, 2017 Quote Two weeks ago it said that completions of homes in London had fallen by more than 50 per cent in the second half of 2016. So not exactly in line with the Conservative claims of more new homes being built. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted January 26, 2017 Share Posted January 26, 2017 (edited) 3 hours ago, darwin said: Well now, this could become a really good story **grabs popcorn** When they say completions had fallen by more than 50%, I wonder if they mean London in general or just Barratt Homes? SW5 SW3 SW7 W4 W6 Edited January 26, 2017 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted January 26, 2017 Share Posted January 26, 2017 Not a scientific sample,but all transaction levels are near record lows. SW3 prime example.Before 2007 average was circa 50 per month Over the 6 months to Sept 16 they had 89 =average 14. Knightsbridge was in single figures in Sept 16 Stamp duty changes were in April. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted January 26, 2017 Share Posted January 26, 2017 Quote Link to comment Share on other sites More sharing options...
darwin Posted January 26, 2017 Share Posted January 26, 2017 7 minutes ago, Sancho Panza said: Not a scientific sample,but all transaction levels are near record lows. SW3 prime example.Before 2007 average was circa 50 per month Over the 6 months to Sept 16 they had 89 =average 14. Knightsbridge was in single figures in Sept 16 Stamp duty changes were in April. So tragic it's funny Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted January 26, 2017 Share Posted January 26, 2017 Just now, darwin said: So tragic it's funny makes you wonder what the people sat in Foxtons offices are doing because they're clearly not selling houses. Quote Link to comment Share on other sites More sharing options...
darwin Posted January 26, 2017 Share Posted January 26, 2017 (edited) Oh to be a fly on the wall in one of Foxton's offices right now. My reaction would go something like this: Edited January 26, 2017 by darwin Quote Link to comment Share on other sites More sharing options...
Orsino Posted January 26, 2017 Share Posted January 26, 2017 19 minutes ago, Sancho Panza said: makes you wonder what the people sat in Foxtons offices are doing because they're clearly not selling houses. They're making big fat juicy (and unjustifiable) fees off tenants who can be charged hundreds of pounds just for changing the date on a contract etc..... Oh, wait. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted January 26, 2017 Share Posted January 26, 2017 2 hours ago, darwin said: Oh to be a fly on the wall in one of Foxton's offices right now. My reaction would go something like this: Like it. Although having paid Countrywide the best part of £600 for the privilege of giving one of their LL's our custom my attitude is more Quote Link to comment Share on other sites More sharing options...
winkie Posted January 26, 2017 Share Posted January 26, 2017 When the land is so expensive how can ordinary local workers afford to pay the extortionate price? they can pay for the bricks and most probably the labour but not the land, how and more importantly why did the same mud as everywhere else become so costly?.....streets of London paved with gold!??? https://en.wikipedia.org/wiki/London_streets_are_paved_with_gold Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 26, 2017 Share Posted January 26, 2017 3 hours ago, Sancho Panza said: makes you wonder what the people sat in Foxtons offices are doing because they're clearly not selling houses. Dabiling in shares ? 93.47GBX0.03 (0.03%) You can;t loose on stocks and shares. Quote Link to comment Share on other sites More sharing options...
ChewingGrass Posted January 26, 2017 Share Posted January 26, 2017 Who pays for cash 4 contracts, you the purchaser. Where else does the money come from, corners cut. How do you know what corners have been cut, only time will tell. Will the NHBC warranty cover it, no, it will always be somebody elses fault. Quote Link to comment Share on other sites More sharing options...
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