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eek

Desperate Developer

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I see a lot of developers prefering to sell on at over inflated land prices rather than being committed to a project depreciating faster than they can spend money rushing to complete it in a correcting housing market.

The papers full of speculative developers wanting to off load such developement oppertunities are indicative of expectations within the industry. Hence the VI spin machine goes into overdrive to try and cushion the effects, because they don't want everybody to head for the EXITS at the same time.

Ok some naïve FTB'ers are going to get "Smoked" but as they say, business is business. Anybody bought at or near peak are going to get a very expensive lesson on "market dynamics" in action over the coming years.

Edited by Catch22

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I see a lot of developers prefering to sell on at over inflated land prices rather than being committed to a project depreciating faster than they can spend money rushing to complete it in a correcting housing market.

The papers full of speculative developers wanting to off load such developement oppertunities are indicative of expectations within the industry. Hence the VI spin machine goes into overdrive to try and cushion the effects, because they don't want everybody to head for the EXITS at the same time.

Ok some naïve FTB'ers are going to get "Smoked" but as they say, business is business. Anybody bought at or near peak are going to get a very expensive lesson on "market dynamics" in action over the coming years.

That is my fear with this. I can easily afford one of the barns but unless all three are converted at the same time its simply not worth converting one of them. I'd be tempted at £100,000 at a push £150,000 for the lot so that I could convert the rest in my own time but at the moment its simply £150,000 too high and a single purchase is not worth the risk.

Conversions costs for the lot would probably be £150,000 or so on top for the three. Even in the worst market they would be worth £100,000 so the figures could add up but as any developer knows its the buying price where the profit is made not the final sale price.

Edited by eek

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21_1_b.JPG

It looks like an old slaughter house or abandoned airfield, where's the period charm?

Ahh... I've just looked at the price and have found the period charm, it's living a life of subsistence, serfdom and penury.

Edited by BuyingBear

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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