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News from the coalface aka house builder inside info


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40 minutes ago, TheCountOfNowhere said:

Has this thread not been moved yet ?

You keep pushing it to the top so more people notice......anyway I am interested in knowing what the building companies are doing with the part exchange old properties they purchase, in order to sell a new one of their own.....insightful thread.?

Edited by winkie
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1 hour ago, winkie said:

You keep pushing it to the top so more people notice......anyway I am interested in knowing what the building companies are doing with the part exchange old properties they purchase, in order to sell a new one of their own.....insightful thread.?

Ponzi tastic.

 

I'm interested to hear what they are doing, so long as it's not made up troll bulls**t.

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2 hours ago, winkie said:

anyway I am interested in knowing what the building companies are doing with the part exchange old properties they purchase, in order to sell a new one of their own.....insightful thread.?

So am I. I assume each developer instructs their preferred EA to 'sell' the part-ex house?? :unsure:

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2 hours ago, TheCountOfNowhere said:

Ponzi tastic.

 

I'm interested to hear what they are doing, so long as it's not made up troll bulls**t.

Sales are down 90% and prices have been cut by two thirds, can my post stay on the board now as it matches your delusional view/hopes for the UK housing market?

Edited by maffo in oxford
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On 27/04/2018 at 09:44, maffo in oxford said:


I was wondering if people here would like some occasional info from the source, a bit like Honest Agent the estate agent blogger? Not sure that I could provide the more personal details or level of humour, but hopefully some useful facts on the state of play.

Thank you for posting.  This is definitely interesting.

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18 hours ago, maffo in oxford said:

Sales are down 90% and prices have been cut by two thirds, can my post stay on the board now as it matches your delusional view/hopes for the UK housing market?

I suppose a two thirds price cut could come in the form receivership, if the company's assets were sold off cheaply to a corporate buyer..

Edited by FabulousSophie
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21 hours ago, maffo in oxford said:

Sales are down 90% and prices have been cut by two thirds, can my post stay on the board now as it matches your delusional view/hopes for the UK housing market?

No.  It's all anecdotal.

Architect friend of mine saying new build sales starting to fall and they;'re expecting mass redundancies by end of the year.

They've killed the gold goose he said, the  prices are so extreme, so out of kilter with wages that sales literally dried up over the space of 3 months.  BTLers are out the game mostly there is a massive void with no one stupid enough to fill it.

He's worried. Very Very worried.

 

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I am working in the budget end of the market so there's still demand here via HTB, and the local Housing Association for both shared ownership and full rentals etc. All future build phases where I am working at still due to go ahead, none cancelled afaik in surrounding counties.


Morally, it's hard for me to work at this company considering the amount of ******** I'm expected to fob people off with i.e. buyers who have problems with their homes that should have been sorted at the snagging stage.

Edited by maffo in oxford
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2 hours ago, maffo in oxford said:

I am working in the budget end of the market so there's still demand here via HTB, and the local Housing Association for both shared ownership and full rentals etc. All future build phases where I am working at still due to go ahead, none cancelled afaik in surrounding counties.

1

As far as I can guess, or try to read the govt's mind, the govt want to keep house prices high, not crashing, partially in order to keep builders building houses. At least that way they get the volumes of house building up (which I gather is indeed the case).

As a long term solution to the housing crisis this is one way to go, given stable house prices/real terms gradual falls over coming decade(s).

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Let’s just say I’m also in the industry in the south. Most areas are selling well still, mainly due to either htb prop or certain areas which are typical retirement areas so cash rich downsizes. We have seen the larger properties 4beds start to struggle to sell in last 6 months, purely due to affordability. Certain rural areas have also seen heavy development in past few years and it now seems to be showing over supply of properties so slowing sales, reducing prices. 

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20 hours ago, hamish1985 said:

Certain rural areas have also seen heavy development in past few years and it now seems to be showing over supply of properties so slowing sales, reducing prices. 

It'll be interesting to see when we are told to pull the plug on developing the next phases, certainly not happening just yet.

Figures are due out first week of July apparently.

Edited by maffo in oxford
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9 hours ago, hamish1985 said:

We have one site which has been slowed right down and is now going through a re plan. Last time we did this was 2012 time on sites due to larger houses not selling, we end building smaller 2beds and 3beds in place of 4beds.

this is an interesting dynamic, sales slow, so instead you get more quantity of properties built. Sadly it seems the reasons sales slow is purely due to reaching a lending ceiling, not a function of lack of confidence as i suspect the smaller properties still shift at big prices.
 

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10 hours ago, hamish1985 said:

We have one site which has been slowed right down and is now going through a re plan. Last time we did this was 2012 time on sites due to larger houses not selling, we end building smaller 2beds and 3beds in place of 4beds.

Are the bigger houses not offered on some kind of (potentially dodgy) part exchange?

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Should see amount of construction in Bracknell it is jaw-dropping. Mostly "luxury" flats in large blocks. One just finished construction in a not-so-nice industrialised area with balconies opening onto a busy dual carriageway and directly opposite there is a disused vandalised and and boarded up office block which is the biggest eyesore for miles. When I was looking for a flat in Bracknell 2 years ago there were plenty already, now/soon there will be absolutely loads more. Who's going to live in them? Expecting deep rent falls at the very least.

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Found out a little more regarding the Part-Ex scheme.

1. 105% of the market value is offered for the exchange. I think this may explain some of the rises recently in various indices?

2. Some 'discount' is being offered on the (inflated) asking price of the new build.


Some mortgage lenders are still able to offer up to 5x joint salary by the looks of it,  wages would have been worked out via my day rate if i were still a contractor (which is rather worrying!) and potentially 35-40 year mortgage terms too. This is through my own research, I'm looking to buy myself sometime next year.
 

Edited by maffo in oxford
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On 20/06/2018 at 21:52, hamish1985 said:

We have one site which has been slowed right down and is now going through a re plan. Last time we did this was 2012 time on sites due to larger houses not selling, we end building smaller 2beds and 3beds in place of 4beds.

no chance of lowering the prices instead no?

On 21/06/2018 at 15:51, Funn3r said:

Should see amount of construction in Bracknell it is jaw-dropping. Mostly "luxury" flats in large blocks. One just finished construction in a not-so-nice industrialised area with balconies opening onto a busy dual carriageway and directly opposite there is a disused vandalised and and boarded up office block which is the biggest eyesore for miles. When I was looking for a flat in Bracknell 2 years ago there were plenty already, now/soon there will be absolutely loads more. Who's going to live in them? Expecting deep rent falls at the very least.

one can hope

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On 21/06/2018 at 15:51, Funn3r said:

Should see amount of construction in Bracknell it is jaw-dropping. Mostly "luxury" flats in large blocks. One just finished construction in a not-so-nice industrialised area with balconies opening onto a busy dual carriageway and directly opposite there is a disused vandalised and and boarded up office block which is the biggest eyesore for miles. When I was looking for a flat in Bracknell 2 years ago there were plenty already, now/soon there will be absolutely loads more. Who's going to live in them? Expecting deep rent falls at the very least.

I haven't been to the centre for years but i thought the outer was well supplied with smaller houses (the ringmead areas)

I thought the 3m tower was the eyesore of the town!

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