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http://www.thisisbristol.com/displayNode.j...tentPK=14006874

First-time buyers desperate to get on the property ladder queued round the block to be first in line for an affordable starter home. Builders have yet to secure planning permission for the 106 new homes and workmen are not even close to beginning laying the foundations.

Despite only having blueprints to look at, hundreds of hopeful buyers lined up as Redrow Homes unveiled plans for its new estate at Stoke Gifford.

Prices start at £59,995 - almost half the cost of an average first-time property in the city.

Deposits were put down on all 106 properties in less than an hour and a half, and there is a long waiting list of people standing by to fill in if prospective buyers drop out.

At the moment, the homes only have outline planning permission as Redrow has only just submitted its application to South Gloucestershire Council's planning department.

It wants to build 106 one and two-bed homes on the Old Colstonians Ground, near Bristol Parkway Station, which range in price from £59,995 to £119,995.

The development comprises 50 single-storey one-bed properties, 28 two-storey one-bed homes and 28 two-bedroom two-storey homes.

Redrow held an exhibition at Filton College to showcase its proposals and put its plans on view to the public.

Cherise Leaver, aged 21, right, was among those who paid a £50 pre-registration fee to secure one of the homes.

She lives with her parents in Bridgeyate and until now had little hope of buying a place of her own.

Cherise, who works at South Gloucestershire Council as an administration support officer, said: "I queued up for more than two hours to get into the exhibition but there were 15 or 20 people ahead of me.

"When the doors opened, everyone rushed in.

"Now we've paid the £50 fee, we will be asked if we still want the property if Redrow gets planning permission."

Cherise went for a two-bedroom, two-storey home, costing just under £110,000.

She said: "This is the only chance I'll get to buy my own home because house prices are absolutely ridiculous and I just wouldn't be able to afford it."

Civil engineer Richard Williams and his girlfriend, Hannah Webb, both 24, also put their names down for a £110,000 two-bedroomed home.

They have been renting a one-bedroomed flat in Bradley Stoke for the past year and had researched the Redrow plan before going to the exhibition.

Richard said: "We didn't think we would be able to buy our own place for a long time because the mortgage repayments would kill us."

Richard said they had been told they could pull out of pre-registration at any time but if they wanted to continue and everything went to plan, they could be in their new home by early 2007.

Rachael Baillie, sales director for Redrow Homes (south west), said: "It was unbelievable. Our open evening didn't start until 5pm but people began to queue at 9 in the morning. We opened the doors at 5pm and by 6.20pm we had taken a registration against every one of the plots.

"It was supposed to be a chance for people to view our plans, find out about the Debut concept and for us to gauge the likely interest. Instead we had people practically fighting to buy the properties and had we been able to take reservations, we would have sold them all two times over."

She said it clearly demonstrated the pent-up demand in the area for affordable first time buyers.

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A few people where I work have signed up for one of these. Apparently they are using new building techniques (light weight steel frame - not bircks and mortar) which means some lenders will not give a mortgage against them.

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The catch is that these £60k 'one bedroom' homes are 250sqft. That's about the size of a double garage.

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The catch is that these £60k 'one bedroom' homes are 250sqft. That's about the size of a double garage.

Hang about, lighweight steel frame, about the size of a double garage.... <_< hmm? If its made like a garage, about the size of a garage...it's probably a garage! :lol:

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The catch is that these £60k 'one bedroom' homes are 250sqft. That's about the size of a double garage.

It's about the size of a decent double bedroom....

I think this should be illegal. Minimum room sizes should be legally enforced IMO. It would guarantee half decent housing stock for the future.

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It's about the size of a decent double bedroom....

I think this should be illegal. Minimum room sizes should be legally enforced IMO. It would guarantee half decent housing stock for the future.

if you look here http://www.debutbyredrow.co.uk/Walkthrough.aspx you can watch the video of some young floozy mincing around her "debut" home. <_<

the washing machine appears to be in the bathroom, thus presumably allowing one to watch one's smalls go around and around whilst sitting on the pan. :P

hmmm - any young person watching that would be better off signing up with the VSO or something and spending some time/the rest of their lives outside of a country which thinks they should live lives akin to those of laboratory rats. :angry:

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If people are that desperate then I am surprised we haven't had any FTBer traveller style camps.

Get a load of people together in the same situation and buy a cheap caravan each.

Find a bit of space somewhere - would raise the profile for them somewhat!!?

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So how do they stop the "first time buyers" flipping the properties onto the "mad" housing market?

That one is simple enough - by then nobody will need to buy them, so they will be practically worthless.

I suspect the asking price now is the most the properties will ever be worth in real terms. Kind of the opposite of the property ladder.

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It's about the size of a decent double bedroom....

I think this should be illegal. Minimum room sizes should be legally enforced IMO. It would guarantee half decent housing stock for the future.

250 square foot in London would be at least 2 double bedrooms (10x12 or 11x 11)

Some are even smaller - 7x10

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I live in Bristol and read about this a few weeks ago in the local paper.

On the surface it seemed like a good idea to me.

The development is aimed at first time buyers only, as an attempt to help them onto the property ladder. Redrow apparently won't allow them to be sold to speculators.

For first time buyers who do buy, there are going to be be clauses in the (contract/lease) ? or whatever to stop them being sold on for speculative gain. Not sure of the exact details.

I did want to go and have a look, just to be nosey. Glad I didn't though, cos of the queque.

I'm not suprised the flats were snapped up. It's hard for FTB's in Bristol. To give you an idea, London is supposedly the 10th most expensive city in the world, and Bristol is the 11th !!!!!!!

It is expensive because it is a nice city and is convenient for other areas such as London, Wales, the West Country and the Midlands.

There is hardly any property for sale under 100K. If there is, it is usually an ex-council flat.

120K will get you a small terraced house in the less desirable areas.

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So how do they stop the "first time buyers" flipping the properties onto the "mad" housing market?

A lot of the builders have clauses that dont allow you to sell within a 6 mth period after completion.

D

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250 square foot in London would be at least 2 double bedrooms (10x12 or 11x 11)

Some are even smaller - 7x10

Agreed - it's about the size of 2 bedrooms. Problem is that they're fitting a bedroom, living room, kitchen, bathroom and storage space in that area :o

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Quick build - happy :)

250 sq ft - sad :(

The annoying thing is that waitingpatiently is correct in stating that this class of housing is desperately needed, and not just in Bristol.

But 250 sq ft??? That;s ridiculous for anything you are describing as a 'house'. I had a converted garage with it's own facilities under my house which was 250 sq ft, and I considered it to be a bedsitter.

With very careful design I think it would be possible to have a 1-bedroom house/flat with 300 sq ft of floor space which was suitable for long-term occupation by a single or couple. That would probably mean 320-330 sq ft measured at the outside walls.

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I'm not suprised the flats were snapped up. It's hard for FTB's in Bristol. To give you an idea, London is supposedly the 10th most expensive city in the world, and Bristol is the 11th !!!!!!!

I don't know where you got this from but it's not true. Bristol is not cheap, but Bath, Oxford and much of the south east are more expensive.

There is hardly any property for sale under 100K. If there is, it is usually an ex-council flat.

120K will get you a small terraced house in the less desirable areas.

This is no different from the rest of the south (I can't speak for the north), and is why you are better of renting.

Unless you are a hermit or agoraphobiac you're likely to outgrow a small 1 bed starter home in just a few years; in a market where prices aren't rising and you can rent a similar property for less than the interest on the mortgage payments, you should rent and wait & see.

Anto.

Edited by anto

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  • 301 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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