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bubbleturbo

More Anecdotal - Developers Feeling The Pinch

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I work in construction, so have a couple of ex-colleagues who are now in new positions. Managed to catch up with them both recently:

ANECDOTE 1

Friend one works for a small-ish property developer based in the South East. Him and the rest of the small company have been very bored for the last couple of months. The company has very little work on and nothing in the pipeline. They have not been able to make the sums add up so therefore have no land, no plans and no work. They are all currently whispering around the office, wondering when they are gonna be made redundant. The boss, is apparantly quite a proud man and does not want to make redundancies - that will be the whole company going to the wall shortly then.

ANECDOTE 2

Guy works for a development and building company. They built a few houses on a development up somewhere in Gloucestershire, near to Cirencester I believe.

Houses are priced at just under £300,000. They have held open days, etc, etc. Reduced the prices a couple of times so that they are now selling at no margin. Still not sold one of them. :lol:

:ph34r:

Incidentally, I was at a Laing development by the Thames recently and was in the sales office. They were having a meeting and I overheard them saying that although one of the blocks was now very near to completion, they had not sold any of them. :unsure:

Thats 2 1/2 anecdotals then.

Edited by BubbleTurbo

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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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