Tuesday, Jul 11, 2006

New flats take a tumble

Home.co.uk: New home prices fall - dragged by apartments

A glut of new flats on the market has caused developers to cut prices. In doing so the avarage price for all new homes has dropped.

Posted by tinecu @ 12:58 PM (605 views)
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6 Comments

1. bidin'matime said...

Surprise, surprise. Economics in action. Should be good news for single FTB's. The rest will have to wait a bit longer while the effect moves up through the market.

Tuesday, July 11, 2006 01:16PM Report Comment
 

2. inbreda said...

await the backlash when the PR departments in the VIs gain motion

"AFFORDABILITY IMPROVEMENT CAUSES EXPECTED FLOOD OF FTBs BACK TO THE MARKET CREATING IMPROVING FUNDAMENTALS AND MASSIVE PRICE INCREASES AND HOUSES ARE THE BEST INVESTMENTS"

Tuesday, July 11, 2006 01:31PM Report Comment
 

3. Gregzki said...

Hi Bidin

New 2 bed flats are on the market where I live for over 250K and lots of them. Spoke to developer at the weekend and no incentives are been offered as there is no need. This is an obvious stretch for single FTB's - Amazingly, a couple of these are up for rent at circa 900pcm - the developer assured me that this is a good return!?

Tuesday, July 11, 2006 01:44PM Report Comment
 

4. Bubbles. . . . said...

iNBREDA I agree with that statement...But affordability wont happen unless we all have major pay rises...average wage is 27,500 ok im on 50K but still not buying into this market at present its toooo over inflated with speculators BTL...Certainly dont want to support that...Hey wont that just mean more BTL apartments..Keep building that portfolio REALLY cant go wrong in property think thats a flash back to 89 when the same thing was said...Wot happened then we all know from the graph on this site.....

Tuesday, July 11, 2006 01:55PM Report Comment
 

5. Superruss said...

interesting to see how in this article they go to great pains to explain that its only FTB cupboards - sorry apartments - that are dropping in value.
Yet we dont get such a tentative breakdown when London seemingly artifically inflates the rest of the UK market for a few months...

Tuesday, July 11, 2006 02:33PM Report Comment
 

6. Sloth said...

Bubbles,

just ask any Dot com investor, yeild doesn't matter any more.

Tuesday, July 11, 2006 08:05PM Report Comment
 

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