Tuesday, July 5, 2011

Houses are cheap, apparently…

Persimmon builds fewer homes in the first half

Chief executive Mike Farley reiterated: "It's not affordability, that's the issue, it's the fact that [first-time buyers] haven't got deposits. People have been used to finding a 5% deposit. We're just trying to get back to the status quo situation … People have also been used to a 5% base rate but presumably you don't want that bit of the status quo?

Posted by timmy t @ 01:40 PM (1676 views)
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9 thoughts on “Houses are cheap, apparently…

  • “It’s not affordability, that’s the issue, it’s the fact that first-time buyers can’t afford them.”

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  • Mark Wadsworth says:

    “People have also been used to a 5% base rate but presumably you don’t want that bit of the status quo?” brilliant.

    I’m struggling with this fall in new builds – is it a) the New Localism-cum-NIMBYism achieving its stated aim or b) home builders deliberately reducing supply to keep prices up?

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  • If the Chief Executive really believes that then that company has got a problem .

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  • as much as 5% deposit. sarcasm intended.

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  • You’ve gotta admire the tenacity of his doublespeak.

    The high house prices elephant in the room is obviously starting to squeeze them a bit now.

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  • The BBC picked up on this story and finished the article by referencing that last week’s Nationwide report showied static prices. They conveniently ignored the much more comprehensive Land Reg details from last week which showed prices down in every region apart from London… I actually made a complaint to them about the greater exposure they gave the Nationwide numbers over the much more indepth Land Registry report.

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  • Europeanbear says:

    Drop the price by 75% and then a “normal” 5% deposit becomes a 20% deposit. Problem solved!

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  • europeanbear says:

    Cut the price by 75% and then the 5% deposit becomes 20%. Problem solved

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  • If you can’t afford a 5% deposit then you shouldn’t be trying to buy a house.

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