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How have larger new build properties been impacted price wise?

6 replies

slackrunner · 27/06/2009 18:50

We have seen a new build bungalow that we'd potentially be interested in - however it seems massively overpriced (been sitting on market for a good six months I reckon).

Our top price is 85% of asking price - is it worth even going to see it or are we being overly optimistic?

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jeee · 27/06/2009 18:51

It won't cost you anything to look. And 85% of the asking price sounds a pretty good offer if it's been sat there for 6 months.

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slackrunner · 27/06/2009 19:04

You're right jeee. I guess I'm looking for a view on how much new builds have dropped by - I know that new build flats for example have dropped by up to 40% . This house is 200 ft2 more than our current house, and they're asking £270K more than we've just accepted (for our lovely characterful, fully renovated early Victorian house ).

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Fimbo · 28/06/2009 20:44

I live in a top of the range 5 bed new build (god that sounds smug ).

Anyway, my neighbour across from me needs to move as her dh has a job in another part of the country, her agent advised her to put it on for £60k less than what she paid for it nearly 2 years ago to "get it sold". The assumption being that she is desperate to move.

We on the other hand are not going to be moving for years so can afford to ride it out.

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slackrunner · 28/06/2009 21:22

Fimbo - this is a brand spanking new build (top of the range 5 bed in fact lol). My understanding is that it is the brand, brand new properties like this one that I'm about to view that have taken the hit (as builders get desperate to liquidate their assets again), rather than new-ish properties IYSWIM.

I guess it depends on how quickly this builder needs to see his cash again....

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Fimbo · 29/06/2009 12:57

Slackrunner - the bungalow is not in Norfolk is it?

There is a small estate just being finished in my village by an independant builder, with a bungalow as you describe.

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slackrunner · 29/06/2009 21:25

Nope Fimbo - we're in the deepest darkest SW! Unfortunately someone has just offered on it - so that's blown my idea of maybe getting a discount dead in the water. Time for house buying Plan W.