DannyS Posted August 29, 2017 Report Share Posted August 29, 2017 Had to laugh (otherwise id probably cry) Theres a new housing development going up near me so thought id pop in to enquire. The 3 bed semis - prices starting at £750k.....i laughed an left I know house prices are ridiculous especially in the south east but really!? Sorry but I just had to tell someone lol Quote Link to comment Share on other sites More sharing options...
Cosd Posted August 29, 2017 Report Share Posted August 29, 2017 (edited) It's all about Location. Even if you think the prices are too high for the area, it takes just one developer to stretch the market and a president is set. It also raises prices around it, so benefit is there more so for the the people who don't spend anything on their houses as their net profit soars in comparison. Edited August 29, 2017 by Cosd Quote Link to comment Share on other sites More sharing options...
JohnfromUK Posted August 29, 2017 Report Share Posted August 29, 2017 It's supply and demand; often new build will start with the most optimistic prices ....... and if they sell, ...... well and good for the developer. If after a period the developer finds there is little interest, you can be sure the prices will be 'more flexible' as the developer accepts a lower margin to move some stock, though they probably won't exactly shout this from the rooftops. Quote Link to comment Share on other sites More sharing options...
ditchman Posted August 29, 2017 Report Share Posted August 29, 2017 same here in Brundall....a new 8 house development ....houses 750k to 1.3million..........bloody joke.. Quote Link to comment Share on other sites More sharing options...
AVB Posted August 29, 2017 Report Share Posted August 29, 2017 same here in Brundall....a new 8 house development ....houses 750k to 1.3million..........bloody joke.. That's one reason we aborted our move to Norfolk. Prices had become close to what they are in Hertfordshire. And people are still buying them. Quote Link to comment Share on other sites More sharing options...
JDog Posted August 29, 2017 Report Share Posted August 29, 2017 Location, location, location. Here in the Wolds prices are much more reasonable. I know of a five bedroom manor house in a quiet village in it's own grounds in good condition which has remained unsold at £450,000. I am in the process of buying a house which was new twelve years ago and I am paying considerably less than it was sold for when new. Quote Link to comment Share on other sites More sharing options...
DannyS Posted August 29, 2017 Author Report Share Posted August 29, 2017 Yeah of course, being in the London commuter belt is always going to push prices up. The G/F and i are going to have to move away in order to buy a house as we just cant afford where we are. Which is a shame but as neither of us work or want to work in London, we're not tied to here so can move anywhere, which is quite exciting lol Quote Link to comment Share on other sites More sharing options...
Stonepark Posted August 29, 2017 Report Share Posted August 29, 2017 Planning, planning, planning..... If it wasn't for the planning system limiting building land and where you can build, houses would be in general be a lot cheaper Quote Link to comment Share on other sites More sharing options...
BrowningB525 Posted August 29, 2017 Report Share Posted August 29, 2017 Planning, planning, planning..... If it wasn't for the planning system limiting building land and where you can build, houses would be in general be a lot cheaper The irony is that local residents (anywhere in the country) bemoan planners for accepting developments talking of Brown envelopes etc. Quote Link to comment Share on other sites More sharing options...
Jason_ox Posted August 29, 2017 Report Share Posted August 29, 2017 Prime building land is over £1,000,000 an acre in the south east area. Developers got to get their monies worth but these days it seems it's quantity rather than quality. I would not buy a new build going by veiwing and hearing about them. Quote Link to comment Share on other sites More sharing options...
Dellbert Posted August 29, 2017 Report Share Posted August 29, 2017 3 development around us have 'affordable' 3 bed houses at £375000 meaning a first time buyer would need around £40000 as a deposit and fees . Quote Link to comment Share on other sites More sharing options...
Dellbert Posted August 29, 2017 Report Share Posted August 29, 2017 it will all drop back or at least stagnate in the next few years ,as it normally does especially the amount being allowed to be built on green belt land means there will be an un affordable glut (after all how many can the London housing associations buy in Essex ) Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted August 29, 2017 Report Share Posted August 29, 2017 (edited) Edited August 30, 2017 by four-wheel-drive Quote Link to comment Share on other sites More sharing options...
Mungler Posted August 29, 2017 Report Share Posted August 29, 2017 Had to laugh (otherwise id probably cry) Theres a new housing development going up near me so thought id pop in to enquire. The 3 bed semis - prices starting at £750k.....i laughed an left I know house prices are ridiculous especially in the south east but really!? Sorry but I just had to tell someone lol Where is that? It sounds pretty toppy for even the South East. Quote Link to comment Share on other sites More sharing options...
scobydog Posted August 29, 2017 Report Share Posted August 29, 2017 There is @ 1000 properties being built very close to me , cheapest 1 at the moment is £698, 000, dearest £1.2 million, nothing on the site under £0.5 million until they do the affordable stuff which will still be £300,000 or thereabouts. Not exactly the starter homes needed in this country, when the site is totally finished it will be a new town with 3000 new properties. S Quote Link to comment Share on other sites More sharing options...
Dellbert Posted August 29, 2017 Report Share Posted August 29, 2017 most 'affordable' stuff goes to housing associations Quote Link to comment Share on other sites More sharing options...
Vince Green Posted August 29, 2017 Report Share Posted August 29, 2017 (edited) Thats why South Wales is such incredible value. Check it out on zoopla I do believe there is going to be a big slump in the housing market. The remain camp will be unbearable blaming it all on Brexit but the real reason (in the Home Counties) is the recent cap on housing benefits. Uncontrolled Benefits have a lot to be blamed for in the past, it inflated the rents being charged and that inflated the house prices. Now hundreds of those houses are being sold off because the benefits are capped and tenants can't pay the inflated rent any more. Edited August 29, 2017 by Vince Green Quote Link to comment Share on other sites More sharing options...
Dellbert Posted August 29, 2017 Report Share Posted August 29, 2017 The cap on benifits means the London housing associations are buying up properties outside for their 'tennants' after all 1 house in Stratford would be worth 2 near me . Quote Link to comment Share on other sites More sharing options...
Guest Posted August 29, 2017 Report Share Posted August 29, 2017 3bed new £130,000 4bed £150,000 round this area Quote Link to comment Share on other sites More sharing options...
subsonicnat Posted August 29, 2017 Report Share Posted August 29, 2017 All house prices as far as I am concerned should be how much it cost's to build. Not as is Done now with agents getting fat on their guess's as to how much it should be.. The whole thing is an out of control mess.. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted August 29, 2017 Report Share Posted August 29, 2017 Thats why South Wales is such incredible value. Check it out on zoopla I do believe there is going to be a big slump in the housing market. The remain camp will be unbearable blaming it all on Brexit but the real reason (in the Home Counties) is the recent cap on housing benefits. Uncontrolled Benefits have a lot to be blamed for in the past, it inflated the rents being charged and that inflated the house prices. Now hundreds of those houses are being sold off because the benefits are capped and tenants can't pay the inflated rent any more. It's not just that. The new tax changes to landlords means they now pay tax on rent collected before the mortgage payments etc are taken out. Lots of landlords who would re-mortgage and buy more property every few years now have an "income"that's pretty big, it after mortgage and expenses isn't massive. Thing is they now have to pay tax on that "income" and only get a 20% tax relief, making many landlords now pay a lot more tax. The deposit protection scheme was also a great way to get tenants to report landlords who aren't registered. If your landlord doesn't put your deposit into a protected scheme they can have huge fines, yet once they're in those scheme the tax man will easily be able to see who owns what and their rental income. Quote Link to comment Share on other sites More sharing options...
Dellbert Posted August 29, 2017 Report Share Posted August 29, 2017 It's not just that. The new tax changes to landlords means they now pay tax on rent collected before the mortgage payments etc are taken out. Lots of landlords who would re-mortgage and buy more property every few years now have an "income"that's pretty big, it after mortgage and expenses isn't massive. Thing is they now have to pay tax on that "income" and only get a 20% tax relief, making many landlords now pay a lot more tax. The deposit protection scheme was also a great way to get tenants to report landlords who aren't registered. If your landlord doesn't put your deposit into a protected scheme they can have huge fines, yet once they're in those scheme the tax man will easily be able to see who owns what and their rental income. Well i am a landlord of two properties (its my pension/inheritancefor the kids ) i rent at a lower than agent figure but now with the new mortgage /tax changes i will put up the rents more in line with everyone else (which for one place will be £100 a month ) it will mean i will make very little more and maybe even lose a tennant .I was also planning on buying another but wont be doing that now .The whole rental sector will be run by the big boys in a few years ... Quote Link to comment Share on other sites More sharing options...
team tractor Posted August 29, 2017 Report Share Posted August 29, 2017 My house is a end terraced 4 double bed , rear garden , 6 car parking, 2 bathroom, gun room, and garage and is currently valued at £180,000 My mums is the same spec but detached and 1 mile away but £340-350,000. Yes hers is nicer I won't denie( wish I had it) but it's the area. Now if I drive over the river and 500 yards I enter a local village. The same spec again is £500,000 . We are currently having over 3000 houses built in my town but another 2000 within 8 miles. It's crazy around Tamworth at the moment but because it's great for commuting from , the houses will sell. We can be at south, west, and east coasts within 2 hours Birmingham , Leicester, Nottingham, derby, burton, Coventry etc within 30 minutes. Unfortunately most of the land I remember as a kid is built on and I'm only 35 Quote Link to comment Share on other sites More sharing options...
Mice! Posted August 29, 2017 Report Share Posted August 29, 2017 The idea of a three bed semi being £750k is simply frightening, I get they need more houses but that is shocking are you sure they didn't say £75k 😲 Sounds like everyone should move oop north 😄😄 Quote Link to comment Share on other sites More sharing options...
AVB Posted August 29, 2017 Report Share Posted August 29, 2017 The idea of a three bed semi being £750k is simply frightening, I get they need more houses but that is shocking are you sure they didn't say £75k 😲 Sounds like everyone should move oop north 😄😄 The price of whippets and flat caps will go up! I can see an opportunity there. Quote Link to comment Share on other sites More sharing options...
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