Random Daily Banter

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First Aspect

Legendary Member
I assume that Calstock doesn't count as a western part of Plymouth. I'm going to pass wind and a couple of hours there on the return.
It does not, although it is known in these parts as Hashtock.
 

Pblakeney

Squire
Unsurprisingly, the developers do extensive research on what the market is worth. This will impact what they'll pay for land in any given area. Similarly, when it comes to housing mix they will know what is required (and the local authority will have a say as part of the planning application). There is no point spending millions to develop a site if you can't sell the houses.

There seems to be a disjoint between "worth" and what unknowing incomers will sustain. No locals in my area will buy the new houses as they are overpriced for the local market. Incomers willing to commute seem to be more willing but will likely regret it once stuck in the bottleneck traffic. Locals generally have local jobs and/or can avoid the bottleneck to the city.
 

Pross

Veteran
That development near here where the affordable houses were never built, is still boarded up.

Interestingly, the new builds next to a rail line with miniscule gardens and about 1500 sq ft were going for about £50k more than ours, and £75k more than we spent. Ours is about 2500 sq ft and has over half an acre. If I could afford to, we could probably replace most of the single glazing and tart up the kitchen for the difference, and we'd still have more space and an actual garden.

I don't know how good the pricing is, sometimes. Or perhaps people just look at a new build and imagine that somehow everything that hasn't been used and stress tested yet will be less of a headache than an existing property.

Probably a relatively small chancer developer, they sometimes get caught out. The big companies generally know what they're doing unless there is some major unforeseen issue like the GFC.
 

First Aspect

Legendary Member
Probably a relatively small chancer developer, they sometimes get caught out. The big companies generally know what they're doing unless there is some major unforeseen issue like the GFC.
Exactly this. It was the largest they'd done and clearly the numbers weren't stacking up, hence inflated prices and trying to avoid the affordable ones.

They also, I suspect, did the initial pricing based on the COVID bubble they had here. Almost anything with a roof was going on for £1M and more. We only got ours for a realistic price because the owners didn't like the idea of it being a second home.

Some houses we looked at either still haven't sold 3 years later, or went for a lot less than originally hoped.
 
OP
OP
briantrumpet

briantrumpet

Timewaster
Some houses we looked at either still haven't sold 3 years later, or went for a lot less than originally hoped.

I think a lot of that is people having assumed prices would always go up, and no concept of cutting your 'losses' (though probably just means in house terms 'less of a profit').
 

Ian H

Shaman
That was mass.

When I was a child it was in Latin.
 

C R

Legendary Member
Can anyone explain this?
17806.jpg


Seen today on the M5, about 14 miles north of Worcester.
 
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