Random Daily Banter

[Pblakeney]

Housing crisis is a supply and demand issue. Bollocks!
New developments in our village means that it will become a town. Extra supply so house prices will drop? Nope.
The new house asking prices are double the price of comparable existing houses. Anyone believe that they are better built?
FWIW, no locals are buying the new houses.

 

[C R]

Housing crisis is a supply and demand issue. Bollocks!
New developments in our village means that it will become a town. Extra supply so house prices will drop? Nope.
The new house asking prices are double the price of comparable existing houses. Anyone believe that they are better built?
FWIW, no locals are buying the new houses.

It is a supply issue, because the developers don't build the type of houses needed.

 

[Pblakeney]

It is a supply issue, because the developers don't build the type of houses needed.

...and price them for maximum profits, not the local pricing.
I hope they get burned. Most of the first built ones are still empty after 6 months of completion never mind going on sale.

 

[briantrumpet]

...and price them for maximum profits, not the local pricing.
I hope they get burned. Most of the first built ones are still empty after 6 months of completion never mind going on sale.

I suspect that housebuilders haven't really accepted how flat the market is overall and adjusted prices accordingly. Given the birthrate, and if we end up with net emigration because of the hostility to immigration, I can't see why the market should take off again, especially if the buy-to-let bubble has been burst with the Renters' rights bill.