RE: FED holds interest rates20 Mar 2025 07:52
"4/5 beds sat empty, priced between £4-500k"
Ant
I think its generally true that larger new build houses take longer to sell, but I agree its crazy for any completed homes to be allowed to sit there empty. I cant imagine the stamp duty hike next month will make them any more appealing and I think developers often start to offer pricing or content incentives when homes really hang around.
That said, new builds still seem to be more popular than older houses because you can park right outside the front door, dont have too much garden to manage and have about three feet between you and your neighbour. I dont personally have much confidence in the new build homes guarantee, but it seems Im in a minority and people will look at this as a get of jail free card if there are any persistent snags or construction quality issues.
Crazy indeed to have these homes empty when there are plenty of large families sitting in expensive and crowded Temporary Accommodation. But thats the price of a market led housing supply.