Whats gong to happen to used values?

NFS · 02-07-2009, 06:19 AM

Quote:

Originally Posted by beemerbird

As a possible 'light at the end of the tunnel' scenario, we have seen a marked increase in a particular type of application being lodged. Basically, plans of proposed developments are lodged, 'for approval' by us before the completed transfers of individual house plots are lodged for registration. This means that the building company are in the process of or are about to start a phase of development. Added to this, the increase of a particular type of official search, all points to a possible 'confidence' by some building companies that it is financially viable to build and sell these new properties.

Unfortunately, the property development industry is still fubar.

My guess is that housebuilders, like other developers, are taking the opportunity of getting their current investments in order.

Many will be thinking of selling land with planning approvals etc and making sure that title is in order will be key to that.

While debt is still an issue I can't see many housebuilders starting new projects.

Most of them have uncompleted phases of current developments to finish off first, where the infrastructure (roads, bridges, services) costs have already been incurred.

No recovery in this sector yet, but it will be one of the first to recover, because it was one of the first to got into recession.

Irnbrukid · 02-07-2009, 06:22 AM

On the car front was in the dealers last and was told by my salesman that they had sold only 10 new cars in Jan but had sold 96 used which was very good, he said it had been manic the last few weeks.
As others have said with the cutbacks at the car plants and less new cars being reg it will firm up the used car prices a bit, and there is still big discount on new cars.

On the house front think its just a blip some lenders are saying there was rise last month others saying still falling, and a few mates are in the trade and its dead has been for weeks and no sign of changing soon.
Even the others in different jobs are all under threat as well so think its going to get worse before there is any recovery or stabilty.

02-07-2009, 06:22 AM	#24
Irnbrukid Major 45 Rep 1,486 Posts Drives: Imaginary M2 Join Date: Jul 2008 Location: Scotland iTrader: (0)	On the car front was in the dealers last and was told by my salesman that they had sold only 10 new cars in Jan but had sold 96 used which was very good, he said it had been manic the last few weeks. As others have said with the cutbacks at the car plants and less new cars being reg it will firm up the used car prices a bit, and there is still big discount on new cars. On the house front think its just a blip some lenders are saying there was rise last month others saying still falling, and a few mates are in the trade and its dead has been for weeks and no sign of changing soon. Even the others in different jobs are all under threat as well so think its going to get worse before there is any recovery or stabilty.
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