Barrat homes made 200 houses in this development.
Now only 6-7 Vimy 3 bed houses are remaining and rest are sold.
They sold Vimy houses for £284,000 just before Xmas (see the list dated July, 2013 that they had sent to me) and now they have put these houses down for £330,000. That’s £46,000 jump in about a month. I feel that it’s a nexus between the surveyers, valuation agencies and the builder to loot the customer.
The desperate first time buyers are perhaps not even aware that they are going to get into a negative equity of £46,000 the moment they buy these houses. We all know that the new houses are appreciated by around 20% in price (Crayford has never sold a 3 bed house for £300,000+ even at the peak of the market).
Therefore, if you buy these houses for £330,000 now- they will still be below this price in 5-10 years.