Gentoo new builds Pennywell area

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The real con here is that Gentoo (previously Sunderland Housing Group) acquired the council house stock for sweet FA years back.
They demolished the old houses that this area is now being built upon, and are trousering huge wedge into the bargain.
Sunderland have lost out not only from the revenue but also the sale of the land.
The only thing the city will get is the council tax income.
You couldn't make it up.
 


RestlessNatives said:
Houses are worth as much as people are prepared to pay. If they are over priced, they won't sell.
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The supply and demand is pushing the prices up massively and I think that’s reflected in the price not the actual property itself.

Looking at the houses for 250K. If I had 250K lying spare I wouldn’t be paying £200K for one of them on Gentoos list
 
Ciro_DiMarzio said:
House builders are taking the piss with prices everywhere. Can't see it happening anytime soon but alot of people will be fucked if the interest rates go up even just a couple %.
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Would be very interesting if that happened , a house price dip wouldn’t be a bad thing really . Problem is rates have been Rick bottom for 10 year now and show no signs of changing

on a sidenote a lot about the pennywell development doesn’t stack up , the way it has all been done
 
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RestlessNatives said:
Houses are worth as much as people are prepared to pay. If they are over priced, they won't sell.
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I often wonder if many of those who are buying them dont really pay much attention to the actual price but rather the monthly cost. You often see on new developments adverts saying you can buy this house for £400 a month etc
 
42 said:
I often wonder if many of those who are buying them dont really pay much attention to the actual price but rather the monthly cost. You often see on new developments adverts saying you can buy this house for £400 a month etc
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That's about to change because of the new help to buy rules.
The local limit is very low and the new build market will take a hit.
 
Fletch said:
Would be very interesting if that happened , a house price dip wouldn’t be a bad thing really . Problem is rates have been Rick bottom for 10 year now and show no signs of changing

on a sidenote a lot about the pennywell development doesn’t stack up , the way it has all been done
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royalmush83 said:
I worked on the 1st phase and the build quality was absolutely shocking, I warned 2 young couples who we know not to buy one but they did anyway and both had bother.
Can’t comment on the new phase though.
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My firms been in and putting loads off Shoddy work right, pulling ceilings down all the I Beams and metal studs were creaking
 
Barboza dh9 said:
My firms been in and putting loads off Shoddy work right, pulling ceilings down all the I Beams and metal studs were creaking
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Not surprising in the least, I only went there between sites, we’d just finished on the river quarter in town and were waiting for another site to start. Only really done a few bits of finishing and snagging. They were atrocious quality wise.
 
Upthere said:
Has anyone got any knowledge/experience of the new builds in the Pennywell area?

Friend of mine was looking and seen the asking price and couldn’t believe it so he’s now unsure. Then we’ve seen comments on Facebook (I know) from the locals who have their concerns.

Can anyone add an option? Don’t want to waste time and effort looking if it’s looking bleak
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What's the locals concerns
 
royalmush83 said:
Not surprising in the least, I only went there between sites, we’d just finished on the river quarter in town and were waiting for another site to start. Only really done a few bits of finishing and snagging. They were atrocious quality wise.
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At Doxy they had a Facebook group , people complaining about the work
 
They’re worth what people are willing to pay and by all accounts they are selling well even though they only went up for sale the last few days I believe.
 
Butcher's Coat said:
The real con here is that Gentoo (previously Sunderland Housing Group) acquired the council house stock for sweet FA years back.
They demolished the old houses that this area is now being built upon, and are trousering huge wedge into the bargain.
Sunderland have lost out not only from the revenue but also the sale of the land.
The only thing the city will get is the council tax income.
You couldn't make it up.
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The council weren't allowed to raise funds for the modernisation the properties needed, (and it needed a lot) hence they sold them for a token amount (£1 I think).

Gentoo are a not for profit company and the money they make off private sales is used to subsidise the social housing side of the business.
 
Wouldn’t pay £250k for one, but Pennywell is not as bad as it use to be. On par with Grindon, Springwell and the likes. Rather live there than Pallion, Southwick, Milfield and Hendon.

Estate agent would advertise it as up and coming area 😉
 
royalmush83 said:
Any idea which phase? There’s been quite a few up there. I worked on the 1st phase in 2006 and they were decent, not as good as Carley hill built earlier though.
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Think they were last phase must off changed specs for cheapness, I know they have moved the Staff on who were involved in that stage though
 
Onion Ring said:
Wouldn’t pay £250k for one, but Pennywell is not as bad as it use to be. On par with Grindon, Springwell and the likes. Rather live there than Pallion, Southwick, Milfield and Hendon.

Estate agent would advertise it as up and coming area 😉
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With easy access to the a19, KFC, the general hospital, the ancient village of south hylton and the cosmopolitan attraction of hylton road
 
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