The new houses being built down Burdon Lane


One of the builders (pretty sure it’s Story) have already delayed their phase because of costs. All the subbies have been sent to a site in Newcastle. Bellway, Taylor Wimpey and David Wilson still chomping on

Yeah that site on the corner of Burdon Road and the main Doxy to Ryhope Rd. They started doing the groundwork and then pulled off site.

I just don't see where the people are coming from to take the 600/900 homes being built but I'm sure the respective builders have done their homework ?
Homes for 2 bob snobs ruining the countryside

Bit harsh that mind, what makes you say that ?
 
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Most of these new builds around burden doxy will get moth balled just like in 2008.

For instance duchy 4 bed detached is going cost you £3649 in stamp duty on £325k purchase then the mortgage with 10% deposit going cost you £1833 month over 25 years. Who the hell can afford that plus all your other bills.
 
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Most of these new builds around burden doxy will get moth balled just like in 2008.

For instance duchy 4 bed detached is going cost you £3649 in stamp duty on £325k purchase then the mortgage with 10% deposit going cost you £1833 month over 25 years. Who the hell can afford that plus all your other bills.
Very few . But year or two back some youngsters were unrealistic and loading themselves with high debt thinking interest rates would remain next to nowt forever , call centre workers (just as an example) with £200k mortgages , nuts
 
Have all the houses on Lumleys estate been sold? I remember they were going to be too expensive for the area. Very high spec they were as well.
It’s great for the area but typical of Sunderland's luck it seems the timing ( interest rates ) could be against us.
 
Have all the houses on Lumleys estate been sold? I remember they were going to be too expensive for the area. Very high spec they were as well.
It’s great for the area but typical of Sunderland's luck it seems the timing ( interest rates ) could be against us.
No.
 
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Nowt to do with costs, its to do with interest in sales. All will slow a lot soon unfortunately. Interest rates have killed the market
Bit of both really, material costs have rocketed over the last 18 months, some 50-75% plus, labour has also shot up and everywhere has a ceiling price.
Interest rates are a huge worry too like.
 
David Wilson has just released some.

I wouldn’t buy at the minute like, arse is about to fall out the market IMHO
Know a few people who stretched themselves during Covid. Didn’t tie in to longer term mortgage deals and those deals are coming to an end soon. Worrying times for a lot of folk.
 
Yeah that site on the corner of Burdon Road and the main Doxy to Ryhope Rd. They started doing the groundwork and then pulled off site.

I just don't see where the people are coming from to take the 600/900 homes being built but I'm sure the respective builders have done their homework ?


Bit harsh that mind, what makes you say that ?
If they built the same house at the same price in Hendon, would they buy them then? Crazy prices for the NE
 
25 year mortgages won’t be the standard anymore it’ll be 35-40 year mortgages.

320k house 16k deposit 1.1 - 1.3k a month
 

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