I want to share an interesting information for you

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Celena
Posts: 1
Joined: 13 Sep 2019 21:03

I want to share an interesting information for you

Post by Celena » 14 Sep 2019 03:57

So Dylon Works development might not now have as many private homes as originally expected if report in today's FT is accurate. Seems developers are not getting the individual private sales they expected at the price they want so bulk buying landlords moving in taking them at a discount to original expected price. Same thing across London.

Good news for social housing sector and those seeking to get somewhere to live outside private rented sector.

"The chief executive of Crest Nicholson, Patrick Bergin, said last month the housebuilder had sold 69 homes at the Dylon Works development in south London to a housing association. “We did this [sale] because we knew we would otherwise have [unsold] built stock,” he said. “With the discount, compared with the costs of holding stock and the costs of marketing, we generally find a bulk sale can be achieved at a level that makes a contribution to ebit [earnings before interest and tax] even if not at the gross margin we had anticipated.” "

alywin
Posts: 716
Joined: 27 Aug 2009 12:33
Location: Penge side of Sydenham

Re: I want to share an interesting information for you

Post by alywin » 15 Sep 2019 19:19

They've sold more? I thought they sold some to a housing association some time ago.

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