Downvaluing damaging sales

June 1, 2009
Lenders and surveyors are downvaluing new homes by up to £20,000 throwing transactions into disarray and denting housebuilders’ hopes of improving sales. Valuers are giving little or no new build premium, pricing new homes against the second hand market. “New build is being valued in the same way as any other build,” said Georgina Newcombe, sales director of William Davis. …

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