Nothing new but the fact that it’s in the Indo today is, I think, something new! It explicitly spells out why developers won’t cut prices, and why they’re offering to pay your mortgage for 6 months or buy you a new tv
“This was because developers will not resort to price reductions to sell houses because this would mean they were undercutting each other”
Reducing price would reduce revenue … not a good thing for the shareholder (even if it’s a private company). They’re trying to hold revenue while inventory increases … will have to sacrifice some margin.
Secondly, and more improtantly, the last thing the developers (and by extension EA’s, Lenders, Government) want is a slip in the published price. It sounds like it starting to move towards a buyers market …
With all the incentives out there at the moment, is it only a matter of time before a “we’ll pay your stamp duty” offer appears somewhere?
Think I may have seen it in a few of the US websites where sellers are looking to get attention without actually admitting defeat and dropping the asking price.