Discounts in resale of London's residential new builds
Resales of several London properties have been noted as listing at prices below the contract or the original developer's price according to Propcision. While often the original purchase price is not given, several developments for apartment complexes across London - especially those overlooking the Thames - are reportedly being offered at "a significant discount". These include the Riverlight Scheme, which lists an apartment for £1,585,000 ($1,946,000) at a £100,000 discount, an Abell and Cleland Westminster development that lists an apartment at £1,825,000 with a £200,000 discount, and an apartment at One Blackfriars listed at £2,450,000 at a £250,000 discount.

Published: 11 January 2017 - Updated 10 March 2017

Lately, we have been spotting property listings suggesting that the seller is willing to sell their off-plan/new-build at a price that is under the original developer's contract price. We quickly jotted down a few examples of the listings and will update this list from time-to-time.

This information helps us to understand the market. Typically, the original purchase price of an "off-plan" property is opaque as the transaction only appears in the Land Registry when the development/unit is "completed". Property listings of "distressed sellers" wishing to resell (re-assign) their contract before the completion of the apartment can provide an insight into the original purchase price from the developer. This data can be used to predict pricing trends and weakening in uncompleted developments in London.

One word of caution, we have not verified the content in the listings nor verified the agencies making the claims. Consumers should speak directly with the agents to ensure the interpretation of the listing is correct.