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Builder cuts price of a home by 40pc


Published on Wednesday 27 August 2008 21:11

A local builder says that he has moved to kick-start the property market by cutting prices on his new homes by almost 40 per cent.

Fraser Houses has slashed prices on its semi- detached properties, which once sold at 229,500 to 139,950 – a drop of 90,000 which is 39 per cent.

Their detached homes, in the development in Glengormley, have also dropped 110,000 from 340,000 to 229,950.

Fraser Houses are admitting they are finding the market tough – and this, they claim, is why Aylesbury Place has gone back on the market with offers buyers "can't refuse".

They have also offered: to pay the stamp duty; a "price guarantee" – if the same house type is later sold by Fraser Houses for less, then they will pay back the difference and bespoke mortgage packages and support on site.

The move is a reflection of how far the property market has dropped in 18 months.

Paul Fraser of Fraser Houses said: "Buyers are reluctant to enter into the market because of all the negative comment out there. The facts are, now is a good time to buy – if the right package is available."

The offer applies to buyers purchasing a new home within the latest release of Aylesbury Place – a development of mixed housing ranging from two- bedroom apartments to three and four-bedroom detached and semi-detached homes.


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