The slump is coming – Part 2
Following on from our story about the housing market slump, I’ve picked up on news that new build apartments are already starting to fall in value, some by as much as £85,000!
Big price slumps have happened in Leeds, Manchester and Birmingham over the last year and a half. The BBC programme The Truth About Property covers the story in more detail tonight, BBC2 at 8pm.
Aspect 14 is a city centre development in Leeds, one owner has lost the £85,000 as mentioned above. Other owners are seeing the value of their apartments fall around £58,000 in the last 2 and a half years.
City Island an apartment development in Leeds has seen flats sold for £50,000 less than they were purchased for.
In Birmingham The Royal Arch apartments, prices have fallen and one owner has reportedly lost £50,000.
The Blaintryre apartments in Manchester have seen a dip of £40,000 in prices along with the Deansgate Quay area. Is it simply a matter of time before we see house prices follow suit?
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