Saturday, Jan 20, 2007
BTL's in it for capital appreciation? Average price of a new flat down 0.9%
FT: Average price of a new flat down 0.9%
The price of the average new flat in the UK has fallen 0.9 per cent in the past three years, even as the rest of the housing market has risen 31 per cent. The news will make alarming reading for the tens of thousands of investors who have bought new apartments in recent years in the hope of rapid capital growth. Whoops!
Posted by crashbunny @ 10:35 AM (162 views) Add Comment
4 Comments
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1. dohousescrashinthewoods said...
That would seem to tally with what people have noted a few times here, namely lots of "To Let" signs on half-empty buildings.
Does this suggest that, if you take flats out of the stats, the average price of a house has risen by even more?
2. enuii said...
I have said it before and I'll say it again, flats, apartments, duplex's or whatever you want to call them are a bad investment unless they are in a city centre or near a 'uni'. Buying one of these properties elsewhere is a bad move especially in normal towns where many have been built by greedy developers and bought by either a) desperate FTB's or b) Speculators. When prices stagnate or start to fall these properties in particular will be the hardest to sell, especially if they have high service/maintenance charges associated with them.
3. Nohpc said...
I think this only applies to areas that have been over developed. In Glasgow and London New Builds have risen with the rest of the market. Again it is all about buying in the right area. The areas where new builds have not increased I'm sure the old builds will not have either.
4. Davros said...
Nohpc,
Fiddling while Rome burns?