Saturday, Dec 08, 2007
City of culture downturn!
Liverpool Daily post: Sales down at city’s John Lewis store
Liverpool won the city of culture recently well it looks like its going to be a dissaster for property prices. In an earlrer article a flat went for auction at little over £100,000 having been bought 3 years ago for over £200,000. Now thats well over 50% drop more like 60% if you factor in expenses and inflation in the last 3 years.
Up market John Lewis shop in Liverpool has seen a 5% decline in shop sales recently all which does not bode well for property prices in Liverpool.
Posted by doomberger @ 10:29 PM (152 views) Add Comment
1 Comment
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1. Van Hoogstraten said...
The short term hysteria surrounding the European City of Culture event for Liverpool is a joke. Its going gangbusters with European money funding a lot of redevelopment around the centre. Once thats been & gone however, Liverpool will revert back to what it has been since it was finished off by the unions in the 1970s, a city with an economy based on servicing the wants of students & welfare recipients, ie the supply of alcohol and cheap drugs. Sure enough some of the suppliers of these will probably appreciate a nice city centre pad but its hardly enough to sustain things the way they are at the moment.