Thursday, Oct 01, 2009
Luxury apartments to ease housing crisis
Manchester Evening News: Bid to fill empty homes
"TOWN hall chiefs will be asked to explore ways to fill thousands of empty homes as part of plans to overcome the housing crisis. An estimated 13,000 homes, including hundreds of purpose built flats, are lying empty in Manchester while more than 18,000 people have their names on waiting lists for housing in the city... Manchester's Lib Dems will next week ask the council to pass a motion to 'use all the powers and resources at its disposal to make serious inroads into tackling the housing crisis faced by this city'." I could see this coming a mile off! Imagine what this would do to the already deflated value of city centre property! Should be able to pick up a 2-bed with a balcony for £20k by 2011... if you like the neighbours that is!
Posted by happyrenting @ 11:06 AM (878 views) Add Comment
14 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. bystander said...
I thought housing associations had strict guidelines on living space and that these luxurious rabbit hutches didn't fit the bill?? Do you really think the discerning council tenant will be happy to live in a box, that previously would have cost a tax paying young professional nearly 200K+.....how very dare you!!!!!
2. mountain goat said...
I suspect most of those empty properties don't meet social housing standards.
3. little professor said...
Exactly - these substandard shoeboxes, with their paper-thin walls, and tiny room sizes, wouldn't meet the minimum standards required by law for public housing. Of course, for private renters, they are classed as "luxury executive apartments"
4. Claire said...
No No, surely this cannot be right.
All of the estate agents are constantly telling me that the main reason house prices will not drop is because there is a huge shortage of houses.
5. nomad said...
Let's not forget those already suckered in to paying £200+. Meet the new neighbours.
6. drewster said...
Given the choice between a slightly substandard house today, or a standards-compliant house in five years' time, a lot of people on the waiting lists will choose what's available now. The only reason they haven't already moved in is because the rents are too high and the landlords don't want to lower their rents.
7. Happyrenting said...
drewster @ 5 - well said! According to yesterday's link on mouseprice.com, the average salary in Manchester is £22,495. With some rabbit hutches up for rent at £795 / £900pcm there can't be many professional couples that care spare that kind of cash - one reason why so many are empty. Even the allure of rooftop jacuzzis and free gym membership must look less appealing when faced with higher council tax and expensive parking etc. A ticking timebomb m'thinks...
8. crunchy said...
Dear council flats cheap luxury apartments.
UK property politics at it's best.
9. jack c said...
There are several posts in the HPC archives where it was predicted that many of these so called "luxury executive apartments" would indeed become the slums of the future.
10. timmy t said...
All that pent up supply...
11. night said...
Why are they all "luxury" apartments? Where are the standard ones?
To coin a phrase: If everybody is super, then no-one is.
12. tenyearstogetmymoneyback said...
9. night said...Why are they all "luxury" apartments?
Because the sales posters always show everyone parking luxury cars outside.
From the prices charged they obviously assume that no Ford driver could ever afford
one. It will be amusing to see all the beat up old Escorts etc parked outside.
No offence made to anyone with a beat up old car. At least you have probably paid for it.
13. tyrellcorporation said...
Syndrome? Aka incrediboy.
14. This comment has been removed as it was found to be in breach of our Blog Policies.