Thursday, June 12, 2008

Affordable shoeboxes that are actually, well … affordable

Budget property: What's new for under £100k

When apartments at the Beehive, a new £65 million apartment scheme in central Bradford, went on sale this week, they became the cheapest newbuild properties in Yorkshire since 2001. Prices of the 517 flats start at £55,000, which - according to Knight Frank's Yorkshire statistics - has not been seen on a new full-ownership apartment in the region for seven years, since the fad for city living in regenerating northern cities began.

Posted by uncle chris @ 03:15 PM (956 views)
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8 thoughts on “Affordable shoeboxes that are actually, well … affordable

  • montesquieu says:

    It’s still a stupid amount of money for a studio in Bradford.

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  • Bradford? Not sure I’d live there if you paid me 55,000.

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  • It’s a very dangerous place. No way.

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  • japanese uncle says:

    21sqm room for 500/mo. Stay dreaming, idiot.

    In two years, they will be priced at 15,000. NO doubt.

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  • Agree with all in posts 1,2 & 3 – slums of the future in the making

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  • JU, the £55k apartments are just 300 square feet! That’s 15 by 20 feet, or maybe 4×7 meters. No mention of the annual service charges either. In general taller buildings have higher service charges.

    £55k for an apartment isn’t too bad though. That’s 3.5x a £16k income. Average income in Bradford District is £29.3k (that’s household income, not individual) against £32.3k for the UK on average – so it’s not doing too badly. Unemployment figures are slightly above national average, but again nothing horrific. Those figures cover the whole district including posh places like Ilkley. Bradford City itself is pretty rough – the deprivation indices are high. It doesn’t sound like a desirable place to live, no wonder these flats are so cheap.

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  • Yes Drewster. Bradford is pretty rough. When I was there, the graffiti signs saying “no whites” got my attention.

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  • Cheekie Charlie says:

    inbreda said…
    Bradford? Not sure I’d live there if you paid me 55,000.
    How dare you! I’ve lived in Bradford all my life, I’m offended.
    Erm on second thoughts I 100% agree.

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