Thursday, October 1, 2009

Luxury apartments to ease housing crisis

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 (1222 views)
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13 thoughts on “Luxury apartments to ease housing crisis

  • 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!!!!!

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  • mountain goat says:

    I suspect most of those empty properties don’t meet social housing standards.

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  • little professor says:

    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”

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  • 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.

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  • Let’s not forget those already suckered in to paying £200+. Meet the new neighbours.

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  • 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.

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  • Happyrenting says:

    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…

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  • Dear council flats cheap luxury apartments.

    UK property politics at it’s best.

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  • 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.

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  • All that pent up supply…

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  • Why are they all “luxury” apartments? Where are the standard ones?

    To coin a phrase: If everybody is super, then no-one is.

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  • tenyearstogetmymoneyback says:

    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.

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  • tyrellcorporation says:

    Syndrome? Aka incrediboy.

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