City flats
A friend was telling me last night that 30% of flats in the centre of Sheffield are empty. City flats have been the object of much speculation from the Irish who've been borrowing in Euros and buying in the UK, and from investment clubs. He reckons that prices will have to halve before they can find tenants.
posted by Whispering Walls at 7:10 am
8 Comments:
This might sound surprising, but I've heard that this is a widespread phenomenon. Many new flats were purchased simply for the capital increase, and the owners had no intention of renting them out in the short term, to avoid them becoming 'shop-soiled'.
Sounds bizarre, but when the prices were zooming up at a couple of thou a month, it made some kind of sense.
Now however...
p.s. can you limit posts about filthy lucre to a quota of 50% - your other posts are far more riveting ?
Compare and contrast with docklands in the late '80s and early '90s. This is the fourth cycle of property I have been through, and it is ALWAYS the same. The difference this time is the upswing has been longer and stronger. As a matter of interest, taking inflation into account, there was NO increase in property prices between 1969 and 1995. But since then, nominal prices have roughly trebled, whilst inflation has only been approx. 40%. To get back to trend,your friend is exactly right.
Point taken - apologies for being dull - comes from being surrounded by screens
That's fine - the odd story about the world of business is fine, but the stories about religion, sex and politics give this blog its spice..
Since you didn't come up with a weather related joke, here's one I made earlier..
Q/ What is the difference between weather and climate ?
Whether to climb it?
Is the weather vain?
Whither the weather?
Whether the weather will wither on the vane?
are my poor off the cuff remarks
I'm sure yours is far more droll
I think you're nearly there - you can't weather a tree, but you can climate..
I often wonder who wants to go and live in these city flats in which there isn't room to swing a cat. I looked at a few in Cardiff, out of nosiness, and they are for people with no possessions, it seems to me!
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