What will happen to city centre apartments?

Ike1

Few questions about the doom and gloom predicted for city centre flats-

1. I may be wrong but wouldn't 'housing association tenants' be more suited to houses (with 3+ bedrooms) rather than 2 bed flats to house their families?

2. I would guess that most of these type of tenants would prefer to stay in their own neighbourhoods/communities and so would not want to move to Manchester city centre?

3. Us young professionals that have been seduced by the city living buzz would still need somewhere to live... I can't quite see me and my friends being scared off to the suburbs that easily and we can't rent forever (I really don't fancy paying rent when I'm a pensioner!)

Saying all that - I agree that some of the less desirable apartments in the less desirable areas may be 'overrun' by social housing tenants.

Ike

mdean

Ike1 wrote: »

Few questions about the doom and gloom predicted for city centre flats-

1. I may be wrong but wouldn't 'housing association tenants' be more suited to houses (with 3+ bedrooms) rather than 2 bed flats to house their families?

2. I would guess that most of these type of tenants would prefer to stay in their own neighbourhoods/communities and so would not want to move to Manchester city centre?

3. Us young professionals that have been seduced by the city living buzz would still need somewhere to live... I can't quite see me and my friends being scared off to the suburbs that easily and we can't rent forever (I really don't fancy paying rent when I'm a pensioner!)

Saying all that - I agree that some of the less desirable apartments in the less desirable areas may be 'overrun' by social housing tenants.

Ike

Good post mate - as someone involved with a HA I would only really be interested in blocks of flats for specialist markets such as students - and I think social housing providers would need to remodel to 2 or 3 bed and meet govt decency standards.
Must say I am pretty put off by the snooty approach of some posters to 'nasty social housing renters' -You never know - you may become a lone parent, or grow old or have a disabled child and need social housing. Hate the attitude - the current market means more people IN WORK will be in social housing if they can get it. One of the probs with the flats was that developers took the easy option and did not create mixed communities.
My understanding is that genuine city centre properties are attracting good rents and occupancy levels - people need to live somewhere, and being near work is a great with current petrol prices. I live near my city centre (in an ex Council house) and its great cost me the price of a flat 2 years ago - and I would struggle to sell now - but so what I am living in it - can pay mortgage etc.
I do think fringe locations for flats will suffer - and prices will come in line with the rest of the market - the Owner occupiers and BTL investors will come back

m00m00

I wouldn't be too concerned about HA in city centre flats

I'd be more worried about the desperate BTL'er who aren't too fussy with tenants

something that 2 of my friends have suffered with, suddenly acquiring neighbours from hell over night, and not having any point of contact to deal with issues. With HA property, complaints could be made to the HA for example

jamescredmond

just as an aside:

2 60's-built apt. blocks in my town were refurb'd recently and are administered by a jack-booted HA that puts up with zero nonsense.

just one substantiated complaint of neighbour-from-hell behaviour and the offending tenant is given 48hrs to leave. no appeal. no way back.

e.g. one numpty thought a good way to dispose of a mattress would be to hoik it out of a window (9th floor).

he was gone in LESS than 2 days.

the reputation this HA has for stalinist discipline has caused the blocks to be considered des res with a waiting list.

shame,is it not, that some people have to be told how to behave?

bella123

Kez100 wrote: »

...and keep a watchful eye on who you are sharing the block with. That will ultimately determine enjoyment living there, future rises in value and the ability to resell.

Yep,my brother in law bought an apartment and then 2 months later the one next door became a brothel.:eek:

brit1234

bella123 wrote: »

Yep,my brother in law bought an apartment and then 2 months later the one next door became a brothel.:eek:

I hope other sellers in the block highlight these additional on site services that it provides.:rotfl:

poppy10_2

jamescredmond wrote: »

the offending tenant is given 48hrs to leave. no appeal. no way back.

e.g. one numpty thought a good way to dispose of a mattress would be to hoik it out of a window (9th floor).

he was gone in LESS than 2 days.

Not legal .

abaxas

poppy10 wrote: »

Not legal .

Yes and no.

It would depend if the people were on an AST or some kind of bed/breakfast rolling type thing.

Emergency housing does not involve and AST.

neverdespairgirl

bella123 wrote: »

Yep,my brother in law bought an apartment and then 2 months later the one next door became a brothel.:eek:

OH said that about the Panorama programme set in Thamesmead - they should charge extra for all the brothels / drug dens / gun runners on the doorstep, local services, innit?

Ike1

Quick qu - will local councils/authorities have enough money to purchase all of the apartments that may be most affected by price drops?

Would apartments that are not bought be knocked down?

Ike