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new council housing nearby, house value drop?

I live in a block of flats which on the back side faces two office buildings. There is a huge parking lot in the middle, so not cramped in terms of space. Also we are not on the same street but its just that the backs face each other. The council has bought the two office buildings and they are to be converted into council housing.

Is the value of my property going to go down if that happens?
Is there anything I can do about it?
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Comments

  • Cheeky_Monkey
    Cheeky_Monkey Posts: 2,072 Forumite
    Probably but there's nothing you can do about it apart from move before that happens. Although it may well come up on the buyer's searches.
  • theartfullodger
    theartfullodger Posts: 14,455
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    Very pleased to hear of another council creating more affordable housing.

    It's what the country needs.
  • ReadingTim
    ReadingTim Posts: 3,970
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    To answer your questions:

    1 - no-one knows.
    2 - no.
  • Norman_Castle
    Norman_Castle Posts: 11,871
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    edited 6 March 2018 at 10:56AM
    Is the value of my property going to go down if that happens?
    Offices into housing, unlikely to make a difference. It might go up.
    Is there anything I can do about it?
    Stop believing the Dail Mail. Stop watching shocumentaries designed to feed viewers prejudices about people in social housing.
  • bertiewhite
    bertiewhite Posts: 1,904
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    I love NIMBY's, but I wouldn't want one living next door to me.
  • theartfullodger
    theartfullodger Posts: 14,455
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    I love NIMBY's, but I wouldn't want one living next door to me.
    Brilliant!!!!
  • Is the value of my property going to go down if that happens? - Possibly, could go up also.
    Is there anything I can do about it? - Not much beyond either moving, or a violent shift in your attitude (i suggest the latter given your comments regarding council housing)
  • Crashy_Time
    Crashy_Time Posts: 13,386
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    I live in a block of flats which on the back side faces two office buildings. There is a huge parking lot in the middle, so not cramped in terms of space. Also we are not on the same street but its just that the backs face each other. The council has bought the two office buildings and they are to be converted into council housing.

    Is the value of my property going to go down if that happens?
    Is there anything I can do about it?


    Yes.
    No.


    The good news is that the value of all property is going to go down when rates rise and Trump`s tariffs bite, so you won`t be alone.
  • Davesnave
    Davesnave Posts: 34,741
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    I love NIMBY's, but I wouldn't want one living next door to me.
    You get a thanks for a great quote, but in truth, just about all of us are NIMBYS; it's just different things we don't want next door.

    For example, a friend's family own a wind turbine which helps them keep their farm in profit. I fully support that, and I can understand it's needed, but I wouldn't want it across the lane.
  • phill99
    phill99 Posts: 9,094
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    Oh sweet mother of God.
    Eat vegetables and fear no creditors, rather than eat duck and hide.
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