Proliferation of apartments around the city centre

[celeste]

There seem to be more and more apartments being built around the city centre, are they affordable, as the
people whom I would expect to live in them, such as students can't afford them, or can they, are their parents buying properties for them to use whilst they are at university and perhaps selling them at a profit four years later?

Any opinions on this?

[RAB]

'Buy-to-let' - not just by private individuals, is ever popular and possibly tax-efficient and is thought to support the market even when first-time buyers are very thin on the ground

House Building is often speculative and aimed at high prices and profit margins, as seen these days, but also  sometimes encouraged as part of inner-city regeneration, occaisionally subsidised by the gov't of the day to provide low cost housing for the key workers priced out in market peaks seen recently 

[celeste]

I read recently that the Buy-to-let market was in decline, so perhaps they aren't selling as quickly as previously thought, however with all the wealthy footballers in Manchester, who are possibly thinking of investing when their player days are over, they could be some of the buyers.

[RAB]

what type of apartments are we talking about here ?
Prices please for one. two, three beds

I doubt Footballers wives want anything cheap or in the league of students or workers !!

[celeste]

Apartments over £200,000 or £700/£800 a month.

If footballers buy them, they won't live in them just keep them until they've made a large profit, if they don't put furniture in them there isn't any council tax to pay.

[celeste]

Chris - could you move this to Ma nchester Chat please

[RAB]

Apartments over £200,000 or £700/£800 a month.

If footballers buy them, they won't live in them just keep them until they've made a large profit, if they don't put furniture in them there isn't any council tax to pay.

Footballers are required by contract to employ financial advisors to manage their earnings, partly because of their, historically notorious, lack of financial acumen
No doubt property is part of the portfolio of recommendations

Shame that people starting out these days have to spend most of their wages on property rents/mortgages 

[celeste]

some twenty year olds don't even get to leave their parents' house, on our crescent there are drives with three cars because the children can't afford to buy their own house