City Centre Apartments

[lobster]

just had the latest research/ forcast from a major financial institution land on my desk . all i can say if youv'e got a city centre apartment ; is be afraid , be very afraid

[samstar999]

There was a big article in the Observer or Guardian (someone posted the link above I think) where people were having to sell their new buid, city centre flats for up to 40% less than they paid. Anyone can see, with every little available piece of land being snapped up and built upon with unimaginative, todays equivalent of 'little boxes' that soon , if not already - supply will outstrip demand.

 

And yes, 20 somethings want to live in town with all their peers, but they do grow up and have families. In most cases city centre living does not suit young/growing families for all sorts of reasons. Space and schools being just two of them. It's true what someone above said that a lot of young women are choosing careers over families and don;t necessarily get married/have children - but I bet as they get to thirty/forty whatever - they will (as phylis herself does) want a nice bit of gardent with some peace and quiet (and room for her cat - JOKE!!!).

 

I think it's obvious that city centre apartments have had their day.

 

Another thing is that a lot of people complain about the look of such places as Park Hill Flats - but who says the death star, or any other city centre high rises will look any better in 20 years time. We're storing up future eyesores.

[josh_sheff]

I'm not sure if i'd want to live in the City Centre even if the prices were the same as the Suburbs. I thought my service charge was a lot at £675 per year for a 2 bed apartment but the £1000 and £1700 that people mention in this thread seems extortionate. The parking spaces are expensive too, you usually get off street parking included outside of the City Centre. There seems to be a better age range in the apartments i live in and a few couples with children live here too. It takes me less than 10 minutes to get in to the City Centre so i can't see much of an advantage to living any closer.

[Stebbil]

 

And yes, 20 somethings want to live in town with all their peers, but they do grow up and have families.

 

 

So you are suggesting that once people grow up and move on that there will not be anyone a few years younger than them to then move in and take their place?

[Paulmat]

I think there's a lot wrong with some of the apartments going up in the centre (mainly the small size and over supply of 1-bed flats), but I'm gonna make a few point with your post samstar.

 

There was a big article in the Observer or Guardian (someone posted the link above I think) where people were having to sell their new buid, city centre flats for up to 40% less than they paid. Anyone can see, with every little available piece of land being snapped up and built upon with unimaginative, todays equivalent of 'little boxes' that soon , if not already - supply will outstrip demand.

 

The cases where these flats have sold for up to 40% less have been isolated cases in cities like Leeds and Manchester where they really do have an oversupply.

 

Sheffield has nothing like the number of flats that those two cities do. Also with Sheffield, as it's improving hugely I can't see and big drops in prices unless developers really go mad with the number of flats they build.

 

And yes, 20 somethings want to live in town with all their peers, but they do grow up and have families. In most cases city centre living does not suit young/growing families for all sorts of reasons. Space and schools being just two of them.

 

Indeed. I really think they need to stop building studio flats and 1-bed flats. There should be a limit of 2 bed upwards. It's good to see that some of the developments coming through are building larger flats (Sevenstone and the West Bar development have a good mix of 1, 2 and 3 bedroomed flats) but there is nothing like enough.

 

I think it's obvious that city centre apartments have had their day.

 

This is rubbish. Even if prices drop, in the long run it'll engourage more young people who can't afford a house to buy them and get on the property ladder.

[Phylis]

There was a big article in the Observer or Guardian (someone posted the link above I think) where people were having to sell their new buid, city centre flats for up to 40% less than they paid. Anyone can see, with every little available piece of land being snapped up and built upon with unimaginative, todays equivalent of 'little boxes' that soon , if not already - supply will outstrip demand.

 

And yes, 20 somethings want to live in town with all their peers, but they do grow up and have families. In most cases city centre living does not suit young/growing families for all sorts of reasons. Space and schools being just two of them. It's true what someone above said that a lot of young women are choosing careers over families and don;t necessarily get married/have children - but I bet as they get to thirty/forty whatever - they will (as phylis herself does) want a nice bit of gardent with some peace and quiet (and room for her cat - JOKE!!!).

 

I think it's obvious that city centre apartments have had their day.

 

Another thing is that a lot of people complain about the look of such places as Park Hill Flats - but who says the death star, or any other city centre high rises will look any better in 20 years time. We're storing up future eyesores.

 

You saying im getting old? Only joking oh and im alergic to cats!

[Sheff2006]

Thanks to everyone for their replies to my posting.

 

Had change of plan though and decided on a house after all!

[theripsaw]

Odd that so am i. I work with most of the major housing developers in the UK. Working with them they are all very upbeat about their year. They are all still bringing new sites to us and are selling houses and apartments to finance this. There are still people buying houses and flats whatever you decide is happening is your problem. I am working with the people on the recieving end of any problems.

 

 

They are also changing their plans re city living apartments- building them for occupiers rather than investors (ie - larger units), and opting for mixed use over pure resi because they acknowledge that the easy ride is over. I wouldnt say they are upbeat- they are having to put a bit of effort in now.

[Phylis]

They are also changing their plans re city living apartments- building them for occupiers rather than investors (ie - larger units), and opting for mixed use over pure resi because they acknowledge that the easy ride is over. I wouldnt say they are upbeat- they are having to put a bit of effort in now.

 

The majority of developers have brains and wont commit to a project if they dont believe there is a profit to be made. Housing developers are still starting new projects nationwide so they do believe in the market.

[neeeeeeeeeek]

The majority of developers have brains and wont commit to a project if they dont believe there is a profit to be made. Housing developers are still starting new projects nationwide so they do believe in the market.

 

Or they don't care what happens as long as they can make a quick buck before the bottom falls out of the flat market!