New-build flats have 'high vacancy rates' |
11 2007 |
| The supply of new properties to rent is soaring in comparison to the number of old and renovated properties, experts have revealed. According to the Empty Homes Agency, new flats in 'up and coming areas' can often have high vacancy rates, giving professionals the chance to rent a property close to city centres, particularly in the north of England. "What we're finding is that some of the new flats, and it is mainly flats, that are being built have got very, very high vacancy rates," said the Agency's chief executive, David Ireland. "If you look at some of the new developments in Leeds, for instance, the vacancy rates there are about 35-40 per cent. Also around Salford Quays it is a similar rate." The comments come just days after plans for two skyscrapers featuring hundreds of luxury rental flats were given the go-ahead by the local authorities. "It will be a scheme that is impressive in both scale and quality," said Bashar Issa, the head of BSC Group, the project's developers.  |
Related Articles |
| Mayfair home falls down in credit crunch |
| A £20 million London property has become the latest victim in the... |
| House prices have 'no reason' to stabilise soon |
| The idea held by many that Britain's house prices will steady as a result... |
| Which? publishes help for 'accidental landlords' |
| Consumer organisation Which? has created a book to aid landlords in the... |
| Private landlords 'should be encouraged' |
| The private rental sector should be supported and expanded, and buy-to-let... |
| Annual price drop reaches 8.1% |
| A relatively modest annual price drop has been recorded by Hometrack this... |
Copyright © 1995-2008 loot.com. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. Use of this Web site constitutes acceptance of the loot