The boom of the inner city flat has taken off over the last ten years but sales are drying up, in my last blog i looked at  a conmpany, in  this blog i intend to look at the overview of the situation and try to bring some conclusions from the latest crisis that faces the property market, thousands of brand new inner city flats, yet no one lives in them.

Firstly there is the cost point, flats in Manchester are reported to have been over valued to the tune of 450 million pounds.  yes 450 million, and that’s according to a report by the Manchester evening news.  Flats in The exclusive Hilton or Beetham tower in Manchester city centre are being advertised at cut rate prices, somthing no one saw coming.  – Is the tower going to be a symbol of manchester for the wrong reasons you have to ask?

Then there is the question of facilities for specific groups of people who may want to move to the centre of a city Families with children are quickly reaslising the lack of play areas and school uin the city centre makes it nigh on impossible to move there. Then you have the young proffesionals, the ones hardest hit when it comes to buying a new property. But then why would an elderly couple want to live in a loud modern city? none of the groups fit the bill anymore

andtherfore the numbers of inner city flats that remain empty is increasing. The market will recover, but at the moment its like asking how long is a peice of string?