Research into apartments Summary of key issues. Key issues Investors from abroad are buying without knowing the area Estate agents felt too many apartments.

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Presentation transcript:

Research into apartments Summary of key issues

Key issues Investors from abroad are buying without knowing the area Estate agents felt too many apartments on market. Problems selling, apartments sold at inflated prices. Seen one or two re- possessions Infrastructure for apartments is important

Key issues Developers feel 2 bed apartments most popular Finding it difficult to sell 3 bed Split with investors is 80% and 60% investors as opposed to owner occupiers Dandara trying to attract more owner occupiers Apartment market transient

Key issues Dandara and Wimpey felt the market had slowed over past 2/3 yrs but will pick up

Concerns Apartment market weighted towards investors How do we manage this as a council? Transient markets How does this fit with other policies such as sustainable communities and neighbourhoods Concern about vacancy rates

Concerns Estate agents have concerns about the number of apartments and are experiencing problems selling Developers make more profit from apartments

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