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New-build apartment prices in decline, says BBC show
26/10/2007
A number of big cities in England, including Manchester, have seen "significant" new-build apartment price declines in the last two to three years, according to one expert.
Anouk Curry, the producer of BBC2 show The Truth About Property, said that Blantyre Street and Deansgate Quay apartments in Manchester have seen sale prices fall by as much as £40,000 in recent months.
It is thought that property investors are snapping up new-build apartments at high prices and then selling them at a loss.
However, the Land Registry said that apartment prices have risen by10.5 per cent across England and Wales as whole.
It also said that residential Manchester property prices - including terraces, semi and detached homes - have risen by 10.9 per cent in the past year and is the best-performing metropolitan district in England and Wales.
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