The 10 worst property investments ever

[BrilloPad]

http://timesbusiness.typepad.com/mon...8/06/post.html

The doomsters will like number 8 :-

8. New-build city-centre flats

Thousands of newly-built urban apartments have flooded the market in recent years, dominating northern city skylines, but now prices are plummeting by up to 70 per cent. New-build blocks attracted amateur buy-to-letters eager to earn a quick buck from the property boom. But now many fear they paid vastly over the odds. One report cites a three-bedroom apartment in Kelso Heights, a development near the University of Leeds campus in the centre of the town, which was recently sold for £71,000. It was bought in 2006 for £237,999. Flats in certain developments in areas such as Manchester, Newcastle and east London have also fallen in value by 40-50 per cent.

[BlasterBates]

I reckon the worst ones are the half-built appartments on the costa del Sol. At least you can let a flat in a city centre.

[Diver]

There's some half built houses in Port Talbot.

Why anyone would buy any sort of house in Port Talbot is beyond my comprehension.

I was talking to a Traveller (diddycoy) I know. He said they can't even shift the building materials that have been left on sites all round the country. Nobody's buying

[BlasterBates]

I've heard this all over. Looks like the UK is covered in half-built houses.

[TheBigYinJames]

I've heard this all over. Looks like the UK is covered in half-built houses.

Get convicts and dole scroungers to build them

[dang65]

I've heard this all over. Looks like the UK is covered in half-built houses.

Wonderful opportunities for squatters I imagine. Don't hear much about them these days. Do people still live in squats? Used to be all the rage.

[ace00]

I was talking to a Traveller (diddycoy) I know. He said they can't even shift the building materials that have been left on sites all round the country. Nobody's buying

No copper left lying around then I guess.

[Moscow Mule]

What are all these new build flats going to look like in 30 years, when they have all been taken over for social housing?

Exactly like Tower Hamlets today, a tuliphole, that's what.

[TheBigYinJames]

What are all these new build flats going to look like in 30 years, when they have all been taken over for social housing?

Especially since the recent architectural trend has been to use natural wood as a facing material - looks all nice and jolly in year 1, but by year 10 that'll look like an old hobo's shack.

[Moscow Mule]

Especially since the recent architectural trend has been to use natural wood as a facing material - looks all nice and jolly in year 1, but by year 10 that'll look like an old hobo's shack.

Yes, there's a nice riverside townhouse near us - all modern and wood faced. Downstairs still looks ok where they've been able to use preservative without getting the scaffolding out. The top two floors have gone grey and nasty...