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At an auction organised by Allsop last Monday, a flat in an upmarket area of Leeds that was bought for £400,000 in July 2007 sold for just £159,000. A reduction of 60pc.
"City centre flats haven't fallen 17pc – it's much worse than that."
I don't agree. These properties were never worth what they were sold for.
The developers just managed to find (several thousand) numskull southern BTL'ers who were preared to pay over the odds because, by London standards, they "looked cheap".
Don't forget that there was a over-pricing fraud going on with some developments, particularly popular in Docklands.
The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”
The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”
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