Earlier this month the Daily Telegraph reported LKP research finding that sales of modern flats have fallen 60 per cent in volume as a result of the cladding / building safety crisis.
This week the newspaper reports that resale values of flats are trailing behind that of other residential property, with flats in Leeds the worst hit with new builds since the year 2000 40 per cent behind local prices. The data was provided by market analyst BuildPlace.
Demonstrations by flat owners, articles in the Financial Times and mediation with the company via LKP have improved the lot of disempowered leaseholders at prime London sites …
By Harry Scoffin
Seven months after leaseholders at Ballymore’s prime London sites raised their dissatisfactions in the Financial Times there are no regrets – in spite of the risk of talking down their own properties’ values.
The article, by investigative writer Madison Marriage – who exposed sexually charged Presidents Club fundraisers, at which property punters were to the fore – was an astonishingly strong rebuke from leaseholders against their developer-cum-freeholder-cum-managing-agent.
