The property crisis continues, with Manchester one of the cities that stands to be most severely affected (along with Liverpool, Leeds and Sheffield), in part due to over-supply. And it seems to me that many of the ‘luxury’ apartments in the city centre are anything but.
Walking around Ancoats recently I noticed how many of the buildings (many old cotton mills) are still empty. Some are semi-derelict, in other cases the shell has been tarted up a little, but not much done inside. It’s hard to know how many apartments in the converted and newly-built blocks are occupied. If it hasn’t … How will Manchester fare if there’s a recession?
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