[24
OCT 00] CWN COMMENT
Property Ladder Is Going Up The Chimney
It’s
always nice for homeowners to know that their house is worth oodles
more than the price they paid for it, but another group of people
loses out each time the cost of property rises.
These
are, of course, the people not yet on the property ladder.
The
past 12 months has seen the cost of home ownership in some parts of
Coventry soar by as much as 50 per cent.
It’s
putting areas like Earlsdon beyond the reach of first time buyers,
with terraced houses going on the market for more than £100,000.
This is the sort of daft over-inflated price that you’d expect to
find in south Warwickshire
With
rents following the steep climb, this will have the effect of
changing the make-up of the city. Less well-off people will be
forced out of certain areas, reducing their diversity.
Nice
news for the Nimbys, perhaps, but in the long-term it can only have
the effect of increasing the city’s north – south divide.
And
in a city just beginning to turn the corner in tackling its problem
areas, that should be avoided.
So
while the homeowner – rich on paper at least – toasts his or her
luck, let’s hope the situation doesn’t get out of hand at a time
when the city’s public housing stock has just passed into the
private sector.
SEE:
[24 OCT 00] SANTA
COULD COME EARLY FOR HOMEOWNERS
|
