Apartments could be the crack in the housing market recovery

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Evacuations, cracking, flammable cladding — the apartment market has been plagued by damaging, high-profile problems this year. So could it be the thorn in the side of the emerging property market pick-up?

on others around the nation — have forced the evacuation of residents and triggered awareness about loopholes letting down owners and renters.

Industry figures are warning of another problem attached to the publicity — owners aware of structural defects in their buildings are less likely to seek publicity to force the issues to be fixed, because it will cause a collapse in the value of their investment.House price slide turning around However, he added a note of caution — the figures are only one month's worth and people should not get"carried away" by the turnaround.

"We're going to see, I think, a significant loss of demand in the high-rise sector specifically," said Digital Finance Analytics' Martin North. "Overall, the clearance rates for apartments have been rising since November last year and, while there may be individual circumstances, the majority of buyers factor this in as one of the considerations that they have when making one of the biggest purchases of their life," she said.For example, in 17 years as a building surveyor, Kamran Zand Basiri approved almost 6,000 houses and flats — with a peak of up to 800 a year according to court documents.

 

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