Tuesday 30 December 2008 11.50am
Over the last few years councils have promoted the need for deveopers to add affordabale housing into all new developments. As these have to be sold or rented out at lower prices than the rest does this mean that in effect those new properties that are sold at market rates to ordinary buyers are priced too highly (sic) to cover the cost of subsidising the other properties on the site. Does this mean that, rather like buying a new car, and all things being equal, that you would end up with a property not really worth what you had paid for it the minute you completed the purchase on a new build falt or house. Is this a scam that rising house prices disguised over the last few years but now may hit home with avengance in a time of declining house prices? Any ideas people?