Published: 6th Jul 2011

Areas of the northwest could soon be characterised by communities living in poor quality and increasingly expensive rented homes. Philip Leather and Brendan Nevin explain why The housing market in the north west of England has so far failed to emerge from the crisis which during 2008 enveloped financial institutions and segments of the wider economy which were dependent upon consumer expenditure, financial services and property development. We have been monitoring trends relating to house prices, sales and lending within the region for over a decade and while recent data suggests the housing market has now entered a prolonged recession, there’s a danger in being too preoccupied with short-term trends. There would appear to be longer term structural changes emerging which will impact upon regional development, housing policy and neighbourhood management and have major social and economic implications as the decade proceeds. The asset bubble which characterised the UK housing … (To read the full article, subscribe below)