26
Feb
City living market 'to bottom out this year'
The city living market will soon bottom out, a property developer
has predicted.
Kevin Linfoot, the founder of development firm KW Linfoot, gave the
forecast to the Business Desk, despite his firm announcing this
week that it has had to go into administration.
The company said this had come about due to a lack of bank lending
since the credit crunch began but Mr Lightfoot forecasted that the
market will bounce back in time and that he would be investing
again.
Speaking of the city living market, Mr Linfoot told the news
provider: "I think it will bottom out in the next six
months."
The firm has been involved in many apartment developments in
central Leeds and he tipped this to be a major growth area in the
years ahead, commenting: "There will be a shortage of city centre
living in Leeds in the future. There are 6,000 apartments and
Manchester has 33,000."
In its statement this week, KW Linfoot said that it had confidence
in Leeds and the prospects for both the city and the country to
bounce back from the recession.
