Big fall in prices of some flats
Significant price falls in a number of new build flats in Manchester, Birmingham and Leeds have been uncovered by a BBC series on property.
In one block of flats called Aspect 14, on the edge of Leeds city centre, one owner has lost as much as £85,000 on a flat in 18 months.
Others have seen the value of their flats fall from £189,000 to £131,000 in two-and-a-half years.
The majority of the last 10 sales in the block have seen significant losses.
'Fine investment'
At City Island, another Leeds development, flats have sold for up to £50,000 less than they were bought for.
One property investment company that promoted the City Island development in the past is called Inside Track.
"City Island was a fantastic scheme," the firm's chief operating officer Anthony McKay told the BBC TV show The Truth About Property.
"City Island itself has won a number of major awards.
"It rents well - the rental coverage is high with respect of the mortgage payment, so in the medium to long term it'll be an absolutely fine investment.
"Do I believe that some people have sold some of their investments?
"Yes, they have and I know that they have sold them at below some of the prices that we market them at."
Yet other apartments in the block have gained value and been resold at a profit.
In Birmingham, blocks of flats that have seen price falls include The Royal Arch Apartments on Wharfside Street and Centenary Plaza on Holliday Street.
There, one owner lost more than £50,000.
Other flats in the blocks have gained value, suggesting it depends very much on which flat you buy in a given block.
In Manchester, Blantyre Street flats have seen a reduction in some sale prices, by as much as £40,000, as has Deansgate Quay.
Source: bbc.co.uk
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