Residential property in the north of England has become a political football in recent years. A collapse in demand for housing in some inner city areas in a number of northern cities led to Deputy Prime Minister John Prescott’s infamous claim that “in some areas the only option will be to demolish homes that are obsolete”.
Despite Prescott’s assertion, wholesale demolition is not the only solution to the housing woes of the north. Much of the housing stock can be renovated and put back to effective use at a fraction of the cost of a demolition-andrebuild programme, helping to protect and rebuild communities and provide a sustainable return to investors backing housing funds.
