26 Feb

City living market 'to bottom out this year'

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.
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