Oldham Town Centre a less than desirable area to buy a home

Interesting to see, in light of Oldham Council’s spending plans for 800 quality homes in Oldham Town Centre, that official govt stats released today (17/02/2015) show that in 2013 house sales ranged from 109 in Oldham 013 which is part of Saddleworth North to just 26 in Oldham 014 which is the less than desirable area commonly known as St Mary’s & Oldham Town Centre. Oldham Councils appraisal of new housing for Oldham Town Centre at the proposed Prince’s Gate development, selectively left out of the official press release, is that it remains unviable at the current time because their economic assessment predicts very low sales prices. The cabinet report goes on to state “in the event that HRA (Housing Revenue Account) money was used to fund residential development at Eastern Gateway, the initial capital outlay would be recouped over time through net rental income although early analysis suggests that this may be a period in excess of 40 years and is dependent upon high levels of occupancy.” It has to be asked what did they expect when successive Council’s have surrounded the Town centre on all sides with poverty, deprivation & overpopulation? Regardless of the Council’s intentions any new housing will, because of proximity and low valuations, just serve as an overspill for the current residential areas surrounding the Town centre.

Housing delivery at Princes Gate Oldham

Housing delivery at Princes Gate Oldham