It was going to happen as there are so many similar new builds going up at the same time. I have some sympathy for anyone who had to or wanted to move to the centre and recently bought, as they'll probably be hardest hit, but not a lot of sympathy for people buying up properties in bulk, unseen for investment, creating a shortage, thus bumping up prices further, and creating a build boom, then trying to charge at times ridiculously high rents, leaving a lot of properties empty but still going up up in price for a while, then the inevitable slump.
I do wonder if there's going to be a bump/slump in a few years with people leaving for the 'burbs to start families. I also wonder about the effect the congestion charge might have on inner city living. I doubt we will see the centre become a wasteland again (remember when it was difficult to get a hotel room?), as there are many advantages to living and working there for some people, especially considering fuel costs!
It's a lost opportunity though, with planning allowed for almost every build and little consideration to any form of urban planning or build quality, although I understand there are plans for a new primary school. The green quarter in cheetham hill, which I still call plague pits quarter, looks like a future slum to me, as to a few other high-rise builds just outside the inner ring road.
btw Aiden, what is that concrete just off the Mancunian way? It's been like that for a least a year, with an expensive crane in the middle and no work on it, whilst other properties have gone up around it.
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