Look at this pitiful mess. People signed up for the shared ownership option on a block of flats in Streatham and paid deposits. Then the developer couldn’t get it built, so they were left waiting. Now, it’s finished, but the developer now wants twice as much money because, supposedly, the block doubled in value during the construction delay. The killer detail; the developer, Wandle, is a “social housing provider”.
Presumably, had they delayed another six months, they could have demanded four times as much money. Rising prices are actually functioning as an incentive to reduce supply. And you’ve got to love the quote from the Wandle spokesmonster:
“During the period following reservation and holding deposits being received, there were significant changes in the London property market which are beyond our control. Unfortunately this external market movement has resulted in substantial increases to the values of these homes in a relatively short period of time.”
There was nothing they could do about it. They might as well have been hit by an asteroid. The money just fell on them.
And the building. Is it, by any chance, ugly? You bet it’s fucking ugly. It’s been savagely beaten with the ugly stick, like an ugly black dog on an ugly chain. It’s a godawful blairhat mess sticking out of a groundscraper Tesco Extra with the motto EVERY LITTLE HELPS scrawled across the front, which in context sounds like Vladimir Putin’s sense of humour.