Locals in Blackpool fear that London-based buy-to-let landlords, seeking high returns, could worsen the town's existing problems. The number of homes bought by London buyers has doubled in the past five years, attracted by Blackpool's 10.1% gross yield compared to London's 5.7%. However, residents worry about the impact of these investors on a town already facing challenges including the lowest life expectancy for men in the UK and widespread deprivation.
Locals in Blackpool fear London based buy-to-let landlords looking to double their money could 'finish off the town.'
However locals in the town famous for its tower, lights and funfair now fear that London based speculators will only add to their problems. A building with boarded-up commercial units and hoardings around the sides listed for sale in BlackpoolA picture of a roller coaster at Pleasure Beach. And a recent report by Blackpool council revealed that the local authority was the most deprived in England, blighted by multiple problems including the decline of the traditional tourism industry
According to data, 35.6 per cent of the town is obese, with men in the town scheduled to live until they just 73, six years less than the average in the rest of England. Daniel Pagett, 39, a plasterer by trade, spent Christmas day on the streets. He said:'I was in social housing and just could not afford the rent anymore and I ended up on the street. That is what happens when you can't keep up with the rent.'The last thing Blackpool needs is London money pushing prices further north. Things are bad enough here as it is.
'It's all fine for London based landlords to snap up cheaper homes in Blackpool, but they need to invest to create quality housing stock that is also affordable.William Mcilroy, 59, originally from Scotland, has lived in Blackpool since the early 1980s. He said: 'To me the town is just in a nose dive and has been for the last thirty years or so.'The council just seem to have been obsessed with hotels and carparks, but the crowds no longer come here.
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