Chamberlain Property Co
 

Where are we going in 2024?

Article by Greg Walters
02 January 2024

In general, the property market appears to be slow and certainly if you read the newspapers. In practise though I believe this really to be home movers in the higher price bracket of say £1,500,000 plus unless you're looking at the central London market. Prices have dropped but not as drastically as some news outlets make out.

Greg Fireplace

The cost of borrowing money over the last 12 months has increased following the preceding 12 months which I believe has been the main cause of a general slow but mortgage interest rates appear to be falling back in line with that of pre October 2022 (Liz Truss and Kwasi Kwarteng's infamous efforts)

In terms of creating new homes for sale, I see small developments of between 2 and 5 properties built to a high standard as an area that will still thrive, and Old Bank House has proved that. The target market that this project appealed to was wide. First time buyers, 2nd home buyers, downsizers and investors. All 4 markets catered for.


The rise of Airbnb has given property owners the ability to rent out their homes on a nightly basis and Bishops Castle has a pull for UK tourists and at least 1 of the 4 new owners at Old Bank House has suggested they plan to utilise it for Airbnb, mind you without giving concern to the neighbouring properties. Ironically if the market didn't take to our project this was a "plan B" for us to hold and retain the building and operate it in this fashion. I specifically wrote the lease documents to allow short term lets whereas most leases for apartments do not allow this and require lettings to be on a long term Assured Shorthold Tenancy (AST). 

Co-living will also continue to be a market that I believe we will capitalise on. This basically are small en-suite rooms likened to hotel rooms with communal lounges and kitchen facilities. In the main because in general this type of accommodation is not to the best of standards. By raising the standards this offers young professionals an all-inclusive rent and a community feel in a large building. My experience in practise if that by providing a high standard of accommodation tenants respect and take care of it as if it were their own. It is the perfect place for young people to live whilst saving a deposit to purchase their first home.

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17 February 2024

Grade II listed period buildings stand as architectural marvels, showcasing the rich history and cultural heritage of a region. These structures, often revered for their historical significance, architectural splendor, and unique character, play a vital role in preserving the identity and legacy of a community. 

02 January 2024

In general, the property market appears to be slow and certainly if you read the newspapers. In practise though I believe this really to be home movers in the higher price bracket of say £1,500,000 plus unless you're looking at the central London market. Prices have dropped but not as drastically as some news outlets make out.

05 December 2023

Here at Chamberlain we are very keen to pay homage to the history of the buildings we acquire and this involves researching the history and heritage of the building in as much detail as we can often referring to title deeds and historic records.