Commentary
VIDEO | What will the housing market of the future look like?
The continued ‘hotel-ification’ of the residential sector, ground-breaking technological advancements, and new ideas around design are all shaping what the next generation of homes will look like, according to speakers at a roundtable discussion hosted by ClearFibre.
Participants
- Victoria Russell, Property Alliance Group
- Ian Scott, Martin Property Group
- Jeremy Hinds, Savills
- Jonathan England, Northstone
- Jonny Whiteley, Casa by Moda
- Catalina Ionita, Chapman Taylor
- Rez Duncan, ClearFibre
- John Leutton, Intelligent Building Group
Key talking points
Participants warned that housing delivery in 2023 would be impacted by ongoing market volatility, which is likely to give developers pause when it comes to making a start on new residential schemes.
This will worsen the current supply and demand imbalance, driving rents and house prices up in the short to medium term, according to the panel.
The rising cost of living means that the number of people buying homes will continue to decrease as the younger demographic, unable to afford deposits, is forced to rent.
This, in turn, will lead to an increase and improvement of rental stock, including more BTR in the suburbs, and an added emphasis on customer service, aimed at attracting and keeping tenants, the panellists said.
Sustainability was highlighted as another key driver shaping the homes of the future. Changes in how homes are designed, the introduction of new technology, and a better grasp of data will lead to increased energy efficiency.
However, participants pointed out that building new green homes was only part of the battle and that more needs to be done to retrofit properties that already exist.
The discussion was hosted by Place North West senior reporter Dan Whelan, and held at Property Alliance Group’s Oxygen development in Manchester.
Highlights from the roundtable can be seen in the video at the top of this article, as well as on the Place North West YouTube channel.
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Analysis
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A more stable economy and increased local powers and funding will improve the property landscape, however shifting the dial on development and investment will be a slow process as the region fights to overcome hurdles.
Many terraced properties in the great Northern cities suffer from having alleyways at the rear, these can make these properties unattractive because these alleys become waste tips, attract vermin, and cause crime, they also mean councils have to clear away the fly-tipping which is costly. Thought should be given to doing away with these alleys and re-working the rear of these properties to make them easier to maintain and allow for building up over the outrigger, thus making them more in demand.
London terraces are so popular because they almost never had these alleys and suffer all these negative effects.
By Anonymous
Excellent suggestion from Anonymous. You can even add some garden amenity.
By SW