Category Archives: New Investment

My view on recent EU events – by leading estate agent Chris Hope

Whilst for months the question leading up to the EU referendum revolved around whether you were in or out, the query currently on everyone’s lips, no matter what their personal or professional standpoint, has to be – “what now?” Here Chris Hope, Partner at Dawsons Estate Agents, provides his view on the UK’s recent exit from the European Union and helps you figure out what’s next for you, your clients and the wider property market…

Business as usual

My view on our recent Brexit is simply business as usual, but for professionals everywhere, regardless of their niche or agency size, it is important to remain clear and positive when it comes to our immediate business future.

Following the momentous decision of the British people to leave the EU I have discussed the potential ‘fall out’ calmly and positively with many of my RAN business contacts across the UK to give both fellow industry insiders and our clients a local expert opinion to help maintain confidence and ensure that we have a clear message to offer to all of our audiences.

The market’s reaction

It would appear that the money markets had not anticipated the ‘out’ vote, however, the Governor of The Bank of England, Mark Carney, has addressed the press with a very calm and confident statement reassuring all that there are contingency plans in place to shore-up the banks and avoid any immediate turmoil.

Key points to takeaway in light of our recent exit from the EU include:

  • The Bank of England has huge reserves & plans to react positively to the vote
  • The stock market has not crashed and it has been lower this year!
  • Intent from ‘overseas money’ clients to buy property has been immediate
  • We still have a 500,000-person strong population growth and evidently they have to live somewhere
  • The majority of the Great British public are very positive about the result

All the points mentioned above offer some reassurance for what for many has been a shock result, but what’s next for our economy, our security, our relationships with the rest of the world and, more importantly, factors that affect us and our clients a little closer to home?

In short…

Well maybe not that short! There may well be a period of re-adjustment, but people will always need a home and will still need to get on with their lives. If prices do need to adjust, we need to remember that if you lose £10,000 on your own house, you will gain it on whatever you buy next. There continues to be strong demand to live in this area and that will never change because this is a nice place to live.

Are people really wanting to put their lives on hold? I doubt it very much. Clients need to be thinking about other factors rather than just the financial consequences of not moving, such as not getting into the right school area, living in a cramped environment etc., plus what goes down will come back up – it’s just a timing issue. Most purchasers don’t purchase with a short time period in mind.

Will property still remain an asset?

The fundamentals underpinning property as an asset are largely unaffected by the vote. In fact, the UK’s population will continue to rise even if EU immigration is curtailed. But the fact remains we are still not building anywhere near enough new homes to meet the rising demand. These supply-side failures continue to cushion property values from other negative influences.

Currently on offer is a 5-year fixed, interest only mortgage at 2.45%, and potentially rates might come down even further. These are once in a lifetime mortgage deals and considerably offset any price reduction.

What’s next for you and your clients?

If you or your clients are waiting for a market that allows them to buy cheaply, with prices then rising, with low interest rates and a huge selection to choose from then they’re dreamers. That market has never existed, and our job is to highlight the pros and cons of current market conditions and make sure that our clients make informed decisions.

Whatever does happen next, the market will find its equilibrium. People will still die, divorce and decide to move, and whether they choose to rent or buy, let or sell, we shall still be in a position to give them professional advice enabling them to make the right choice to suit their circumstances. A difficult marketplace will mean a successful marketplace for us, and those without the knowledge, confidence and experience are likely to fall by the wayside leaving only the strong agents to deal with the transactions.

The market is what it is and as always Dawsons will find a way to make the best of it. We are very good at that having successfully traded for 25 years!

Ricky and Russell Swansea Bid 2

Leading estate agent teams up with Swansea BID to unlock savings in the heart of the city

Photo Caption: L to R Russell Greenslade CEO BIDS and Ricky Purdy Director of Residential Lettings, Dawsons

To extend their ethos for delivering independent solutions, Dawsons has collaborated with the Swansea Business Improvement District (BID) team to promote the city’s loyalty card scheme.

The independently owned estate agent, who is celebrating 25 years of trading this year, will be working with Swansea BID to ensure individuals across South Wales have access to the latest and greatest money saving offers. The new city centre loyalty card, courtesy of the Big Heart of Swansea, delivers savings in shopping, health and beauty, food and drink, home, and leisure. Current offers include free hot pod yoga sessions and discounts on everything from beauty treatments to butchered meat and shoe repairs.

“We are delighted to have one of Swansea’s best known estate agents supporting the city centre and the loyalty card concept, which is an important sales promotion for all BID members and rewards the general public for shopping in the city centre,” said Russell Greenslade, CEO of Swansea BID.

Swansea BID is one of only five BIDs in Wales and aims to make the city centre a bustling hub where people can shop, visit, stay and socialise.

Ricky Purdy, Director of Residential Lettings, and Joanne Summerfield-Talbot, Director of Residential Sales, added, “We feel this is a great opportunity to engage with local businesses and the community we live in by spreading the word about the Big Heart of Swansea Loyalty Card. Dawsons’ Sales and Rentals branches will be distributing the loyalty card to all their clients to ensure that they don’t miss out on some great savings, whether it be a saving on a night out, something new for the home or a well-deserved pamper day. Our offices have also been selected by Swansea BID as registration and card collection points for the public not just our current or possible clients.”

To find out more about the city centre loyalty card, please visit www.bigheartofswansea.co.uk/loyalty-card-and-offers.

 

Chris Marina Office02

Could exciting new development plans transform Swansea as we know it?

Swansea city centre and its seafront have already undergone quite the transformation in recent years. In addition to Swansea Bay welcoming a plethora of new businesses, the city’s university has aligned with their world class reputation for research, innovation and education by doubling its campus in size, signalling a brighter future for its students, staff and the surrounding area. But the city’s exciting regeneration plans don’t end there…

Here Chris Hope, Partner at Dawsons Estate Agents, talks us through the multi-million pound proposals and the impact that the revamp could have on the economy, tourism, and the businesses and residents that call Swansea their home.

From the high street to the seafront

According to plans unveiled by Swansea Council, the city centre, from the high street to its harbour, is in for a major transformation. If approved, the outline plans will see two sites undergo redevelopment with work due to start as early as 2017. With developer Rivington Land & Acme leading the way, St David’s shopping centre, along with its car parking facilities, will face redevelopment with a landmark tower and 3,500-seat arena the jewels in the crown of the centrally based leg of the project. The tower is said to be designed to rival the Meridian Tower, whilst the neighbouring retail and restaurant facilities will provide a vibrant quarter at the heart of the city.

On the seafront, Trebor Developments will construct an aquatics research centre and public aquarium as well as a range of apartments, townhouses, eateries and public spaces.

The impact on our local economy

The increased level of facilities is what will really set the new and improved Swansea city centre and seafront apart from not just its former offering but from other cities and towns in Wales, including nearby rival Cardiff. If the developments were to go ahead as outlined the project will improve the look and feel of the high street ten-fold creating a welcoming environment for city centre businesses looking to set up shop within the area. In addition to generating more vibrancy, the development will attract even more investment with the proposals already resulting in a variety of ambitious and high quality shortlisted bids for both the Civic Centre and St David’s sites.

The new arena will also provide the facilities for a host of events, concerts and performances, a prospect that will increase tourism and spending within the area to support big and small brands based in Swansea. Tourism will be increased further thanks to the addition of what will be a world-leading aquarium and aquatics centre.

What will the plans mean for us?

For residents and businesses alike the potential for long term investment within the area will unlock a selection of exciting opportunities. For individuals, job prospects will increase dramatically, particularly within the retail and hospitality fields, whilst residential property values are likely to receive a boost thanks to access to the improved facilities. Business owners will also reap the rewards with enhanced footfall securing high ROI.

Like my fellow residents and business owners, I too am urging the redevelopment plans for Swansea city centre and seafront to go ahead sooner rather than later. I know I speak for many when I say that Swansea as a whole is tired of so many false dawns with delays relating to rail electrification, the procrastination of tidal lagoon and the job losses at Tata Steel just some of the issues casting negativity over whether this particular regeneration project will get the green light. This city really needs this development to happen for the reasons stated in this article and so many more!