Talking about cycles and continuity my granddad started building houses in Aintree and beyond from the 1930’s. Under my dad, the business turned from house building to property portfolio investment following the mid 70’s slump in the sale of new houses.
Thirty years on the business is now managed by one of my brothers and remains based at the Old Roan, Aintree with the portfolio under management stretching from Cumbria to Yorkshire to South Manchester but with the heartland in Aintree and Liverpool still.
Talk of a dip in current property prices with particular regard to residential property is a regular and press worthy topic of discussion.
Over the past 30 years our experience is that property has been a good, steady and safe investment with general capital appreciation over time from a mixed portfolio significantly residential but with some substantial commercial elements. Income has remained steady as well from such north western investments with little or no “bad debt�.
The trend towards home ownership rather than rented accommodation (other than as an investment) for many has been a significant one for the past few decades. The last 5 years particularly though has seen a very significant increase in house prices and it does appear the challenge for first time buyers of getting on the housing “ ladder� is tougher than ever. It will be necessary for funders to innovate and challenge in providing financial help for house purchase over the next few years to sustain the housing “chain� of transactions.
Innovation, adaptation and change are always key to success and home information packs and e-conveyancing are current challenges for the property industry. The former seem in temporary abeyance, the latter an important feature as computer technology aims to facilitate conveyancing both in the residential and ultimately the commercial sector.
The “old fella� at 83 years young frequently dashes down Northway from Aughton to make sure the young (now 40 something) brother is on top of things at the office. Takes me back to French A-level at Liverpool College; what was it “Plus ca change, plus c’est la meme chose?!�