Bigger isn’t always better, and differentiation matters when it comes to marketing professionally-managed private rented sector property (PRS). These were the key ideas to emerge from a panel discussion about the PRS at this September’s RESI Conference at the Celtic Manor resort in Wales. Madley managing director Jamie Beers was among the industry experts invited to sit on the panel.
The RESI Conference is one of the biggest events for the residential property business in the UK, bringing together leading developers, landlords, house builders, investors and public sector bodies. Keynote speeches this year came from former chancellor Lord Lawson, the new housing minister Gavin Barwell and London’s deputy mayor for housing James Murray.
PRS estates, typically purpose-built residential developments of apartments and housing units for let, have become a big part of the London property market. The panel offered different views on the ideal size for such developments, but were agreed that despite the lure of economies of scale larger developments generally offered diminishing returns. The panel also agreed that such properties were subject to the normal laws of marketing, so good quality, good design and product differentiation mattered. Those companies able to build brand recognition for these factors would enjoy an immediate advantage among prospective clients.
An overview of the panel discussion appeared in 30th September’s edition of Property Week magazine. Here’s a link.
By Jaimie Beers
Jaimie Beers is managing director of Madley Property.