What's changed in IV22 in December?
Posted Jan 10, 2014
I believe the golden key lay in quality. Of course location location location is a must but it is easy to become blinkered and miss the out of town gems. Taking IV22 as an example, Zoopla reports a 1.6% increase in property values over the last three months rising to 5.34% and 6.9% over six and twelve months respectively.
When many of us have watched property prices decline since 2009 (excluding the hotspots) this proves how important initial selection really is. This has been borne out by our own projects in the region; Tigh Na Clach (stone cottage) which I built and later sold in June 2008 for £249,000 has pretty much held its value* and rests far above IV22 averages.
This is about that initial choice. Nestling in an area of outstanding natural beauty, builds such as this are limited with plots currently commanding c£80k so demand will, naturally over time, exceed supply. Secondly, developers per se cannot build in the same way as the demand for margins cannot allow for the finer detail. Such intricate detail adds to the quality and wow factor of the build as everything I build is done as though it is mine. If only!
One important factor in the build is to recognise others may have different personal choice so flexibility is also key. Another example which better shows this is a more recent project in IV22. This is four houses in a five acre site creating a village within the village whereby the same detail has been given across the entire site so culverts have matching stone etc. These properties have the flexibility of being homes, second homes or run as a commercial venture of holiday homes in an area where 25 weeks occupancy with an ROI of 8%pa is pretty normal. Equally they have been built to allow roof space to be converted and with a Jack and Jill bathroom arrangement to maximise that flexibility. So location, flexibility and genuine quality make for sound investment in beautiful property. This latest project can be seen here.