Perhaps the greatest housing market changes over the past 10-15 years have been around city centre living and renting. During the last couple of economic downturns it has been city centre residential markets that have proven more susceptible to price corrections. This was largely due to the reliance on the buy-to-let sector in terms of sales and the seemingly fickle nature of rental demand.
This time around our analysis, judgement and forecasts suggest that residential property performance will be stronger in city centres than in traditional housing in out of town locations. This derives from a complete turnaround in the appetite, desire and view towards city centre living. The strength and pace of change has also led to the emergence of the Private Rented Community (PRC) institutional investment model. Progress has been slow but is now gathering momentum. Indeed, Bristol, perhaps alongside Manchester, is leading this drive with several specialist PRC developments set to be delivered over the next few years.
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