WHAT A YEAR ITS BEEN SO FAR IN THE CHESTER PROPERTY MARKET!

WHAT A YEAR ITS BEEN SO FAR IN THE CHESTER PROPERTY MARKET!

Many would say that 2021 was the busiest that most people in the Chester residential property sector had ever experienced and this time last year we were wondering whether there was going to be a significant slowdown in 2022; well, as we approach the end of 2022, although a calming has occurred during the year, the market has continued to be active.

Various announcements in late September caused uncertainty & mortgage products were pulled from the mortgage market. However, despite mortgage market volatility, some providers, including Virgin Money, The Mortgage Lender & the Bank of Ireland have re-introduced options to their ranges; there is optimism (borrowers are advised to take professional advice when considering a mortgage). Also, whereas the value of the £ dropped recently it has bounced back.

There is great excitement within the City of Chester currently, with completion of the Northgate Phase One development imminent and the new Market opening on the 5th of November. If we look to the outskirts of Chester, the construction of the King’s Moat Garden Village Development is well underway, with its planned 1400 new properties, together with neighbourhood shops and a new school; we can expect this development to result in many newcomers moving into Chester to live for the first time; which will increase demand for our City centre outlets and facilities.

There are companies and organisations within our great City, devoted to helping businesses, the public and our community; the author is proud to represent the Chester Association of Property Professionals (CAPP) as its Vice Chair.

CAPP, (formerly the Chester Association of Estate Agents & Surveyors) was founded 72 years ago. CAPP, over the last year, has been sponsored by local companies Daulby Read Insurance Brokers and Spire Mortgages. Our members include the whole gambit of property professionals also including estate agents, chartered surveyors, letting agents, developers and related property professionals; as of this year, CAPP will be inviting architects into their membership too.

The wealth of experience available to the general public, via CAPP members, is extensive and if a CAPP member does not provide the particular property service that you are looking for, then they are likely to know someone who does www.thecapp.org.uk

CAPP’s latest sponsor is Chester Bid (Business Improvement District (BID)) which represents over 450 city centre businesses.  The BID focuses on ensuring Chester remains a destination of choice for both businesses and consumers through a programme of city centre management, marketing, promotion and business support.

As the city continues its recovery from the pandemic and navigates the current costs crisis the BID has turned its attention inwards, to those opportunities for investment and development that already exist within the city.  To help spread the word Chester BID is launching its #investchester campaign, which aims to kick-start interest in Chester and reach those within the property sector who may not have previously considered Chester.

Post-COVID behaviours have changed and with its excellent transport links, quality of living, history and culture Chester offers the full package to businesses and individuals looking to relocate or start up a new company.  Against the backdrop of significant investment in infrastructure and leisure developments such as Northgate, Chester BID believes now is the time to begin shouting about all things Chester.

The #Investchester campaign is supported by Grosvenor and Cheshire West and Chester Council and will deliver PR, social media and marketing campaigns supported by sector-specific events.  Businesses and individuals are being asked to show their support by using the #investchester hashtag to help grow awareness of the campaign www.chesterbid.co.uk/investchester

Chester has much to look forward to!

Author, Gavin Floyd FRICS
Vice Chair Chester Association of Property Professionals
DEESURVEYS Limited
www.deesurveys.com