EAST Hampshire business people learned at a recent meeting the residential property investment market is facing a challenging time.
But members of the informal First Friday networking group heard that Petersfield is thought to an ideal location for serviced apartments.
The view heard at their April meeting comes against a backdrop that has seen two estate agents, Harringtons, and Gasgoine Pees, leave Petersfield in the past two years
And although demand is high, more properties are needed for the residential rental market, say some local estate agents.
About 40 First Friday members met at the Folly Upstairs in College Street to hear the views of guest speaker Tanner Hassan-Hicks of the Ajito Property Group on the ever changing landscape of residential property investment.
Although a civil engineer by training, he works with clients to plan, source and manage investment properties via Ajito Property Group from his Antrobus House office in College Street, Petersfield.
In explaining the recent changes of how investors rental income is to be taxed, the additional stamp duty payable on investment properties and the reduction in “wear and tear” allowances, he described a market that has become more challenging of late.
However, he made it clear that supply and demand suggests property remains a viable investment. It might just need to be viewed slightly differently, and situated below the “beautiful” South Downs, he felt Petersfield provides opportunities for very successful serviced apartments.
Another exciting local possibility believes Tanner is the potential for investors to build in order to hold and let. UK wide a number of council’s are encouraging the concept, he said.
First Friday meets at noon for about two hours at the Folly Upstairs on the first Friday of each month, and is run by volunteers.
For more information visit the website www.first-friday.org or contact Clive Cook
of Cookson Design, The Media Barn, Kings Court, St Peters Road, Petersfield on 01730 261756, or by email [email protected]