60 seconds with… Tom Chamberlain (Property Consultant)
What is the difference between residential purchases and commercial?
Clients tend to be less knowledgeable when it comes to commercial purchases. In fact, around 90% of my clients were unfamiliar with the concept at first! Commercial purchases involve a little more time explaining as we want each client to understand the differences which avoids confusion later on. From my point of view, that is the hardest part. One described, they are sold on the idea immediately.
What do you enjoy most about the day-to-day sales process?
I meet a number of interesting people from different cultures and backgrounds; particularly now that a number of foreign investors have placed their focuses on the UK (hotel investments in Greenwich for instance.)
Many share stories on how they first got into property buying as well as what drives them to continue doing so. I also love how varied the features are of each development as we visit each and every one of them (definitely a bonus!) There is nothing like experiencing the area first hand and watching the progression of each build. I now have a great relationship with each developer, meaning I can offer my clients the best possible deals.
Do you have any advice to give to those considering purchasing within the next few months?
To all foreign buyers, the time to buy is now! I’d definitely recommend taking advantage of the weaker sterling as you will get a lot more for your money. Prices will once again increase across the UK, although I suspect the luxury property sector will remain as it is.
To those in the UK, I’d recommend commercial investments if you are looking for the best in long-term yields. For first-time buyers, looking in areas with great transport links is a must as commuting into the nearest city may be a great alternative to living right in the centre where prices are often unaffordable.
Following on Britain’s unexpected decision to exit the EU, what is your opinion of the state of the market at the moment?
Markets are highly attractive to foreign buyers taking advantage of the weaker sterling. I have plenty of clients who are attracted to the UK – particularly our Liverpool and Manchester developments – due to their high yields.
Is it a good time to invest?
Yes. You can still achieve healthy rental yields across the UK that easily go from 1% to as much as 10%. You can also achieve significant capital growth, especially along the Crossrail route or wherever there are infrastructural changes taking place. The UK suffers from a chronic housing shortage alongside fast rising property prices, but with these changes follows more and more renters willing to pay the price for adequate accommodation.
Congratulations on your recent house move Tom! I must ask, what attracted you to South Hampstead?
Originally I looked at Belzise Park and Primrose Hill, but they were far too expensive for my budget. South Hampstead on the other hand was slightly cheaper due to the postcode difference despite how close they all are to one another.
What are the benefits of living in South Hampstead?
It’s perfect for families as it’s central to everything and boasts a number of great transport links, forms of entertainment and local amenities. Everything is within walking distance, the restaurants and takeaways are good and best of all, it’s cheap to live in. Plus it’s rather quiet considering how many families live there so it’s perfect for young children when it comes to bedtime.
Final words of wisdom?
Just go for it! Nothing but healthy returns and capital are on offer and the property prices will only increase the longer you wait, especially projects around the Crossrail areas.
Get in touch!
Tom gained a degree in Politics before working in the insurance and reinsurance industry for the likes of Lloyds of London and other Blue Chip companies for a number of years. He then moved to the Middle East to work for well-know property companies like Chestertons before joining us.
If you would like Tom to give you more bespoke and tailored recommendations based on his knowledge of the industry, feel free to contact him now on +44(0)20 624 5555. You can also find out more about his past experiences here here.