With a growing population in London, housing demand is constantly increasing, but both the level of supply and range available still fall short of what is needed.
I hope developers and their advisers look carefully at their product, its specification and specificity as well as affordability. Living standards and expectations in the rented sector are rising. Developers will need to provide more variety in the types of rental products on offer to suit the whole spectrum of tenants.
We will start to see the impact of major initiatives that are changing how we view housing for London. The ripple effect of residential-led development and regeneration around the new Elizabeth line stops should attract a younger demographic to these areas. Increasing numbers of completed BTR schemes will be beneficial and I expect more developers to bring forward blended schemes, with for sales alongside BTR.
Resolution: To work even harder to drive the diversity and inclusion agenda, and support our next generation of property professionals. One of my most rewarding days in 2018 was attending the Pathways to Property summer school at the Henley Business School at the University of Reading. Having spent time with 100 students from state schools and colleges, I returned enthused and energised, and was reminded what an incredible industry we work in.
Mark Collins, chairman (residential) at CBRE UK
2019 forecasts: what lies ahead
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2019 forecast: Mark Collins (CBRE)