Hello readers. Before we get going, make sure you get yourself down to the latest session of The Property Vault in Medway.
The event is tomorrow (Tuesday 28th March) and The Innovation Centre Medway and we will be joined by Julie Hogbin. Julie is a property investor, trainer, author, and leadership & management expert with experience in HMOs and land sales. Her belief is that we all need to continuously develop in what is an ever-changing world, and she will be sharing her insights in this value-adding presentation.
It’s going to be a fascinating evening, and a great chance to network. You can pick up tickets for the event here.
For many of us living and working in Chatham, we have seen plenty of changes over the years since the dockyards closed. Now, a bright future lies ahead with the growth in the universities and constant regeneration. I have written a lot about this recently.
Related: The secret’s out! Why now is the time to make your mark in Medway property investment
Medway Council has now announced even more investment in the area: £4 million of government funding has been awarded to Medway to help regenerate Chatham and make it a better place for residents, workers and visitors.
This funding will begin with improvements for pedestrians and cyclists, making it easier to get from Chatham railway station to the waterfront bus station and town centre.
Improvements will also be made at New Cut Junction, St John’s Square, Military Square and Military Road.
These improvements include new signage, upgraded lighting and better pathways. The council will also be making the environment feel nicer with new tree plantings and benches, and by making St John’s Square more attractive. Military Square will be opened up and will also see improvements made to the paving, with fancy new artistic designs in the slabs.
All this was agreed following a public consultation. Clearly many may wonder if spending money on new artistic paving slabs is the best way to spend taxpayers money but, in my mind, any improvements to the area are worthwhile.
Related: Local plan – how the council’s development scheme could impact the Medway Property market
Medway Council is also consulting on its local plan, which is a government requirement. This looks at the future of the area such as housing, retail growth and a growing population. Currently the population of Medway is 276,472. By 2035 it is predicted to grow to 330,200.
The plans are available to see online and for those who wish to take part in the consultation they can do so here.
From an investor’s point of view, any improvements to an area are good news because they make living there more desirable. You will see in my past blog posts that I have written about how Medway house prices are still going up, despite being well below London prices.
This means it is a good time for an investor to buy. And with Medway being only an hour away from London by train, this is a great place to live for commuters squeezed out of the capital.
With the population growing, people need somewhere to live. And because not everyone can afford to buy, they will naturally be looking to rent. Many of these people will be young professionals who are accustomed to sharing living space, and are happy to rent a room in an HMO.
Clearly, there are plans to build more houses in Medway, but so far any increase in supply has not kept up with demand – which, ultimately, is good news for investors.
So, it looks like the future is bright for Medway. If this has sparked interest in putting your money into property as a first-time investor, or for growing your portfolio, I am here to help and advise you on any number of matters. Give me a call on 07944 726676 or email me at email@example.com.
And feel free to join the Property Investors in Medway Facebook Group, which is a prime place for landlords of Medway to swap tips and strategies with each other, as well as sharing networking opportunities.