Avamore Capital and LandInsight have collaborated on a roundtable discussion focused around the future of residential development. The hosts were joined by a range of industry experts including: Daniel Hillman, Managing Director, Hillnic; Raouf Belmouloud, Managing Director, Grace Charles London; Laith Mubarak, Head of Acquisitions, Click Properties; James Graham, Director, CBRE Development; Daniel Minsky, Director, Estate Office; and Matthew Firmston-Williams, Business Development Manager, LandInsight.
The session was chaired by Zuhair Mirza, Principal at Avamore Capital and topics covered were the biggest opportunities in residential development, potential changes in planning policy, the growth of modular construction and the increased use of big data.
Market Opportunities
Whilst the market is presenting some challenges in 2019, there are still opportunities to innovate and ‘think outside of the box’. This includes looking back at failed sales, considering niche schemes such as listed buildings and using strong brand identity to help cut through the noise.
Planning Policy
Specific discussion points around planning included the need to implement greater efficiencies in planning departments through maintaining staff and introducing a ‘box ticking’ process to push smaller applications through the system.
Modular construction
Naturally, conversations around the future of residential development turned to the growth of technology; participants examined the feasibility of scaling up on modular construction concluding that the benefits are vast in terms of consistency and efficiency, but it is likely to take some time for developers to become familiar with the process. Furthermore, end users will need to be comfortable investing in homes which are not made of bricks and mortar.
Big data
With some of the biggest tech giants including Google, Facebook and Amazon moving into the development sphere it is important to consider where this leaves the SME developer. In the residential space, there seems to be little pressure to conform just yet but certainly in commercial buildings the benefits of tracking user experience are vast.
Conclusion
The mix of developers and agents presented a range of unique and varied perspectives. Whilst 2019 is set to be a challenging year for much of the market, participants concluded that the future of residential development will prove to be successful if individuals remain true to their product and stick to values as simple as good service across the next 12 months.