2024 Living Sector Outlook

Shoosmiths take a look at the living sector outlook for 2024. This includes Build To Rent (BTR), Purpose Built Student Accommodation, and Later Living. Also included is:

Housebuilding

Planning, affordability and housing provision will the key area of focus for housebuilding in 2024. There will likely be an increasing demand for environmental sustainability and biodiversity in the planning and development process.

Partnering with BTR providers continues to be of interest to many housebuilders. Deals are being structured accordingly, with an emphasis on block sales of single family housing.

Affordable housing

The challenges and opportunities for affordable housing in 2024 are in the fundamentals – money, land and regulations.?However, there are early signs of an improving macroeconomic landscape, with the prospect of softening interest rates?and the increasing inflow of institutional money into the sector through the increased participation of For-Profit Registered Providers (RPs) that can drive development and investment in the sector.

Luxury Homes

If you’re fortunate to be at the other end of the scale, Luxury Lifestyle Magazine give their overview of how the?luxury market will perform for 2024,?with the assumption that many people in this bracket have little, if any debt on their current properties, which means they’re still in a great position to buy.

Whichever property sector you are in, the housing market is driven by perception?alongside?objective?factors like location and size. Buyers often form initial impressions based on the visual?representation of a property and different segments of the housing market utilise distinct branding strategies to appeal to their target audiences.

Good branding design is essential for success in the property sector.?It can help you:

• Establish trust and credibility:?A well-designed brand creates a professional and trustworthy image for your property development,?which is essential for winning over potential buyers.?
• Stand out from the competition:?A distinctive and memorable brand design will help your property development stand out in a crowded market.
• Connect with potential buyers on an emotional level:?Effective branding design can evoke positive emotions and create a connection with potential buyers,?making your properties more appealing.
• Communicate your value proposition:?A clear and consistent brand identity will help you communicate what sets your properties apart from others.

• Build a strong and unified brand image:?Consistent branding design across all marketing channels will help you build a strong and unified brand image,?making it easier for buyers to remember and trust you.
• Exclusivity,?sophistication?and a sense of prestige:?The need to?project these qualities for luxury homes.) give their overview of how the?luxury market will perform for 2024,?with the assumption that many people in this bracket have little, if any debt on their current properties, which means they’re still in a great position to buy.

Whichever property sector you are in, the housing market is driven by perception?alongside?objective?factors like location and size. Buyers often form initial impressions based on the visual?representation of a property and different segments of the housing market utilise distinct branding strategies to appeal to their target audiences.

Brand Relevance

While economic uncertainties might cast a shadow over the housing market in 2024, Frost Creative's newly released book, "Brand Relevance", offers insights to navigate these challenges. Featuring interviews with industry leaders like McCarthy Stone , retirement living, and Metis Homes , the book delves into the evolving needs of various demographics and explores strategies for building lasting brand relevance in a dynamic landscape.

To download your free copy of Brand Relevance, click the image.

About the Brand Relevance Book

On one level, a brand and its values should have always been the foundation that enables a company to effectively engage with all of its stakeholders.?

On another, a brand and what it stands for is increasingly the only way that a company can differentiate itself in markets which are becoming increasingly commodified and price driven.?

But it has to be genuine and authentic - and establishing those two key foundation attributes will result in trust.?

Arguably, is there any point in a brand being highly visible if people don’t have a sense of what it stands for, especially when the zillennial generation expects to see not just a set of values but how the brand lives up to them??

Their influence means that companies can’t tick boxes any more, or engage in facade-ism. A brand not only has to stand for something but needs to demonstrate its values.?

In the Brand Relevance digital book commissioned by Frost Creative, business owners and marketing professionals share their thoughts.