‘What goes up must come down’: Isaac Newton’s 18th century London would have been vastly different to today, however, one of his most famous utterings still rings true in the capital. After six years of record price growth, surging transactions and an influx of overseas investment the prime London property market is now coming back down to earth.
Weekly reports on the market can change like the wind, with views differing vastly depending on the subject matter. Things became especially confusing In April 2017 when one of the major national newspapers published a story titled ‘Brexit PROPERTY BOOM: House prices in Britain set to soar 25% over next four years’, whilst another title ran a story on the same day with the headline ‘Housing market still reeling a decade after financial crisis’. This constant shift in attitude will have a direct effect on the consumer, which inevitably further contributes to caution and a slowdown in the market.
Ultimately, the property market is cyclical and consumer-driven meaning there will be as many ups as downs. This means there is always a positive story to tell. It’s important in adversity for those in the industry to tackle downturns head on and use their knowledge and expertise to guide their customers through the fog and confusion and deliver honest advice and deliver the best possible results today, with one eye on the future.
This is where the role of the PR agency is crucial in shaping their clients knowledge into the stories and reports that will ease the burden of the negativity surrounding the market and help cut through the confusion in the marketplace. One thing to remember about the property industry is that it will always survive, people will always need to buy property, be it a place to live, to let or to set up their business and with that they will need developers to build them, the agents to sell them or the experts to advise them.
Form out point of view, high-quality editorial is an incredibly powerful brand builder, which can help attract new customers, build trust among the consumer or drive serious sales lead. However, it’s not about blindly pushing out creative, it’s about having a deep understanding of the market and getting to know the client down to the minute detail. Every business is different thus in turn every story is unique, so it’s incredibly important for a PR agency to know what makes each client special and tell that story to the media.
Having worked in the industry for a number of years, experiencing many ups and downs and working with champions of the industry, it is our belief that London will continue to have a strong pull on investors. The city’s abundance of high-level housing stock, prime amenities and strong business core will provide the perfect environment for long-term property investment and it’s our job to help tell make that story stand out.