Company Update June 2023
Welcome to our latest Company Update. I want to take this opportunity to introduce myself, Paul Broomham, as the new CEO of Michael Jones, and to say how proud I am of the work being achieved across the board in our beautiful area of Sussex by our fantastic teams.
Summer is finally upon us, and I’m sure you’ll all agree that it couldn’t come soon enough! Our gardens are in full bloom and our coastal cities and towns can be enjoyed to their fullest with cafes spilling out to the streets, sea swimmers taking a sunny dip and our beautiful South Downs are vibrant and green, ready for balmy country walks. The extra hours of sunlight have certainly helped us to recharge our batteries and push forward in all areas of the business.
The Market – Sales & Lettings
We understand there are some concerns caused by the current economic climate, yet our properties continue to sell quickly, generating plenty of interest from buyers locally, across the UK and abroad. People simply want to get on with their lives, having been put on hold with all the uncertainty over the last 3 years however expert advice and sensible pricing are key to getting you moving in this market place.
Rentals – again, there is a lot of demand and there has been within the last few years, demand is outstripping supply. The rents have increased substantially but are showing signs of stabilising, while the length of tenure is increasing as tenants are looking for a home not just a short term place to stay. Gross returns for landlords are good, and with the right investment and borrowing, can deliver a good annual return on investment and long-term capital growth.
This is all positive news for the property market moving forward. I personally want to reassure buyers, tenants, vendors and landlords that through positive and open leadership, I am supporting every team member in embracing these challenges, learning from them and collaborating with each other to continue in the current trajectory of development and growth for our clients and the business. We are hugely optimistic for the future.
If you would like to read more about the property market, you can find our full Q2 market update here.
Over the last three months our teams have supported some fantastic local charities and events. We were the main sponsors of the Findon Summer Revels Fair that took place over a sunny weekend in May The Findon Summer Revels Fair is an important annual event in our community, and we are proud to have played a part in making it happen. It was great to see so many families and friends come together to enjoy the fun activities, delicious food, and entertainment.
Im sure you have seen our colourful Pride Boards popping up around the town throughout Pride month. They will be here to stay until Brighton Pride, so keep your eyes peeled for them as they won’t be around for long!
Looking ahead to the rest of the summer, we have some more great events that we are supporting. The Ferring Village Festival on the 8th July which will be filled with food, drink, live music and fun, as well as the Family Fun Day on the 9th July at Broadwater Green which is raising money for the Motor Neurone Disease Association. There will be food & craft stalls, a dog show, games and so much more to be enjoyed.
At the end of the month the ever-popular Worthing Lions Summer Festival will be back, taking place on the 28th – 30th July, with everything from the fun fair, markets, car shows and fireworks. This is a family favourite and not one to miss!
Have a lovely rest of your summer,