Affordable Living in Central Winchester

Property Spotlight: Coitbury House

As the BBC announces Winchester as the least affordable UK city to buy a home, we turn our property spotlight to our property Coitbury House, as a great option for affordable living in Central Winchester.

In partnership with Winchester City Council we are very excited to have launched Coitbury House. Our latest property in Winchester is situated in the very heart of the bustling cathedral city and is the former offices of Winchester council.

This property is perfect for guardian living; the accommodation is set across three floors, each floor with its own kitchen, and a large shared living area on the ground floor, ideal for communal working, cinema room or a performing area for more creative guardians. Winchester also has excellent transport connections into central London, as well as Southampton and Portsmouth on the south coast.

Winchester is a vibrant, ancient and cultured city which is steeped in history. World famous attractions, medieval architecture, boutique shopping and a thriving food scene are the soul of this city, and the inspirational landscapes, breathtaking views and unspoiled countryside of the stunning South Downs National Park are moments away.

Following a recent study carried out by the Halifax, Winchester is the least affordable city to buy a home in, with figures suggesting that buying a home here will cost 14 times average earnings, higher than Greater London at 11 times (source: BBC).

An affluent city with private rental rising, it is getting more and more difficult for young professionals to get a foot on the property ladder, and there is a real need for affordable housing schemes in Winchester.

We often talk about the housing crisis in London, but it is evident that the same issues are affecting numerous other cities. Over the past year, the Halifax estimates that the average house price in UK cities has grown by 10.3%. Looking at Winchester specifically, the average private monthly rental prices start from £625 for a Studio, £775 for a one-bedroom flat and £900 for a two-bedroom flat, according to the Office for National Statistics (Private rental market summary statistics in England: October 2019 to September 2020).

As a university town, thousands of students and researchers flock for the high level of education, meaning that the demand for the rental market is constant, and landlords and realtors can charge a premium on rooms. When pricing our rooms at Coitbury House, we found that the cost of living at our property is roughly 50% below market rate.

Guardianship is not just about money though, there is a flexibility that rental contracts just can’t offer, and with abundant research opportunities in the city, guardianship is the perfect option for those on short term contracts. It’s also ideal for people who are new to the city who want some flexibility while they get to know the area and choose the right accommodation path for them.

We are looking forward to having this property filled with wonderful guardians from all backgrounds, and being in such a phenomenal location, this will be one amazing community.

If you have a vacant building and you would like to find out how our bespoke service can work for you, contacts us today for a free consultation report with our recommendations on how best to protect your building. | T +44 (0) 207 856 0171