This ancient cathedral city offers a vibrant culture steeped in history; the soul of this city is formed of mediaeval architecture, boutique shopping and a thriving food scene with inspirational landscapes, breathtaking views and the unspoiled countryside of the South Downs National Park fringing the edges.
Winchester is an affluent city, but with private rental prices rising, it is very difficult for young professionals to get a foot on the property ladder. In 2021, Winchester was ranked the least affordable city to buy a home, with figures suggesting that buying a home would cost 14 times average earnings, higher than Greater London at 11 times (source: BBC).
In 2023, Zoopla is claiming that the average UK tenant now spends 23.3% of their gross pay on rent, that’s the biggest percentage share of pay for 10 years (source: Zoopla). Looking at Winchester specifically, the average private monthly rental prices start from £675 for a Studio, £842 for a one-bedroom flat and £995 for a two-bedroom flat, according to the Office for National Statistics (Private rental market summary statistics in England: October 2021 to September 2022). 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.
The LOWE Group has a number of properties in Winchester, providing affordable housing to local key workers and young professionals. When pricing our rooms at these properties, we found that the cost of living with LOWE is roughly 50-60% below market rate.
Property guardianship is not just about money, there is a flexibility that rental contracts can’t offer, and with abundant research opportunities in Winchester, 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.
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.
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