Property consultancy Myddelton & Major features strongly in the latest edition of The Parliamentary Review – a document that looks back on the past year in industry and politics.
The firm is included in the 2019 edition of the prestigious publication alongside contributions from the Prime Minister Theresa May, Lord Blunkett, Lord Pickles and Melanie Leech, Chief Executive of the British Property Federation.
Myddelton & Major is among selected outstanding industry leaders sharing best practice as a learning tool to the public and private sector and examining the state of the UK property market in the Property edition of the document.
The Parliamentary Review is sent to more than 500,000 leading business executives, policy makers and other relevant individuals and is seen as a blueprint for success and a template for reform.
Industry and politics come together once again in this year's Parliamentary Review – one of the UK's most widely circulated political publications, with contributions from organisations that excel, who provide their commentary on a variety of pertinent topics.
The publication affords organisations across the country to tell their side of the story to those whose hands are on the levers of the UK economy.
David Smith is senior partner at Myddleton & Major's Andover office, although the firm is better known and has primarily existed in Salisbury for over 100 years and also has a commercial management office in Westbury.
David discusses the Myddelton & Major journey, and tells the Review about the firm’s local knowledge, changes in the housing sector, online competition, Salisbury’s resilience, the market in general and looks to the future.
He said: “Our local knowledge has always been a point of real strength. A significant proportion of staff across both teams has grown up locally. This creates a real love for the place in which they work and a wonderful base of knowledge.
“That intimate understanding of the local area is of paramount importance, but we try to remain outward-facing in all the work we do. We’re small – 30 staff – and our key strength is undoubtedly how well we know our patch, but we recognise just how important it is to keep moving forward and developing all areas of the business.
David added: “The housing sector has changed dramatically over the last few years, as has the way it operates. Specialist firms like us, alongside larger organisations, are coming under threat from the online-only players.
“The younger generation is emerging, and emerging fast, but we believe that people and communication make the difference in delivering successful property transactions. People still like to speak to an agent.
“The generation of new, website-based companies are very IT aware, and we are seeking to emulate those levels of IT standards – but you can’t automate expertise.
“There are more competitors than ever, and we have been adapting our business practices to cope with such a dynamic marketplace. The sector is changing, and we anticipate that good, productive relationships will be more important for our future prosperity than ever.”
He said the tragic events that transpired in Salisbury in March 4 last year were disruptive, in particular for the retail sector in the city centre.
However, Managing Partner Philip Holford, based in Salisbury, believes that those who know the city appear to have been predominantly unfazed by it – with regard to property – and have continued to buy and sell.
Philip said: “This seems to be attitude across both the commercial and residential sectors; people are taking on industrial units, and business is continuing as it was prior, with large-scale city centre residential developments still being constructed.
“External expenditure and investment is still necessary. That said, however, the prospect of a new shopping development in The Maltings, by TH Real Estate and Janus Henderson, does give considerable uplift to those wanting to invest further in Salisbury.
“This is excellent – it shows a kind of silent resilience and solidarity from the people of this great and historic city.”
David added that he believed the future of Myddelton & Major was stable and secure.
“We celebrated our 115th anniversary last year, and while there will undoubtedly be some adversity ahead – both regionally, nationally and internationally – our firm has stood the test of time before. I have no doubt that it will do so again.”
Combining political commentary from leading journalists, with sector-specific insight from Secretaries of State, Ministers and MPs, The Parliamentary Review is an indispensable guide to industry best practice, which demonstrates how sector leaders have responded to challenges in the political and economic environment.
The Review has several editions, each focusing on an individual policy area with the strategic aim of raising standards by highlighting best practice. Myddelton & Major's article can be viewed in full here: https://www.theparliamentaryreview.co.uk/organisations/myddelton-and-major