David Alexander is managing director of DJ Alexander, one of Scotland’s leading independent letting and estate agencies. Formed in 1982, the business now has more than 5,000 properties under active management, mainly in and around Edinburgh and Glasgow.
Where are you based? Our head office is in Edinburgh, where we have two addresses, shortly to be increased to three. We also have a Glasgow office.
How can your company help property investors? Of our many assets the key one is local market knowledge. Launched in 1982, this company has experienced every conceivable market situation in Edinburgh – peaks, troughs and bits in between when things was neither good nor bad – and the experience gained has been used to the benefit of investor clients. We can pinpoint investors in the direction of not only what to buy but where to buy – in some cases right down to identifying streets where a house on one side might be a better investment than a similar property on the opposite side.
What is your firm’s USP? We are driven by the company motto, “Extraordinary service.....exactly when you need it”. Whatever a client’s circumstances we will go the extra time to advise on the best possible option, i.e. the one that is best for the client and not for DJ Alexander. This is because a) it’s the right and proper thing to do; and b) it makes commercial sense as a substantial part of our caseload is repeat business from long-stranding clients.
What about buying trends? The effects on interest rates of quantitative easing means the market has rarely been so good for cash buyers or those with substantial deposits. One newcomer is the type of person who would not normally have considered property as an investment. The historically low level of interest rates has encouraged these people to move their bank and building society savings into property given that a flat bought with cash could provide an annual return three times higher – with, of course, the prospect of capital growth in the longer term.
How interested are you in property? For me property is not just a job, nor even a vocation but more a way of life. Beyond the business, I am interested in what property development can do to regenerate “tired” districts of major cities and improve society in general. I also have a mission to encourage the financial institutions to make long-term renting a viable option to home-ownership. In the UK, while owner-occupation remains the most popular form of tenure, it does not suit everyone and our people should have more of the choices available in other European countries such as Germany, The Netherlands and Italy.
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