Buy in Edinburgh and 'let' your money work for you
With the housing market beginning to show signs of recovery, now could be the time to invest in a brand new Redrow property in Edinburgh.
Nationwide*, one of the UK’s biggest mortgage lenders, reported steady increases in house prices in the latter part of 2009, while the Royal Institution of Chartered Surveyors** recently revealed an increase in buy to let enquiries.
Located in Ferry Road, just a short journey from the city centre, Optima offers a blend of apartments and townhouses, with a range of stylish two-bedroom apartments in the latest phase. The venture has been popular with buy to let investors and their tenants, as well as owner occupiers.
Diana Newton, Redrow’s sales director, commented: “With savers currently getting very little interest on money in the bank, investing in property is perhaps starting to look more attractive – especially with successive reports from lenders like Nationwide and Halifax reporting an upward trend in prices.
“Though nothing is ever guaranteed, would-be buy to let investors may spot an opportunity to generate a return from their investment, both in rental income and potential future resale value.”
Myra Blaik, from Kirkcaldy-based property letting and management agency Clear Lets, is one of those who thinks the future is brighter for investors.
She said: “It has been encouraging over the past month or so to see signs of growth in the property sales market with more ‘sold’ and ‘under offer’ signs appearing on advertising boards.
“There are some amazing offers available at the moment for potential buyers who can enjoy the double advantage of buying at a bargain price with future growth almost certainly assured.
“At Clear Lets we’re hoping this will help us maintain our stock levels of rental properties, where supply is currently struggling to meet demand.”
The change in market conditions suggests now could be a good time to invest in one of Redrow’s brand new, easy to maintain and energy efficient apartments at Optima.
Designed and constructed to high standards with the modern lifestyle in mind, investors don’t have to worry about costly renovations, repairs or redecoration to cater for the needs of discerning tenants as a Redrow home is ready to move into and features quality fixtures and fittings.
The Optima development has already proved popular with Clear Lets’ customers.
“With ready access to Edinburgh’s international airport, motorways and city centre attractions, this development has been extremely popular with our clients,” Myra commented.
“Properties at Optima have proven hard to resist with tenants signing up within days of them becoming available. Redrow quality is apparent in the style and finish with the additional bonus of first class after-care service.
“When advertising the properties we currently manage in the Optima development even we were surprised at the response from potential tenants keen to secure such attractive accommodation. Clear Lets prides itself on having a quality portfolio and Redrow’s Optima fits the bill.”
To discuss investment opportunities at Optima, where a two-bedroom apartment can currently be bought from as little as £131,995, visit the sales and marketing suite, Thursday to Monday, 10am to 5.30pm. Alternatively, log onto redrow.co.uk.
* nationwide.co.uk
** rics.org
