Rental demand makes Poole Quarter hot property for investors
In today’s tough economic climate where bank savings are accumulating little interest, investing in property for the rental return alone is a highly attractive option.
According to local estate agent Connells, Crest Nicholson’s Poole Quarter development in Poole is indicative of this trend and is proving popular with savvy buy-to-let investors. Achieving high rental yields and strong capital growth, Crest Nicholson has noticed a rise in the number of investors looking to buy at the development.
Scott Sowter, Branch Manager at Connells in Poole commented: “Poole Quarter has demonstrated that buy-to-let investors have a great opportunity to capitalise on the increasing demand for apartments in the area. The new development is particularly appealing to investors as it offers the perfect combination of a top quality product in a prime location. Purchasers will also benefit from having a ten year guarantee on their property through the NHBC, so they can have peace of mind knowing that their investment is under long-term warranty.”
Chris Warner, Sales & Marketing Director for Crest Nicholson South, said: “Recent statistics indicate that rental demand has hit a record high and people are being forced to rent for longer due to a lack of availability on mortgages. Savvy investors have realised this and we’ve recently seen a significant increase in the number of investors buying at Poole Quarter. These buyers recognise that low interest rates mean poor returns on cash left in a bank account and they therefore feel that putting their money into property is a better long-term bet.
“Prior to November 2007 when 100%+ mortgages were readily available and low deposits were required, buying their own home was top of first time buyers’ agenda. Since the downturn however, the need for rental properties has overtaken as, due to the high level of deposits required, many first time buyers are finding it increasingly difficult to get a foot on the property ladder and therefore need to rent instead.”
Poole Quarter comprises an impressive selection of one, two and three bedroom apartments and penthouses. With modern home features throughout, and many apartments including a private terrace or balcony, purchasers can expect superior quality at the Poole development. Investors can even benefit from incentives such as Crest Nicholson’s furniture pack, providing the opportunity to rent their property fully-furnished to achieve a higher, monthly rental rate.
Poole Quarter is situated in the perfect location for water sports enthusiasts, with sailing, jet-skiing and windsurfing hotspots on its doorstep. Furthermore, the development is close to shopping facilities, restaurants, a leisure complex and is a short distance to the town centre and local train station.
Prices at Poole Quarter start from £149,950 for a one bedroom apartment and £192,000 for two bedrooms. Three bedroom apartments are available from £225,000 and penthouses start from £350,000. First-time buyers can purchase a one bedroom apartment at Poole Quarter from £149,950 which equates to £119,960 when bought through EasyBuy*. A two bedroom apartment can be purchased from £192,000, equating to £153,600.
For more information, please visit the Sales and Marketing Suite at Poole Quarter which is open daily (10am – 5pm).
* EasyBuy offers first-time buyers the chance to own 100% of their new home at 80% of the price, paying no rent or interest on the outstanding 20% for the first five years. EasyBuy is only available on selected properties and is not available in conjunction with any other offer. The remaining 20% is left outstanding as a loan for up to 10 years secured by a second mortgage. Homebuyers pay 0% interest fixed on the outstanding 20% for the first 5 years and only 3% interest pa (typical 3.00% APR) thereafter.
