A safe bet for buy to let at Little Northolt
According to figures from Rightmove since 2009 the rental industry has risen by 13.6% and predictions show a further 2% increase in 2013. With 36% of UK households now renting, a 5% rise in ten years, the demand for rental properties continues to grow. In London, 45% of households are renting and London rental rates rose by 0.9% last October resulting in an average rental price of £1,102 per month for a two bedroom home.
Featuring one and two bedroom apartments and three and four bedroom houses, Home Group has developed Little Northolt in partnership with Clearview Homes to provide perfect homes for singles, couples and families.
At Little Northolt, in South Harrow, Home Group is offering investors one and two bedroom apartments that are ideal ‘buy to let’ properties. Over 80% of the properties that have already been sold have been snapped up mainly by investors who have been impressed by the specification and predicted monthly rental yields of up to £950 for a one bedroom and up to £1,250 for a two bedroom apartment.
Other perks for investors include the location, as it’s situated halfway between South Harrow underground station and Northolt Park railway station, which is ideal for potential commuters. South Harrow is located on the Piccadilly Line and Northolt Park offers a direct service to London Marylebone in less than 20minutes. The local bus network gives easy access to the local area, including Harrow, Ruislip, Stanmore, Watford and Heathrow Airport.
Designed to a high specification, the apartments feature open plan living, dining and kitchen areas which are ideal for modern living. Some two bedroom properties feature an en-suite master bedroom and a main family bathroom. The houses are situated over three floors. Featuring a living room and fully fitted kitchen, these two properties each include a family bathroom and spacious bedrooms.
Sophia Arain, Head of Sales and Marketing for Home Group comments: “We are seeing lots of local investors returning to the buy to let market to increase their property portfolios. Their return to the market has been boosted by the lowest buy to let mortgage rates since 2007 and the low returns from traditional safe bets, such as banks and shares. With prices starting from £197,500 for a one bedroom and £250,000 for a two bedroom apartment, we have enjoyed great sales success, particularly from local investors, due to its investment potential and great location local amenities and facilities including underground and overground stations that offer great services to Central London, Canary Wharf and The City.”
All of the properties at Little Northolt have been designed with an excellent specification including a fully fitted contemporary and on trend kitchen units with oven with integral cooker and hood, a washer–dryer and full-height fridge/freezer, a thermostatically controlled shower with glass screen, ceramic floor tiling in the kitchen, bathroom and en-suite (where applicable), and carpets in all other areas.
The development enjoys a great location which is perfect for singletons and families, as the local shops and facilities, including a number of supermarkets are within a short walk. For parents, Welldon Park Infant and Junior Schools are within 200m of the scheme, and there are several primary and secondary schools near the development. These include Heathland and Earlsmead Primary Schools, Rooks Heath College, Whitmore High School and Harrow High School.
For further sales information about this development, visit homegroup.org.uk.
