With an ever-increasing demand for rental accommodation arising from constraints over the availability of mortgages, rents are progressively rising across the South East as would-be buyers continue their struggle to raise big enough deposits or meet lenders' strict mortgage criteria. The restrictions placed on first-time-buyers coupled with the poor returns that banks and building societies are currently offering on savings make the UK property market an appealing proposition for cash rich investors willing to venture into the buy-to-let arena.
With current research indicating that an estimated "yield" on investment properties is now running at an average of 6% across the UK, more than double the amount that investors can typically earn on a savings account, current market property prices and lower interest rates make it a doubly favourable situation for landlords.
Stephen Grace, Managing Director, JNP Partnership comments: "The lettings market in High Wycombe is particularly buoyant at the moment, and we are experiencing a notably high demand for new build homes in the area. The St James Wye Dene development in High Wycombe is proving to be very popular with tenants.
"Not only is it set in stunning location at the foot of the Chiltern Hills, offering lovely views across the river Wye, but transport links are excellent too. With the M40 close by and trains from High Wycombe direct to London Marylebone in just over 20mins, it offers a great investment opportunity for landlords.
"In our experience, any investor that has bought a property at Wye Dene has secured a tenant almost immediately. Demand is such that we even have a waiting list of prospective tenants desperate for properties to become available at the development".
Deana Everingham, Head of Sales & Marketing, St James advises prospective investors : "With demand high and homes in short supply, we are finding that new build properties are proving particularly attractive to landlords willing to purchase a buy-to-let property off-plan. Reserving a property in current economic conditions enables purchasers not only to get the pick of the best properties, but to purchase them at current market prices.
"New build homes also have the added advantage of far lower running costs and minimal maintenance required once occupied, resulting in reduced time and expense spent on tenant demands," Deana concluded.
For further information, please call 01494 259191 or visit www.wyedene.co.uk