Whilst it is surprising to see a newly built property introduced to the resale market so soon, this provides a perfect opportunity for someone to purchase a property that is almost brand new, without the brand new house price increase! Generally speaking, I find that new build properties come at a slight premium when compared with older properties on the market.
I have personal experience with properties on Honeysuckle Road so I know first-hand the demand that there is from a rental perspective should this property be purchased by a buy to let investor. With almost brand new, modern features throughout and a few touches that have made this house a home, this house is ready to go in terms of someone wanting to move in straight away. Through demand for properties on this street that I have known to be available, I am certain that this property wouldn’t be on the market for long.
I feel this property would achieve a monthly rent of £560 if advertised on the lettings market which would equate to a yield of 6.4% for any buy to let investor. I am sure you will agree this is an impressive yield for a property that would be so popular.
Honeysuckle Road is a street with a mix of these new build properties as well as older properties and the older properties on this street do also rent very well. The demand for such properties is also very high as this area is well sought after and has good schools, drawing young families towards here as well.
There is an opportunity here for someone to buy a very nice house is a very nice location and, as a result, I don’t think this property would be around for long!