Buy to let is not dead - at least not according to one housebuilder.
David Wilson East Midlands has reported a rise in buy-to-let investors inquiring about its homes in a bid to make the most of once-in-a-generation prices.
According to the developer it is not just seasoned investors seizing the opportunity but more significantly Sales Director Philip Lacey has spotted an emerging group of first-time buy-to-let investors using the downturn as a chance to start a professional property portfolio.
Lacey said: "New-build property has always appealed to investors due to its low maintenance and because of housebuilders' experience in dealing with bulk purchases.
"However, the economic downturn and uncertainty in the housing market over the past 12 months has meant we’ve seen a definite reduction in the numbers of customers coming to us for buy to let. Until now that is; in March alone we received a number of significant volume deals, interestingly from individuals brand new to property investment."
The buy to let sales have been spread across a number of David Wilson’s East Midlands’ developments and in varying volumes from two to 24 plots, proving that the region has significant appeal as an investment opportunity.
David Wilson East Midlands’ observations are backed up by a recent report from the Association of Residential Letting Agents (ARLA), which said buy-to-let property sales had doubled during the first quarter of the year.
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