A new development from the country’s leading housebuilder could provide a lucrative investment for would-be landlords – whilst also giving first time buyers a real chance to get a foot on the housing ladder.
Persimmon Homes Lancashire is building 42 new two and three-bedroom homes at Woodfarm Hey in Stockbridge Village, Liverpool.
The company says two-bedroom homes at the well-located site can be picked up for less than £70,000 – making them highly attractive to first time buyers.
And it says anticipated rental yields of up to 7.7 per cent mean the development could also prove to be extremely popular with property investors.
Sales director Diane Finch said the new development – part of a major regeneration of the area – offered something for everybody.
“It is now possible to buy a two-bed home at Woodfarm Hey for just £64,995, making the development extremely attractive to first time buyers.
“And if you buy now and complete by the end of September 2013 we will also give you an allowance of £1,000 towards your legal fees and fully fitted carpets.”
Diane said the competitively-priced development was also attracting considerable interest from property investors because of the higher-than-average yields which could be made.
She said mortgage experts Wiseone had indicated monthly yields of up to 7.71 per cent on the two-bed Penrose homes and 6.71 per cent on the three-bed Hanbury. The figures suggested the site’s Rufford homes could realise a 6.3 per cent yield, while the Clevedon, on the market for £114,995, would yield 5.74 per cent.
“The rental market remains very strong in this particular area and we are already receiving strong interest from investors who clearly see the potential that our homes at Woodfarm Hey have,” Diane added.
The three-bedroom Hanbury show home is now open at the site, which is ideally situated just minutes from the M57, A57 and M62 motorway junctions making commuting very accessible.
The Hanbury has a lounge and separate kitchen/diner with patio doors to the rear garden and also downstairs cloaks. The first floor has a master bedroom with en-suite, a further two bedrooms and family bathroom.
To find out more about the development log on to www.persimmonhomes.com