New home in Plymouth proves perfect for first time investor

First time property investor Annie Dawes is enjoying watching her investment thrive after buying a Barratt apartment at PL2 in Plymouth.

Annie, who lives in France, was keen to retain a base in the UK and decided that a buy to let property would be the best investment for her funds.

Plymouth was Annie’s first choice of location and she was delighted to be able to buy in her home town.

“I was born and brought up in Plymouth and have family still in the area but key to my decision was knowing the city and the strong rental market meant it was easy to find a tenant quickly.”

Annie said she really likes the fact that homes at PL2 are giving a formerly rundown area of Plymouth a new lease of life.

“Maybe one day we will return to the UK so having a property in Britain means we still have a foothold in the market,” said Annie.

The redevelopment of North Prospect is a 10 year plan with £129 million being invested in new homes and improving local facilities and amenities.

Development work at PL2 is almost complete and Barratt believes that rental yields of more than six per cent mean the final homes will be snapped up soon.

Barratt Homes sales director Sara Parker said Annie is typical of investors who are turning to property for a long term return on their money.

“We were delighted to help Annie choose her investment at PL2 and the home let in just five days which demonstrates the strength of the rental market in Plymouth,’’ she said.

“We are seeing demand from both new and experienced investors looking to capitalise on the strong rental market and good yields. Those with funds are keen to invest for the long term and low interest rates currently available on buy-to-let mortgages are encouraging more people to look at property for their investment portfolio.”

Barratt currently has a number of homes available for investors. For full details log onto barratthomes.co.uk