As the buy-to-let market booms in Hertfordshire, investors are leading a surge in Weston Homes' sales. Investors seeing the benefits of high yields, low interest rates and a stable housing market are taking advantage of high tenant demand.
This had led Weston Homes to experience excellent sales success, with two of its developments, The Grove and New Mercia, in the popular locations of Baldock and Hitchin now sold out. The combination of trademark high specification finish and value for money has seen Weston Homes continue to invest in new sites in Hertfordshire.
Both developments also appeal to young professionals and couples wishing to combine the best elements of city and county lifestyles, with good local amenities and excellent transports links into Central London.
The Grove, in the historic market town of Baldock, was only launched in September 2010, but this development of 14 high specification two bedroom apartments appealed to buyers due to the combination of an easy commute to central London and the charms of its North Hertfordshire location. New Mercia is a collection of 104 one and two-bedroom high apartments situated in the centre of Hitchin, close to the town centre and train station. The sales success at the development reflects the improved market in the Hitchin area, with approximately three sales per month.
Paul Cousins, Partner at BPC Land Sales and Marketing, comments: "The Grove sold really well largely down to the quality of Weston Homes' finish and its affordability compared to other new homes in the area. The development proved to be very popular with buy-to-let investors, primarily because of the improvement in the mortgage market for those with larger deposits and those that are not so fortunate continuing to rent rather than buy. "It is very difficult for first time buyers to get a home, as not everyone's parents are going to give them the deposit they need. They can rent for £800 a month, because although they can comfortably afford the mortgage, they just cannot physically get it. With the stock market in the doldrums and interest rates so low, buy-to-let is popular again."
Bob Weston, Chairman and Chief Executive of Weston Homes, comments: "Our philosophy is to build high quality, good value homes where people want to live. Hertfordshire has been a very popular area for Weston Homes with a number of developments selling very well and a lot of interest from investors. We experienced excellent sales for The Grove and New Mercia, with both developments now completely sold. We are also now down to the last few remaining homes at Charter Place in St Albans and The Meads in Hertford. "In September, we will be launching a new development The Woodcrofts in Buntingford, comprising an exclusive collection of 11 stunning two, three and four bedroom houses."
Weston Homes have a growing portfolio of developments in Hertfordshire, which includes The Meads in Herford and Charter Place in St Albans, a new development only launched in March 2011.
Charter Place, St Albans, Hertfordshire comprises 14 one and two bedroom apartments and maisonettes, offering modern and sophisticated living, situated in a quiet residential area close to the charming city of St Albans, appealing to first time buyers, young professionals and couples alike. All apartments at this development are now sold.
The Meads, Hertford, Hertfordshire Set in a fantastic position on the River Lea, The Meads is a collection of 130 one and two-bedroom apartments with lovely riverside or landscaped garden views, situated just a five minute walk from Hertford Town Centre, which offers excellent shopping as well as a selection of charming restaurants, bars and pubs.
The popularity of the development means that there are only three one bedroom apartments remaining with one allocated parking space, and prices starting from only £171,495.