Recent media reports claim that the East Midlands is one of the best places for buy-to-let investment – with returns of 11.25% per annum over a five-year period for a 20% tax payer, and a still significant 9% per annum for a 40% tax payer – a return matched only by Yorkshire.
There is still a shortage of suitable property for sale, however, with high demand for the right property at the right price. And now prospective home owners in the East Midlands face the prospect of even tougher competition thanks to an increase in buy-to-let interest in the region.
Here we highlight some exciting new developments across the area, many of which have Help to Buy available, or other purchase assistance schemes that can help potential buyers secure their dream home.
Danetre Place in Daventry, Northamptonshire (Avant Homes)
With one property reserved by a couple immediately at its recent launch, Danetre Place in the market town of Daventry is made up of range of three-, four- and five-bedroom homes in 12 house designs.
The location is close to Leicester and Rugby and gives residents easy access to the M1, offering a combination of quiet living and straightforward connections to major cities like Northampton.
Featuring innovative house designs and a high specification, the properties at Danetre Place offer designer kitchens, family-focused interior space and luxurious bathrooms.
Avant Homes Midlands sales director, Debby Pavitt, says: “We know that there is a real demand for high-quality housing in this area, for both first time buyers and those looking to upgrade to a new home, so we are expecting interest in the development to continue to be high.”
Prices: From £262,500
Find out more at www.avanthomes.co.uk ; 01327 828698
The Ferns in Wixams, Bedfordshire (Kier Living)
Two contemporary show homes have now been unveiled by Kier Living Eastern at The Ferns, a new development of 43 homes in five different styles that offer generously proportioned bedrooms and family areas designed for modern living.
Situated in the new town of Wixams, where a new 300-acre wetland and parkland is planned, The Ferns is ideal for people who work in Bedford, Milton Keynes and London.
“The Ferns is a beautiful place to set up home, whether you are stepping onto the housing ladder for the first time, are a growing family, or even downsizing," says Kier Living Eastern’s sales and marketing director, David Thomas. "There is an exciting variety of homes on offer which makes for a wonderful community."
There are plans for Wixams to eventually offer a whole host of community amenities including shops, office space, schools, a primary healthcare centre, a town park, a sports hall and a library.
Prices: From £285,995
Find out more at www.kierliving.co.uk ; 01234 741951
Humberston Meadows in Humberston, Lincolnshire (Westleigh Homes)
In North Lincolnshire, Humberston Meadows will deliver traditional two-, three-, four- and five-bedroom homes to the area, appealing to a wide range of buyers. This site may be of particular interest to those working in the Armed Forces who are eligible for an exclusive Help to Buy package that offers additional financial assistance.
“We are pleased that this Armed Forces Help to Buy scheme will continue to be available until 2018, as it has made the dream of home ownership a reality for thousands of our servicemen, servicewomen and their families," says Robert Orr, Westleigh’s sales and marketing manager. “A number of our developments are conveniently located for specific bases and installations. For instance, our Humberston Meadows development in North Lincolnshire is only an hour’s commute from RAF Waddington, one of the UK’s largest RAF bases, and is a similar distance from RAF Scampton, the home of the Red Arrows. It offers an impressive range of properties to suit all lifestyles and budgets."
There are also six other Westleigh sites across the region that offer homes through the Armed Forces Help to Buy scheme.
Prices: From £167,950
Find out more at www.westleigh.co.uk ; 0333 006 6007
Spring Park in Mapperley, Nottinghamshire (Bloor Homes)
With panoramic views over Nottinghamshire countryside, and linked directly to Gedling Country Park, this development in the Mapperley area of Nottingham incorporates two-, three-, four- and five-bedroom homes.
It is just four miles from the city centre, yet manages to deliver an idyllic balance of city and country living. The homes themselves have practical and stylish open-plan living spaces, kitchens with integrated Hotpoint appliances, and contemporary bathrooms with Roca sanitary ware.
The lovely 240-acre Gedling Country Park is located to the rear of the development, with allocated pathways leading directly to it from Spring Park. Mapperley Golf Course is also around the corner, and at the heart of the development itself there will be an equipped children’s play area.
In Mapperley residents will have access to a whole range of local amenities such as a Sainsbury’s Local, a primary school, a country pub, a gym, and a range of local eateries and health services.
Prices: From £305,950
Find out more at bloorhomes.com ; 0115 871 7669
Burcote Park in Wood Burcote, Northamptonshire (Redrow Homes)
Burcote Park in the village of Wood Burcote, near Towcester, is a new development within an existing 59-acre country park that will appeal to those who want to escape to the country and enjoy a more laid-back rural lifestyle. Incorporating open spaces and groves of mature oak, birch, ash and maple trees, the development is being built on land that was previously private, but will eventually become accessible to home owners and local people alike as the new community is fully established.
“The homes we’re building at Ash Gardens and Oak View will have stunning views of the surrounding green open spaces,” says Tonia Tyler, sales director for Redrow Homes (South Midlands). “Residents will be able to explore the natural environment at their leisure and, with evidence that living amongst green spaces can seriously improve people’s health and well-being, buying a new home at Burcote Park could be good for you too!”
Northampton, Milton Keynes and London are easily accessible from the development, making it a great base for commuters, while Towcester's shops, schools and other amenities are less than a mile away.
Prices: Current availability includes four-bedroom homes starting at £422,950
Find out more at www.redrow.co.uk ; 01327 272122
Mill Fields in Broughton Astley, Leicestershire (William Davis Homes)
The sales centre and show homes are now open daily at this development on the outskirts of the south Leicestershire village of Broughton Astley. The scheme is bringing a spectrum of house types, from two bedrooms to five bedrooms, to suit a diverse range of house-hunters, and available with Help to Buy.
Sales consultant Nicole Ruiz, who has transferred from the housebuilder’s neighbouring Saxon Meadow development in Lutterworth, says: “Since launching at the beginning of the year, Mill Fields has attracted a lot of interest and become one of our busiest developments. Part of the William Davis Difference is that it’s important our customers can view and choose their new home at a time that’s convenient to them. By extending our opening hours we hope to offer greater flexibility and more chances to make their move!”
The development’s two four-bedroom show homes, the ‘Denwick’ and the ‘Medway’, are now open every day from 11.00am to 5.00pm alongside the sales centre and options suite, where buyers can look at the many ways they can upgrade and personalise their brand new home.
Prices: From £239,000
Find out more at www.williamdavis.co.uk ; 01455 283947
Damstead Park in Alfreton, Derbyshire (Avant Homes)
Damstead Park is an impressive development set in the vibrant Derbyshire town of Alfreton, offering a collection of three-, four- and five-bedroom homes.
The design-led properties at Damstead Park boast Avant Homes’ all-inclusive specification, designer kitchens with integrated appliances, bi-fold doors that allow natural light to flood into the properties and master bedrooms with sliding wardrobes and en-suite facilities.
A number of varied amenities are within easy reach of these new homes, for shopping, leisure and health. The development’s excellent road links means Derby, Nottingham, Mansfield, Sheffield and Chesterfield are easily accessible by car, while London, Liverpool and Norwich can be reached from Alfreton’s railway station.
Prices: From £272,995
Find out more at www.avanthomes.co.uk ; 01773 318118