Investors move money
11 November 2008
INVESTORS LOSING CONFIDENCE IN BANKS AND PUTTING THEIR
MONEY INTO PROPERTY MARKET
There is growing evidence that investors who have their funds in banks around the world are losing confidence in the system and are moving their money into the property market.
One such investor, keen to re-invest their money, bought 11 apartments at Crest Nicholson's Harbourside development in Bristol city centre this week.
King Sturge is the selling agents for Crest Nicholson Regeneration at Harbourside.
Vicky Dudbridge at King Sturge said: “We are increasingly seeing investors who want to get their money out of the banking system as quickly as possible. Although the property market is at a low, people have more confidence in it than the banks.
“We are almost 70% sold in The Crescent building here. From the middle of August to the end of October we had 27 sales. The property market will take time to recover, but at the end of it investors will still have their property and they will have gained an income from renting the property out”.
Ed Osborn of The Bristol Residential Lettings Co who handle much of the rental market at Harbourside said: “The residential market is very good at Harbourside. We have rented out over 30 apartments there since September and are achieving £825pcm for one bedroom apartments and between £1,000 and £1,200pcm for two bedroom apartments.
“The rental market remains strong and I am not surprised investors are moving their money into bricks and mortar at the moment as they will at least gain an income from their investment, which is more than can be guaranteed from the banks”. /Cont'd…
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One bedroom apartments at Harbourside are currently available from £185,000 and two bedroom apartments from £230,000.
Under an Easy Buy scheme designed to help first time buyers onto the property market purchasers can buy one bedroom apartments from £138,750 and two bedroom apartments from £172,500. This scheme enables purchasers to own 100% of their home, but pay just 75% of the purchase price now.
For further information on the remaining apartments for sale and the Easy Buy scheme currently available at Harbourside go to www.harboursidebristol.com call 0117 9088888 or email harbourside@crestnicholson.com
ENDS 31st October 2008
Issued on behalf of Crest Nicholson Regeneration by Empica Ltd. For further information contact Liz Lewis on (01275) 394400.