I have been reading a few articles about the Buy-to-Let market slowing down and investors considering their options following the chancellor’s recent announcements, but so far I have seen no sign of this and the landlords contacting us for advice on which properties they should be buying hasn’t slowed down at all. This could in part be due to the huge demand for rental properties in Dunstable following the recent opening of the Amazon Fulfilment Centre, the announcement that another major employer Signature Flatbreads is increasing its staffing level by 200 and the increasing number of companies locating to the Woodside Industrial Estate.
A year ago I would have told you that 2 bedroom properties are the most sought after and although still in huge demand most enquiries are now for studios and 1 bedroom apartments which is probably an indication of the changing workforce in the area.
One of our existing landlords who has a 1 bedroom apartment in Dunstable has been investigating various investment strategies over the last 6 months and attending seminars on Rent to Rent and Options. He also attended our recent Tax information evening we held for Landlords to update them on the recently announced changes. This week he called me to say that after all his investigations he has decided that singles lets are his best option and after reading my recent articles and talking to me at our information evening he is looking to add 2 more 1 bed apartments in Dunstable to his portfolio.
We also had a retired couple who have previously held a portfolio of properties in Hertfordshire and Bedfordshire and are now looking to invest again visit our shop in Dunstable. After a discussion about the area and the potential for investing and demand for rental properties they are now actively looking for good quality apartments. We will of course be working with them and advising them on the suitability of any properties that catch their eye.
Another investor I spoke to 3 months ago called yesterday as he is just about to complete on an apartment and is looking for more. He has a number of properties in Watford but the increase in property prices close to London means that the figures no longer stack up for him and his chosen investment town is now Dunstable. We expect to be working with him on a number of properties in the near future.
These are a few amongst many enquiries we have had from investors this week and why I am not seeing any negative effect form the recent announcements, but Dunstable would seem to be an investors choice at the moment with its proximity to London, the creation of jobs and the increase of small and large businesses locating to the area.
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Daniel Bourke is the owner of Belvoir Lettings Dunstable and in his previous career in Architecture he was an Associate in a leading London Architectural practice