It is an age-old question, ‘Does size matter?’ And when it comes to property the answer is, ‘yes’.
According to research from the Royal Institute of British Architects (Riba), a lack of space is the most common cause of dissatisfaction people cite in relation to their homes. 75% of respondents consider a lack of space a ‘key problem’ while 69% say they do not have enough space for their possessions.
Despite space being an issue, even the smallest properties in Britain come with a hefty price tag.
Britain’s ‘smallest home’ – which measures a mere 188sq.ft – sold for over a quarter of a million pounds last year. The property, located in Islington, north London, is the fifth of the size of the average new build.
UK housing shortage
There is no denying that there is a housing shortage in the UK, and with rising rental and property prices, many people have to compromise on their living standards.
Research from Knight Frank shows that in the 12 months to April 2014, 141,000 homes were built in the UK however, house growth predictions suggests that there are an additional 230,000 potential households created per year.
Despite a 4% increase in construction recorded in 2014, many people are still unhappy with the size of the average new-build home.
And for those on a budget – such as students and young professionals – securing a modern, spacious home to live in is easier said than done.
Low levels of student satisfaction
According to WhatUni, the one area most students are not satisfied with centres around their accommodation.
A report from the National Union of Students shows that 51% of all students in the UK are opting to live in private sector housing rather than in university operated accommodation. New-build rooms are attracting a rising number of students who are staying in developments with built-in mod cons such as free Wi-Fi or gym access.
This trend has not gone unnoticed by investors who are taking advantage of this strong, high yielding market. In fact, investment in the student sector is set to reach a record £5.5 billion in 2015 – more than the last two years combined.
Building a better supply
To answer to the demand for new-build rental homes, Experience Invest has launched a new buy-to-let property investment in Liverpool.
Liverpool is known as a hub for students and young professionals. The city recorded the strongest jobs growth in England in May 2015 (CV-Library) and is ranked as the UK’s 8th best buy-to-let location (HSBC 2015).
Experience Invest’s latest student development, Parliament Place is strategically positioned just outside Liverpool’s city centre. With three major universities and two large hospitals in a one mile radius, studio apartments within the development will appeal to a wide rental market.
With planning approved for residential and student use, the apartments within Parliament Place will attract young professionals, key workers, undergraduate and post graduate students.
Largest studios on the market
The modern, self-contained studio apartments will be delivered fully furnished and at 25m2 they are some of the largest studio apartments on the Liverpool market. As all bills are included, residents will benefit from a lower cost of living without compromising their living standards.
The development will also feature a range of modern facilities such as a communal living room with a pool table and flat screen TV and an on-site gym. These new-build apartments will cater for those looking for reasonably priced accommodation in Liverpool.
Dale Anderson, Project Manager at Experience Invest comments: “We are pleased to launch our latest buy-to-let opportunity in Liverpool. Apartments within Parliament Place will answer to the demand for good quality rental property in Liverpool. The development is ideally located by two of the city’s largest hospitals and three major universities.
“This is a buy-to-let investment and investors will secure an assured 3 year income of 10% NET per annum. Investors will generate a passive income from this fully managed opportunity,” Anderson added.
Investors can purchase one or more studio apartments within the development which are then leased back to a well-established management company.
With 4% interest paid on deposited funds, investors will receive a passive income from day one.
Contact Experience Invest to ensure that you do not miss out on your chance to purchase a studio apartment within this new buy-to-let opportunity.