Successful launches for Galliard Homes in Hayes
With cross rail due to complete in 2017, developers are looking are Hayes to develop new modern housing stock. The most recent developments Waterside and Trident House by Galliard Homes launched last week on Thursday and I attended the launch. Demand was high, which was evident by the large queue at 5:15pm and the 45 minute wait it took me to get in. Once in at 6.00pm, I was informed that all the plots in waterside had been reserved and 50% of Trident house was reserved as well. Inside the rush was evident as sales floor looked more like a scene of Wall street as buy to let investor shuffled around looking for a sales representative so they can reserve a plot. Then if the queue to enter was not bad enough, the queue to pay the reservation payment and exchange contracts was 30 to 45 minute wait as well. By the morning 99% of the slots had been reserved and Galliard Homes can be happy in the fact the launch was successful.
The Yields for these properties are very good as if these come on the market today studio apartments could achieve £1000 PCM, one bed £1100 to £1200PCM, two beds £1350 to £1450 PCM and for three beds £1600 PCM. This could change as these are not due to complete till the first quarter for 2016.
This just showed that buy to let investment is very high with all the development going in Hayes. This has a knock on effect on the normal housing stock as once the new builds are reserved then they will look at the rest of the stock on the market. This increase demand and thus increase in prices for vendors looking to sell.
If you have bought an apartment in one of these developments please call me in the office to discus how best to we can help you rent it once it completes.