New builds will provide great investment opportunities in 2010
New builds could provide great property investment opportunities for first-time buyers, according to one property specialist.
Firstrung, which specialises in first-time buyers, contradicted a recent report from lovemoney.com that said good financial gains cannot be made from new builds.
It states that there will be some "bargains to be had" from newly built property in the new year.
Paul Holmes, from Firstrung, said: "New builds can be profitable] if you go off the level of discounts that are currently available, and the level of credit contraction. Particularly in the new year, when there are further cuts and developers have targets to reach – they will need to get some cash flow going."
He advised that two bedroomed houses often represent the best investments.
According to Mr Holmes, staying in the same house for several decades is not the best way to make money from property as a property crash could wipe out any equity invested.
A recent report from the National House Building Council revealed that 9,000 new homes were registered in October as people chose to invest in off-plan property. This is the highest amount since July 2008.
Visit our off-plan property UK page.
< Back to latest news