Is There a Slowdown in the UK Off Plan Property Investment Market?

You may have heard about the recent slight downturn in the UK real estate market - however, according to recent news, certain off plan properties are still selling like hotcakes.

Vermont Developments Boasts of Record Off-Plan Property Sales

According to the Liverpool Daily Post, the Liverpool based Vermont Developments stated that in one development, 83% of the 187 apartments in the first phase were sold in the last week - breaking records. In total, all of the apartments, located at Parliament and Sefton Street, were sold off plan. Vermont believes that this feat will translate into successful sales of the 112 apartments in the second phase.

The Elektron Development Continues to Sell Its Apartments Off-Plan

Further, the Elektron Development built by Barratt, in the London Docklands has sold 379 off-plan apartments as of February 12^th of this year. As such, at that time, only 38 one and two bedroom apartments remain to be sold in this development. A Barratt salesperson says that he is not surprised by the popularity of this development as the building is located near Canary Wharf and the Docklands Light Railway station. The available apartments are on the 13^th and 14^th floors and are priced from £305,000 to £420,000.

All in all, this news is not bad for a real estate market that is supposed to be in a bit of a slowdown!