A rise in the number of affordable properties coming onto the market in the UK and the growing power of the digital property market is giving rise to a new breed of property investors, it is claimed.
The idea of a stereotypical property investor is no longer accurate, with innovations in technology opening up the market to an entirely new audience, according to Richard Reed, head of property at auction firm John Pye Property.
‘The image of the middle aged man in a suit with a medium sized portfolio is giving way to a new breed of investor. With the emergence of the online property market and an ever growing variety of properties that are suitable for buy to let, investors in 2018 are having to become digitally savvy and prepared to think outside the box when it comes to making their purchase,’ he explained.
A survey conducted by the firm found that the majority involved in property investment regard the current market in a positive light. Some 62% of respondents noted an increase in the number of affordable properties available.
‘There is no doubt that the industry is changing and the growth of the online property market is playing a huge part in this. Our monthly online property auctions have generated millions of pounds in sales since they began in 2013, with successful bidders from across the UK and around the globe,’ said Reed.
‘We anticipate that the online property trade will continue to grow going forward, and in doing so will usher in a new generation of property investors,’ he added.
One example is Ashley Dawn who focuses on properties in South Yorkshire. She has used a mixed property strategy and took to investing as a way to give her the passive income to be more financially free and spend more time on her other passions, such as travelling and farming.
‘I believe property will always be a sound investment and I think people have started to realise that property is a far safer pension pot and offers more security and greater returns than a lot of other trade or investment options available,’ she said.
