Property crowdfunding platform Property Partner has reported that investors have ploughed more than £6 million into buy-to-let property during the website's first six months of business.
The site reports that 63% of its 3,000 investors have bought shares in multiple properties – with individual investments ranging from £50 to over £100,000.
Since its January launch, Property Partner has listed 23 properties, ranging from flats in Whitechapel and Woking to houses in Hounslow and Hayes.
So far, all the properties listed on the platform have been fully crowdfunded, with the average fundraise period being nine days.
Last month, a two-bed flat in Tower Bridge reached its fundraising target of £509,600 in just 35 minutes.
"This is a huge achievement so soon after launch and we couldn’t have done it without our rapidly growing community of investors,” says Dan Gandesha, Property Partner CEO.
He says that in the wake of George Osborne's announcement that mortgage relief will be cut for landlords buying buy-to-let properties, his site's position as an alternative investment platform has been strengthened.
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