Almost 3,000 investors have crowdfunded more than £6m worth of buy-to-let property through investment platform Property Partner since it launched at the beginning of 2015.
Almost two thirds (63%) of Property Partner’s investors have bought shares in multiple properties – with individual investments ranging from just £50 to over £100,000.
To date Property Partner has listed 23 properties on its platform, ranging from flats in Whitechapel and Woking to houses in Hounslow and Hayes.
All the properties listed on the platform were fully crowdfunded in a matter of days, with the average fundraise period being just nine days.
And last month the platform listed its most expensive property to date. The two-bed flat in Tower Bridge went online at 1pm and by 1.35pm it had raised its target of £509,600 with investments coming in at a rate of £242 a second.
The platform also allows investors to offer their property holdings for sale via a designated secondary market.
Almost £1m of “resale” shares have already been traded on the so-called “property stockmarket”.
On hitting the £6m milestone Dan Gandesha, CEO of Property Partner, said: “This is a huge achievement so soon after launch and we couldn’t have done it without our rapidly growing community of investors.
“The reality is that buying a residential investment property on your own is more like starting a business. Through Property Partner you can diversify your investment across multiple properties – all in a matter of minutes.
“And, the recent Budget announcement by George Osborne, that mortgage interest relief will be cut for traditional buy-to-let landlords, further strengthens our appeal as an alternative way of investing in residential property.”