Forest Green Road, Holyport - 2 Bed Cottage - A bit of a charmer!

Good morning everyone. This cottage on the outskirts of Holyport is on the market with Hamptons with POA (although I think I saw this yesterday priced at £385K!?) - If you can snip this up for under £400K then I think you have got yourself a good deal. It would be a great little investment but also would attract first time buyers and those looking to downsize! Im struggling to pick holes in this one..... so maybe worth speaking to the folks at Hamptons for more details. 

http://www.zoopla.co.uk/for-sale/details/39311816

Belmont Road, Maidenhead - 2 Bed - This will get some attention!

Good evening everyone! Doing my daily search of the property this jumped out at me as the property of the day! Belmont Road is extremely popular with investors and first time buyers - with this 2 bed one being an immaculately done out it will get a huge interest from both these groups. As an Investor, you are not going to break the bank with % returns on the monthly rental income but expect that capital growth to approach or exceed the 10% in the next 12 months! Not bad at all! 

This is on the market with Waterman's and at under £450K I think this is a good deal as well! 

Take a look at the link below for more pics!

http://www.zoopla.co.uk/for-sale/details/39318901

What does 2016 have in store for the Maidenhead Property Market?

Maidenhead house prices up or Maidenhead house prices down? ... and if so, by how much? Those of you who read the Maidenhead Property Blog will know I am not the sort of person who pulls punches nor someone who ever fails to give a forthright and straight talking opinion – so here are my thoughts for the 17,758 Maidenhead homeowners and landlords.

The average Maidenhead property is 11% higher today than it was a year ago, which doesn’t sound a lot, but when you consider inflation is currently running at -0.1% (ie consumer/retail prices are dropping) and average salary growth is only around 2.5% pa, this is bad news for first time buyers as property affordability continues to decrease (although I was reading in The Times the other day that wage inflation (ie salary growth) is showing signs of weakening).

Some commentators have said the higher stamp duty taxes announced recently in the Autumn Statement for buy to let landlords, concerns over first time buyer affordability and the outlook of UK interest rate rises in 2016 will really dampen the property market. I hope you all read my previous article about what the new stamp duty rule changes would REALLY mean for Maidenhead landlords in my blog, but I believe the real issue in the Maidenhead property market is the shortage of property to buy, as people either worry there will be no suitable house to move to, or cannot afford to upgrade. However, on the supply side, Mr Osborne said in his Autumn Statement that he will change the planning laws to ensure the government meets the pledge made at the General Election (back in May) of 200,000 new homes a year.  All I can say is .. good luck George hitting those numbers!

Why? Because houses take years to build .. not months .. so George and his fabled house building aside .... where does that leave us in Maidenhead in 2016?

Well, talking of supply ... whilst Mr Osborne builds his properties (and let’s be honest - a week doesn’t go by without him being filmed on a building site with a high viz jacket and hard hat building a house here and there!), let us look at the shortage of properties for sale. Back in December 2011, 832 properties were for sale in Maidenhead .. today that figure is 426. On the face of it, this means there is less choice for Maidenhead buyers – but it also means with a restricted supply of properties for sale.... it keep property prices high for Maidenhead house sellers.

Everything isn’t all doom and gloom though ... again back in December 2011, the average property in Maidenhead took 104 days to find a buyer .. latest figures state this has dropped to 64 days .. a drop of 38% in how long it takes to find a buyer. However, when you delve even deeper, the best performing type of property today in Maidenhead is the 3 bed, which only takes 30 days to find a buyer (on average) compared to the 4 bed, which takes 79 days. It just goes to show, even though the average has dropped since 2011, how varied that change has been!

So, back to the question everyone is asking.... What will happen to property values in Maidenhead in 2016? I am going to suggest they will rise between 9% and 10%... nothing out of the ordinary, but unless something cataclysmic happens in the world, 2016 will be like 2015!

Ferry End, Ferry Road, Bray - Top End Investment Opportunity....Maybe?

Good morning. Today we are heading off to Bray. This house has just come on the market with Chancellors for £700K...... for that you don't get a huge amount of square meters, but when you consider this is slap bang in the middle of Bray then this just might be an opportunity for anyone looking for a doer upper!

You really need to get bashing that calculator to assess the amount it would cost to turn this place around.... but given its location you can guarantee some strong capital appreciation. 

Give the guys at Chancellors a call and get yourself a viewing, I think this is well worth a look at if you operate at the top end of the investment ladder. 

http://www.zoopla.co.uk/for-sale/details/39263542

The Maidenhead Property Market and £1,300,000,000,000,000,000 in loose change

The 5th of March 2009 was the date Mervyn King, the then Bank of England Governor, slashed UK interest rates to the unparalleled figure of 0.5%. In just under five months, starting on 8th October 2008, the rate had come down from 4.5% to that low figure, all in an attempt to ensure the British economy survived the worldwide credit crunch. Over six years later, just as we have put away the Xmas decorations, nobody expected it still to be at such a low level.

In the summer, people were predicting a rise in the New Year, yet now, some forecast it may remain the same for years to come the due to the issues in China. Now, I am not some City Whiz kid with a hotline to Mr Carney at Threadneedle Street, but merely a humble estate agent from Maidenhead, so I cannot profess to know what will happen to interest rates. However, what I do know, speaking to my Maidenhead friends and Maidenhead landlords is that these low interest rates have hit savers really hard.

If you added up everyone’s bank and building society savings in the UK, they would add up to £1,300,000,000,000,000,000 (that’s £1.3 trillion), most of which is earning a pittance in interest.  That is why more and more 40 and 50 year old Maidenhead landlords have been investing some of that cash into Maidenhead bricks and mortar, as they search for a low risk investment opportunity.

Buying a Maidenhead buy to let property isn’t risk free, but there are certainly things you can do to mitigate and lower one’s exposure to risk. You see by buying a rental property, it potentially offers an enigmatically decent proposition in terms of being able to obtain attractive returns that beat inflation and savings accounts, yet without taking the levels of risk associated with stock markets.

The UK residential property market has long been the safest form of collateral for lenders of all varieties. Against a backdrop of a greatly changing economic environment, Maidenhead house prices have been extraordinarily robust, increasing by over 2435.4% between 1974 and today. Some will say there have been significant property price falls, namely in 1975, 1988 and 2008, yet each time after this has been followed by an upturn in property values. For the record, the stock markets in the same time frame only rose by 432.5%!

.. and that is the best thing about buy to let property. Unlike the stock market, with its unfathomable equities, shares and bonds, that nobody really understands (as they are controlled by some faceless whizzkid in Canary Wharf!) with a buy to let property, landlords can take control and understand their investment .. in fact you can touch and feel the bricks and mortar investment.

..  but before you go out and buy any old Maidenhead property, plenty of landlords still get it wrong. You have to be aware of your legal responsibilities when it comes to tenant safety, tenants deposits, energy certificates and this year, landlords will have the added responsibility of checking the immigration status of prospective tenants. Get it wrong and big fines and even prison is an option – but that’s why many agents use a letting agent to manage their property for them.

Next, you have to buy the right property at the right price. Recently I have seen some really heart breaking situations in Maidenhead and the immediate area, of people paying way too much for a property, only to lose out when they came to sell. One example that comes to mind is that of a property owner in a semi detached house on Edinburgh Road, with easy access to Maidenhead town centre, Maidenhead central and Furze Platt stations, motorway access, local shops and amenities .. a decent three bed semi, 78 sq metres inside (839 sq ft in old money) sold in October 2009 for £235,000. In the summer, it only obtained £130,203, a drop of 44.59% or 9.52% a year - a very disappointing result.

I cannot stress enough the importance of doing your homework. One source of information and advice is the Maidenhead Property Blog where I have similar articles to this about the Maidenhead property market and what I consider to be the best buy to let deals around at any one time in the town, irrespective of which agent it is on the market with. If you haven’t visited and you are interested in the local property market in Maidenhead .. you are missing out! .. 

Cordwallis Road, Maidenhead - 2 Bed Room Terrace - Ready to go Investment Property!

Good Morning everyone. If you are an investor looking to beat those increased stamp duty charges in April then you should certainly take a look at this place. Its on the market with Braxton for £385K and for that you get somewhere which is ready to rent! Its really nicely kitted out and will attract all the right type of tenants.

Give the guys at Braxton a call and see if you can turn this around in time before April!

http://www.zoopla.co.uk/for-sale/details/39205489

Maidenhead vs Slough – Clash of the Property Market Titans

Many landlords have been asking me my thoughts on the Maidenhead property market recently, and in particular, what is happening to property values. My calculations show property values in Maidenhead quite interestingly grew in the month of September by 0.6%. When one looks at the annual growth, Maidenhead values are 8.7% higher (when comparing Sept 14 to Sept 15).  However, there are signs that the fundamental growth of property values in Maidenhead has now peaked, despite those average property values being above levels recorded in 2007 (just before the 2008 crash).

Even though prices are higher this month, this impressive rise of Maidenhead property values masks the underlying truth in what is really happening to local property values in the City. Throughout 2015, property values have been yo-yo like on a month by month basis, being quite volatile in nature.  

For example,

September 2015                      0.6% rise

August 2015                            0.1% drop

July 2015                                0.7% rise

June 2015                               1.1% rise

May 2015                                 0.6% rise

April 2015                               1.6% rise

March 2015                             1.8% rise

This is in part due to seasonal factors, as well as mortgage approvals increasing over June and July and then falling by over 15% in August, according to the Council of Mortgage Lenders (CML).

The outlook for the Maidenhead property market remains positive against the foundations of low mortgage rates and growing consumer confidence. However, I do have to question the recent CML mortgage data and whether that raises issues over whether the rate of growth since the Tory’s were re-elected in the early summer can continue? However, on a positive note, Maidenhead property values are still running ahead of salaries and average property values are 2.1% above the levels recorded in 2007.

Talking to fellow property professionals in the town, demand for property has been showing signs of moderating in the final few months of 2015, which in turn will lead to a slight slowdown in the pace of house price growth in the run up to the festive season. You see, it is really important not to read too much into one month’s (September’s) headline figures.

Readers might be interested to note that before the 2008 property crash, all the UK region’s housing markets tended to move up and down in tandem like the Maidenhead Synchronised Swimming team at the Magnet Leisure Centre Swimming Pool!  Since then though, the Greater London property market took off like a rocket in 2009/10, whilst the rest of the UK only really started to grow in 2012/13, and even then that growth was a lot more modest than the Capital’s.  Looking closer to home, it can even be different in neighbouring towns, areas and cities, so whilst Maidenhead property values are 8.7% higher than a year ago (as mentioned above), Slough property values are 12.1% higher than a year ago.

I cannot stress enough the importance of doing your homework.  One source of information and advice is the Maidenhead Property Blog where I have similar articles to this about the Maidenhead property market and what I consider to be the best buy to let deals around at any one time in the town, irrespective of which agent it is on the market with.  If you haven’t visited and you are interested in the local property market in Maidenhead….. you are missing out!

York Road, Maidenhead - 2 Bed Apartment - Tenants will love this one!

Good Morning All! This apartment has just come on the market with Romans for just under £280K - as an investor you could expect a rental income in the region £1,100 PCM which would give you a healthy yield of 4.8%! In order to guarantee this income you want to give this place a lick of paint here and there and maybe refresh the bathroom.... but apart from that its good to go. 

Give the ladies and gents at Romans a call and let me know how you get on!?

http://www.rightmove.co.uk/property-for-sale/property-39012345.html

Lillibrooke Crescent, Maidenhead - 3 Bed Semi - Prime School Catchment Area!

Good morning everyone! This place is on the market with Romans for £400K, Lillibrooke Crescent is such a popular area with investors and owner occupiers as it falls within the catchment area of Lowbrook Academy.... If you remember I wrote on article on this a few months ago and demonstrated the positive impact this has on the price of houses. 

Because of this you can expect a lot of interest.... so get on the phone to the guys at Romans quickly!

http://www.rightmove.co.uk/property-for-sale/property-38910027.html

Boyn Valley Road, Maidenhead, 4 Bed Terrace - Great Yields!

Good evening property fans! This place really is one for all those investors who are looking for top end yields..... HMO's might not be everyone's cup of tea, but I really do think some properties just lend themselves to a multiple occupancy set up. Going down the HMO route would probably increase your yield by c.40% so this place really may be worth a look in more detail. In order to get the best returns and just importantly attract the right type of tenant I think you would have to get this place spruced up..... but from looking at the pics this shouldn't be a job that breaks the bank!

Its on the market for £400K, so give the guys at Prospect a call to find out more!

http://www.zoopla.co.uk/for-sale/details/39103445

Maidenhead Buy To let –Freehold House or Leasehold Flat?

Well my Maidenhead Property Blog reading friends, as seems to be all the rage with Jeremy Corben asking the PM questions emailed in to him at Prime Minster Question Times, I to wish to answer a question emailed into me from a potential Maidenhead landlord last week. Nice chap, lives in Holyport, and it turns out, after having a coffee with him, he works in IT, has a spare bit of cash (now the kids have flown the nest) and wanted to buy his first buy to let property.

His main question was ... Do I buy a freehold house or a leasehold flat in Maidenhead?

Most people will say freehold every time, because you own the land. However, it’s not as simple as that (it never would be would it!). The definitive answer though is to research what Maidenhead tenants want in the area of Maidenhead they want! The tenant is ultimately your customer, and, if they don't want to rent what you decide is best to buy, then you are not going to have a successful BTL investment. So starting with the tenant in mind and working backwards from there, you won’t go far wrong. In a nutshell, find the demand before you think about creating the supply.

Leasehold flats and apartments in Maidenhead are excellent in some respects as they offer the landlord certain advantages, including the fact a flat can be initially cheaper to buy. Yields can be quite good, offering better cash flow. The building will already be insured and yes there is a service charge, but it’s still for a service at the end of the day and that cost is spread between many others (i.e. when your freehold house roof goes, its falls 100% on your shoulders) and one of my favourites is that there is often no garden to maintain or blown down fences to replace!

However, some Maidenhead leasehold flats can suffer from poor capital growth. Some leasehold properties have no cap on the level of the service charge and it may get out of control. The length of the lease will significantly affect value if not renewed before it gets too short. Thankfully there’s not many, but some Maidenhead apartments/flats have burdensome clauses. Finally, with leases, there can be sub-letting issues – which means you can’t let them out.

So what do the numbers look like? Well since 2003, the average freehold property in Maidenhead (detached, semis and terraced) has risen from £267,959 to £753,504, a rise of 181% whilst the average Maidenhead leasehold property (flats and apartments) has gone up in value from £151,043 to £266,139, a more mediocre rise of 76%. 

I was really interested to note that of the 8,099 rental properties in the Windsor and Maidenhead Borough Council area that the Office of National Statistics believe are either let privately or through a letting agency, 4,036 of them (or 49.8%) are apartments. However, there are only 13,988 apartments in the whole council area (be they owned, council rented or privately rented), which represents 24% of the whole housing stock in the area. This really intrigued me that, quite obviously, there is a high proportion of Maidenhead’s leasehold apartments/flats rented to tenants compared to detached, semi’s or terraced. Fascinating don’t you think?

Every Maidenhead apartment block, every terraced house or semi is different. Like I said at the start, the definitive answer though is to research what Maidenhead tenants want in the area of Maidenhead they want. Demand for town centre apartments, near the nightlife and transport links can be popular and can offer the Maidenhead landlord very good yields with minimal voids. However, Maidenhead terraced houses and semis, whilst not always offering the best yields (although sometimes they can), they do offer the Maidenhead landlord decent capital growth.

My advice to the prospective landlord as it is to you is do your homework.  One such website, which only talks about the Maidenhead buy to let Property Market, is the Maidenhead Property Blog. Another source of info many Maidenhead landlords use is me! What many Maidenhead landlords do, irrespective of whether you are a landlord of ours, a landlord with another agent or a DIY landlord, if you see any property in Maidenhead, that catches your eye as a potential buy to let property, be it a terraced house, semi or flat ... email me and I will email you back with my thoughts (although I will tell you what you need to hear .. not want to hear!)