Houses Required For Popular TV Property Programme!

We are urgently looking for 2, 3 & 4 bedroom houses in the local area, if you would be interested in showcasing your property for sale on a very popular property TV show in the near future please get in touch via Facebook messaging, calling us on 01628 311 801 or emailing us on info@primequarters.co.uk

Please note selected properties will be exempt from Agents sales fees due to being subsidised by the producers!

1,915 Maidenhead Homes bought by private landlords in the last 20 years – Is this the end for first time buyers?

I was out last weekend showing some prospective tenants around a property in the riverside area of Maidenhead, when a smart gentleman approached me. ‘Hello’, he said, ‘You are the person writes that Property Blog aren’t you? We have met before at that Business Networking event in Maidenhead a few months ago’. I did then recognise him and, whilst I wont mention his name, he runs a small but perfectly formed well known independent retailers in the town ... It’s amazing who you see when out and about! Anyway, I was at a loose end for five or ten minutes before I had to pick my son up from football training in Taplow…… so we had a quick chat.

He wanted to know my thoughts on the future of the Maidenhead property market, and I would now like to share with you that conversation, my Maidenhead property Blog reading friends. People are always going to need a roof over their heads and somewhere to live will never go out of fashion – it’s a necessity for every single person. The 22 to 30 year olds of the town have a choice to what type of roof they have ... they rent from the Council, they can rent from a private landlord or finally they can get a mortgage and buy one. In the 1970’s/80’s and 90’s, the expected thing was to save like mad for two years for the deposit (going without luxuries) whilst living at home or renting a cheap two up two down, then buy your first house. However, more recently fewer Maidenhead youngsters have been buying, choosing to rent instead – mainly from private landlords (as Councils have been selling off council housing on the Right to Buy Schemes). The numbers are truly staggering ... and I want to share them with you.

Roll the clock back 20 years and Maidenhead was a different place. There were 23,921 households in Maidenhead and 17,562 of those were owner occupied. Move to the present, and with all the building in the town, the total number of households has increased by 6.21% to 25,407 and the number of owner-occupiers has increased to 17,758 (although as a proportion, it is only 69.8% compared to 73.4% twenty years ago).

However, it’s rented sector that is truly fascinating … twenty years ago, only 1,737 properties were privately rented in Maidenhead ... and now its 3,652, a rise of 1,915.

The twentysomethings of Maidenhead housing difficulties haven’t been helped by the local authority selling off council housing, with the number of council houses dropping from 27,29 to 242 over the same twenty-year period. Demand for decent rented property remains high, as Cameron’s much vaunted house building program is years away and has decades of under investment to catch up on before it starts to affect demand. Even with the Buy to Let tax rule changes over the coming few years (which will see the maximum tax relief available to landlords drop from 45% to 20%), private landlords still have an important role to play in housing the people of Maidenhead and those who educate themselves and treat it as a business will survive and prosper.

The best way Maidenhead landlords can protect their income from property (and mitigate the affects of the tax rises) is to keep the homes they let out in Grade A condition. I have found, especially over the last three or four years, Maidenhead tenants have ever growing demands from their rental property, but many are prepared to pay ‘top dollar‘ for houses and apartments that meet their high expectations. You must not forget, letting property in Maidenhead (in fact anywhere) is a business, so all private landlords should also seek the advice, opinion and commentary of property professionals.

... And just as I was getting late for picking my son up from football he asked…. ‘What about the news on the recent Stamp Duty changes for Landlords’ My thoughts are with such low supply (i.e. numbers of property for sale), and high demand it is hard to imagine Maidenhead property values will see much impact…maybe a slight lull over the next few months – but I predict, ever so slightly, the proportion of owner occupiers should increase slightly compared to buy to let landlords in the coming decade as the housing market should return to balance. 

Hill Farm Road, Taplow - 2 Bed Flat - central village location!

We are off to Taplow again! These type of flats in "Taplow Central" are such great investment opportunities. You can expect well above average yields for the area and huge demand from anyone looking to rent outside the hustle and bustle of Maidenhead. It's just come on the market with Pike Smith & Kemp for £315K.... given what has sold recently in this apartment block I would say that price is pretty much bang on..... so give them a call.

More details below:

http://www.rightmove.co.uk/property-for-sale/property-41458467.html

Berry Hill, Taplow - 2 bed Flat - Crossrail just up the road!

Good Morning, I am flagging this tidy 2 bed flat to you because the location alone should get them tenants flocking to the front door. Its on with Roger Platt for £375K so for anyone looking to start or expand their property empire this could just be the place for you. You could expect a rental income of around the £1,300 PCM... but I really do think because of the condition of the property and its location you will avoid all those horrible void periods!

Give the guys at Roger Platt a call for more details!

http://www.zoopla.co.uk/for-sale/details/40170710

Westborough Road, Maidenhead - 2 Bed Terrace - Newly Refurbished!

Good evening! I know may sound like a broken record, but our tenants are getting even more fussy and expect high standards for their monthly rent... that's why I like the look of this house on Westborough Road. It's just been kitted out and I will therefore will be really appealing from a rental point of view. It's on with Roger Platt for £400K... so you want to do a bit of haggling to maximise your yields but all in all a sound investment property! 

http://www.zoopla.co.uk/for-sale/details/40170059

Lyneham Gardens, Maidenhead - 3 Bed Terrace - Great Capital Appreciation!

Good morning! This might not jump out at you as a typical investment property..... but if you are in this for the long run then this type of house really offers some real financial benefits..... Obviously we can't see into the future but if house prices continue to rise at around 10% per year then the capital appreciation is not to be ignored...... I will let you do the maths. The reason I flag this place in particular is because of the location..... any houses that fall with good school catchments will always see solid financial growth, I particularly like this place because it is superbly done out and you could flip this back onto the rental market in 24 hours. 

Its on with Kirkwood for £475K.... so get in touch to find out more details!

http://www.zoopla.co.uk/for-sale/details/40122725

What would Brexit mean to the 17,700 Maidenhead Property owners?

I don’t know about you, but I find if you read the Daily Mail, there are only three topics that make the blood boil of ‘Middle England’. Bureaucracy from Brussels, House Prices and the late Princess of Wales. Ignoring the late Princess if I can for this article, but if we as a country were to unshackle ourselves from chains of Brussels (the first topic), could we inadvertently effect the second topic and make UK house values drop?

If you read all the newspapers, the Brexit debate seems to be focused solely on central London. Many commentators have said Brexit would mean central London would have a lower standing in the world, meaning less people would be employed in Central London, with the implication of lower wages, fewer jobs etc., in Central London ... but we are in Maidenhead, not Marylebone, Mayfair or any part of Zone 1 London.

Now on the run up to the vote on the 23rd of June, I predict the ‘in’ camp will start to scare homeowners with forecasts of negative equity, and the ‘out’ camp will appeal to the 20 somethings, who have been priced out of the property market with the prospect of a new era of inexpensive housing, should the fears of central London estate agents and developers, who believe the bottom will fall out of the market if we do leave, become real. The only reason the Mayfair’s, Knightsbridge’s, and Kensington’s of central London are attractive to foreign buyers are political and economic steadiness, an open and honest legal system and a lively cultural life. None of that is threatened by Brexit.

... But again, we are in Maidenhead and central London is 29 miles away. We are home town to the Maidenhead Rowing Club and was home to Sir Nicholas Winton, and whilst the central London property market exploded after 2009, that explosion really and honestly didn’t affect the Maidenhead property market. So, putting central London aside, what would an ‘in’ or ‘out’ vote really mean for the 17,700 property owners of Maidenhead?

Initially, over the coming months, on the run up to referendum, I believe it will be like the run up to last year’s General Election. With the short-term uncertainty in the country, quite often, big decisions are put on ice and people are less likely to make big money purchases i.e. buy a property. However, in the four months up to last year’s Election, property values in Maidenhead increased by 5.36%, not bad for a country that thought it would get a hung parliament! So that argument doesn’t hold much weight with me.

Post vote, should the UK opt to leave Brussels, there would be a much more noteworthy impact. I believe that a vote to stay in the EU would see the Maidenhead property market return to a status quo very quickly, but the contrasting result could lead to some changes. The principal menace to the Maidenhead (and UK) housing market could be variation (in an upwards direction) in interest rates as a result of a Brexit, which could theoretically see the cost of mortgages grow swiftly, pricing many out of the market … but then two thirds of landlords buy without a mortgage, so that won’t affect them. Also, according to the Bank of England, 80.33% of all new mortgages taken out in 2015 were fixed rate. Looking at all mortgages as a whole, according to the Bank of England, 44% of all UK mortgagees have a fixed rate mortgage, but 56% don’t, so if you aren’t on a fixed rate ... talk to your mortgage broker now, because they can only go in one direction!

So in reality, if I really knew what will happen, I wouldn’t be an estate agent in Maidenhead, but a City Whiz Kid in London earning millions. However, I suspect whatever decision the electorate of Maidenhead and the country as a whole makes, over the long term it won’t have a major effect on the Maidenhead property market. We have seen off ‘the end of the world’ credit crunch of 2008/9 and subsequent property crash, the 1988 Nigel Lawson induced post dual-MIRAS property crash, the 1979 Winter of Discontent property crash, the 1974 oil crisis that stimulated another property crash ... hell, we can even go back nearly a century with the 1926 post General Strike slump in property prices...

Today, property prices are 326.29% higher than 21 years ago in Maidenhead and are 10.6% higher than 12 months ago. So, make your own decision on 23rd of June 2016 safe in knowledge that whatever the result, there might be some short term volatility in the Maidenhead property market, but in the long term (and property investment is a long term strategy) there aren’t enough houses in Maidenhead to live in either to buy or rent … and until the Government allow more properties to be built – the Maidenhead property market, will be just fine ... even if it has a little blip in the summer, there could be some property bargains on the run up to Christmas to be had!

For more advice and opinion on the Maidenhead property market, even where those buy to let bargains could be found now ...

Windrush Way, Maidenhead - 4 Bed Town House - Real Potential!

Good Morning everyone! We are off to Windrush way today again.... just seen this 4 bedder that as an investment property offers real potential. To maximise your returns then I believe going down the HMO route is the best option..... if this is not your thing then look away now! If you choose this option then you could expect to have an average rent of £500+ for reach room.... thats a pretty healthy return!

Its on the market with Roger Platt for £375K.... so give them a call and get a viewing booked!

http://www.zoopla.co.uk/for-sale/details/40096393

10.8% rise in Maidenhead Property Values adds weight to the town’s Housing Crisis

Maidenhead’s continuing housing shortage is putting the town’s (and the Country’s) repute as a nation of homeowners ‘under threat’, as the number of houses being built continues to be woefully inadequate in meeting the ever demanding needs of the growing population in the town.   In fact, I was talking to my parents the other day at a family get together; the subject of the Maidenhead Property market came up in the conversation (as I am sure it does at many family parties in Maidenhead) after the weather and politics. My parents said It used to be that if you went out to work and did the right thing, you would expect that relatively quickly over the course of your career you would be buying a house, you would go on holiday every year, you would save for a pension.   But now things seem to have changed?

Back in the Autumn, George Osborne, used the Autumn Statement to double the housing budget to £2bn a year from April 2018 in an attempt to increase supply and deliver 100,000 new homes each year until 2020.  The Chancellor also introduced a series of initiatives to help get first time buyers on the housing ladder, including the contentious Help to Buy Scheme and extending Right to Buy from not just Council tenants, but to Housing Association tenants as well.

Now that does all sound rather good, but the Country is only building 137,490 properties a year (split down 114,250 built by private builders, 21,560 built by Housing Associations and and a paltry 1,680 council houses).    If you look at the graph (courtesy of ONS), you will see nationally, the last time the country was building 230,000 houses a year was in the 1960’s.

How George is going to almost double house building overnight, I don’t know, because using the analogy of a greengrocers; if people want to buy more apples (i.e. houses) in a greengrocers’ shop, giving them more money (i.e. with the Help to Buy scheme) when there's not enough apples in the first place doesn't really help.

Looking at the Maidenhead house building figures, in the local authority area as a whole, only 490 properties were built in the last 12 months, split down into 440 privately built properties and 50 housing association with not one council house being built.   This is simply not enough and the shortage of supply has meant Maidenhead property values have continued to rise, meaning they are 10.8% higher than 12 months ago, rising 0.5% in the last month alone.

I was taught at school (all those years ago!), that’s it’s all about supply and demand, this economics game.   The demand for Maidenhead property has been particularly strong for properties in the good areas of the town and it is my considered opinion that it is likely to continue this year, driven by growing demand among buyers (both Maidenhead homebuyers and Maidenhead landlords alike). You see Maidenhead’s economy is quite varied, meaning activity is expected to remain relatively strong into the early Summer of 2016, despite recent introduction of the new stamp duty rules in April.

.. and of supply, well we have spoken about the lack of new building in the town holding things back, but there is another issue relating to supply.   Of the existing properties already built, the concern is the number of properties on the market and for sale.   The number of properties for sale last month in Maidenhead was 439, whilst 6 months ago, that figure was 544, whilst three and a half years ago it stood at 902… a massive drop!

With demand for Maidenhead property rising, minimal new homes being built and less properties coming onto the market, that can only mean one thing ... now is a good time to be a homeowner or landlord in Maidenhead.   

Braywick Road, Maidenhead - 20 Bed Residential - One for the serious investors!

If you are in the premier league of property investment then this place has the potential to offer you some serious returns! It's on the market with Allen & Crane for a cool £2.25m. This place is offered to the market with full planning permission for 9 two bed flats and 2 1 bed flats..... Now I don't want to put numbers in your head but I reckon when developed you could shift the 2 bed flats for around £350K each and the 2 bed flats for £300K each.... this will offer a total resale value approaching £3.2m...... that's worth thinking about! 

No pics available but have a look at the Rightmove link below for more details....

http://www.rightmove.co.uk/commercial-property-for-sale/property-57459968.html

Cordwallis Road, 2 Bed Semi Detached - One to consider...!

Good morning everyone. Just doing my Monday morning scour of Zoopla and Rightmove and noticed this property has just come on the market with Roger Platt for £390K. From looking at the pics I think this place might need some tidying up here and there.... but the popularity of 2 bed rental properties means you should have no problems renting this out. 

Take a look below for some more details.....

http://www.zoopla.co.uk/for-sale/details/40068000

Doom and Gloom for the Maidenhead Property Market?

One of my landlords rang me last week from Church Road, after he had spoken to a friend of his. Over the Easter break, they were discussing the Maidenhead property market and neither of them could make their mind up if it was time to either sell or buy property. If you read the newspapers and the landlord forums on the internet, there is a good slice of doom and gloom, especially with changes in the taxation towards landlords, new legislation on checking tenants and the general uncertainty in the world economic situation.

I would admit, there are certain landlords in Maidenhead who have over exposed themselves in the last few years with high percentage loan to value mortgages. Those mortgages, with their current (yet artificially low) interest rates, will start to suffer, as their modest monthly positive cash flow/profit, i.e. income (rent) less costs (mortgage, fees, tax), will become negative when the tax and mortgage rates rise throughout 2017 and beyond.

It appears to me these landlords seem to have treated the Maidenhead Buy to Let market as a sure bet and have not approached this as a business and, as a result, they will suffer as they thought "Buy a house - rent it out so it covers the mortgage and make a few quid on top".  These are the people who will be thinking twice. I see opportunity everywhere and won't be stopping, I’m here to stay. It’s going to be an exciting new year.

Gone are the days when you could buy any old house in Maidenhead and it would make money.  Yes, in the past, anything in Maidenhead that had four walls and a roof would make you money because since WW2, property prices doubled every seven years … it was like printing money – but not anymore.

True, since January 1997, the average price paid for a Maidenhead flat/apartment has risen from £58,931 to today’s current average of £313,268 in the town, an impressive rise of 432% and terraced/town house have risen in the same time frame, from £88,867 to £396,698, a rise of 346%. However, look back to 2005, and in that year, the average flat was selling for £186,804, meaning our Maidenhead landlord would have seen a modest rise of 68% and the terraced owner would have seen an increase of 62%, as they were selling for on average £245,455 ... not bad ... until you consider inflation.

Since 2005, then inflation, i.e. the cost of living, has increased by 33.4%. That means to retain its value, Maidenhead terraced property bought for £245,555 in 2005 needs to be worth £327,360 today. Therefore, our landlord has seen the ‘real’ value of his property increase by 28.6% (i.e. 62% less 33.4% inflation).

The reality is, since around the early 2000’s we haven’t seen anything like the capital growth in property we have seen in the past and it’s not predicted to grow at the rates it has previously done either. So it is high time anyone considering investing in property stopped believing the hype and did some serious research using independent investment expertise. You can still make money by buying the right Maidenhead property at the right price and finding the right tenant. Think about it, properties in real terms are 28.6% higher than ten years ago, so investing in Maidenhead property is not only about capital growth, but also about the yield (the return from the rent). It’s also about having a balanced property portfolio that will match what you want from your investment – and what is a ‘balanced property portfolio’? Well we discuss such matters on the Maidenhead Property Blog ... if you haven’t been, then it might be worth a few minutes of your time?