The Maidenhead Property Market and The Euro 2016 Football Tournament

With the Referendum on EU membership this week and the relentless media coverage we have had for months now, wouldn’t  it be nice for us to concentrate on something European that doesn’t involve party political broadcasts or politician’s treating us all like children?? So let’s talk about the Euro 2016 Football Tournament! Maidenhead is home to all different backgrounds and nationalities so if you're not lucky enough to be jetting off to France for any of the UEFA Euro 2016 football matches, have no fear! For a bit of fun (although there is a serious side to this – you know there would be with me!) I have taken a look at which European people live in Maidenhead so I know who to soak up the best atmosphere with!

During my research some interesting numbers appear. Going into the Euro 2016 tournament, France were 3/1 favourite’s, then Germany 7/2, third Spain 11/2, then England 9/1, Italy 16/1, Poland 50/1, Romania and Wales at 100/1, Ireland at 150/1 and Northern Ireland 500/1 (although Leicester were 5000/1 at the start of last season!).

Of the 101,770 residents of Maidenhead, of the Home Nations going into the competition, 81,999 of them are from England, 1,594 from Wales, 494 from Northern Ireland and 1,008 from Ireland, although I do feel sorry for the 2,013 Scots who didn’t get into the finals. Now interestingly, looking at the Mainland Europeans residents in Maidenhead, it might not surprise you that they make up 4.28% of the population as a whole (more specifically 2.49% from Western Europe and 1.79% from Eastern Europe).

Broken down into the relevant football teams, there are within the Maidenhead 

Constituency:

81,999 English

1,594 Welsh

1,069 Polish

1,008 Irish Republicans

570 Germans

494 Northern Irish

454 Italians

432 French

252 Spanish

100 Romanians

….. so we should have plenty of diversity and atmosphere when watching the matches around town!

But what does this have to do with the Maidenhead property market? Quite a lot, in fact. Many of these European people were economic migrants, especially those from Eastern Europe. There is no preferential treatment for council housing in Maidenhead, so EU migrants have in fact increased demand for privately rented accommodation in Maidenhead. 

This has meant, as demand for housing in Maidenhead has remained strong, Maidenhead landlords have continued to buy properties to rent out to keep up with this demand. Therefore, the value of every homeowner’s property in Maidenhead has been kept high because of the demand from these Maidenhead landlords buying starter homes to rent out, releasing existing homeowners to go up the property ladder – benefiting everyone in the chain.

However, rents have remained relatively subdued, in Maidenhead rents are only 20.1% higher than they were in 2005, not bad when you consider we have had 38.52% inflation in the UK economy as a whole over the same 11 years.

So, regardless of how you intend to vote this week, EU migration has contributed (amongst other factors) to stronger property prices in Maidenhead whilst rents have been kept in check by wage inflation, meaning existing homeowners, landlords and the economy as a whole in Maidenhead have benefitted.

Now I wonder who will win the footy? Back to the TV!

For more thoughts on the Maidenhead property market like this – visit the Maidenhead Property Blog