Grenfell Road, Maidenhead - 2 Bed Terrace - Hot Spot For Tenants!

Good Evening everyone! Anything located in the Grenfell Road area is worth a look at for anyone investors in the Maidenhead area..... I really like this place because from the pics as it looks in good condition which is always great for a quick turnaround and back on the rental market. Although the Sales market may have be a bit quieter than what we are used to.... the rental market remains strong!

It's on the market with Connells for £400K. 

http://www.zoopla.co.uk/for-sale/details/41481455

Rents in Maidenhead rise by 2.9% in the last year

I was reading the Sunday Papers recently and when getting to the financial pages it was announced UK inflation had increased to its highest level in a year. Inflation, as calculated by the Government’s Consumer Prices Index, rose by 0.3% over the last 12 months.  The report said it had risen to the those ‘heady’ levels by smaller falls in supermarket and petrol prices than a year ago. If you recall, in early 2015, we had deflation where prices were dropping!

So what does this mean for the Maidenhead property market ... especially the tenants?

Back in November, the Office of National Statistics stated average wages only rose by 1.8% year on year, so when adjusted for inflation, Maidenhead people are 1.5% better off in ‘real’ terms.   Great news for homeowners, as their mortgage rates are at their lowest ever levels and their spending power is increasing, but the news is not so good for tenants.

The average rent that Maidenhead tenants have to pay for their Private Rental Properties in Maidenhead (i.e. not housing association or council tenants) rose by 2.9% throughout 2015, eating into most of the growth.  2015 wasn’t a one off either.  In 2014, rents in Maidenhead rose by 2.2% (where salaries only rose by only 0.2%) However, it’s not all bad news for Maidenhead tenants, because in 2013 rents rose by 1.8%, (but salaries rose by 2.2%).

… and it must be noted that the private rents Maidenhead tenants have had to pay for Maidenhead property since 2005 are only 20.0% higher, not even keeping up with inflation, which over the same time frame, rose at 27.8% (although salaries were only 22.3% higher over the same time period)

More and more, talking to 20 and 30 somethings who rent – it’s a choice.  Gone are the days where owning your own property was a guaranteed path to wealth, affluence and prosperity.    I know keep mentioning Europe, but some of the highest levels of home ownership are in Romania at 96.1%, Hungary at 88.2% and Latvia at 80.9% (none of them European economic dynamos) and even West European countries like Spain at 78.8% and Greece at 74% (and we know both of those countries are on their knees, riddled with national debt and massive youth unemployment).

At the other end of the scale, whilst we in the UK stand at 64.8% homeownership, in Europe’s powerhouses, only 52.5% of Germans own a home and only 44% of Swiss people are homeowners.  Looks like eating chocolate, sauerkraut, renting and good economic performance go hand in hand.  Yet, joking aside, home ownership has not always been the rule in the UK.   In 1918, only 23% of people were homeowners, with no council housing, meaning in fact, 77% were tenants.

Tenants have choice, flexibility to move, they don’t have massive bills when the boiler blows up, it’s a choice.  Maidenhead rents are growing, but not as much as incomes. To buy or not to buy is an enormously difficult decision.   For a while buying a Maidenhead home is a dream for the majority of the 20 and 30 something’s of Maidenhead have, it might not leave them better off in the long run and it isn’t necessarily the best option for everyone.  That is why, demand for renting is only going in one direction – upwards.

**Investment Opportunity** - Gerrards Cross - New Build 1 Bed Apartment

I've just become aware of an opportunity to purchase a One Bedroom New Build apartment in the centre of Gerrards Cross.... not yet released to the market! If this could be of interest to you please feel free to get in touch (duncan@primequarters.co.uk or 07786 982997)

Penyston Road, Maidenhead - 2 Bed End of Terrace - Maybe worth a look..?

Good afternoon, I'm bringing this place to you today because as you know houses that need a bit of TLC always catch my eye. There's no internal photo's to give us any indication on how much work is involved so give the guys at Waterman's a call to find out more, its on the market for £400K. As an investment before you dive head first into a doer upper I would see what else is on the market in the St.Marks Road area.... I think there are some similar places already done up that might be worth looking at as a comparison..... let me know how you get on?

http://www.zoopla.co.uk/for-sale/details/41414894

Shoppenhangers Road, Maidenhead - 3 Bedroom - Development Required

This place has just reappeared at the top of the internet searches again.... and I still think it may be worth a look at...? From having a quick scan of the description then it appears that the new double glazing is the only finished article..... but in order to maximise that return as investment or just to develop a dream home for yourself then you probably need to consider starting from scratch!

With these properties it all comes down to purchase price given the work required..... it's on the market with Roger Platt for £700K.

http://www.rightmove.co.uk/property-for-sale/property-42837114.html

9,400 People Live In Every Square Mile Of Maidenhead – Is Maidenhead Over Crowded?

Maidenhead is already in the clutches of a population crisis that has now started to affect the quality of life of those living in Maidenhead. There are simply not enough homes in Maidenhead to house the greater number of people wanting to live in the town. The burden on public services is almost at breaking point with many parents unable to send their child to their first choice of primary or secondary school and the chances of getting a decent Dentist or GP Doctor Surgery next to nil.

Well that’s what the papers would say.. but let’s look at real numbers, and in particular my specialist subject of Maidenhead Property, with the housing issue in Maidenhead. To start with, the UK has roughly 1,065 people per square mile – the second highest in Europe. The total area of Maidenhead itself is 6.743 square miles and there are 63,500 Maidenhead residents, meaning …

9,400 people live in each square mile of Maidenhead, it’s no wonder we appear to be bursting at the seams!

… but yet again, newspapers, politicians and property market bloggers quote big numbers to sell more newspapers, get elected or get people to read their blog (I recognise the irony!). A square mile is enormous, so the numbers look correspondingly large (and headline grabbing). Most people reading this will know what an ‘acre’ is, but those younger readers who don’t, it is an imperial unit of measurement for land and it is approximately 63 metres square.

In Maidenhead, only 13.43 people live in every acre of Maidenhead … not as headline grabbing, but a lot closer to home and relative to everyday life, and if I am being honest, a figure that doesn’t seem that bad.

Yet, the issue at hand is, we need more homes building. In 2007, Tony Blair set a target that 240,000 homes a year needed to be built to keep up with the population growth, whilst the Tory’s new target since 2010 was a more modest 200,000 a year. However, since 2010, as a country, we have only been building between 140,000 and 150,000 houses a year. So where are we going to build these homes .. because we have no space! Or do we?

Well, let me tell you this fascinating piece of information I found out recently in an official Government report. Looking specifically at England (as it is the most densely populated country of the Union), all the 20 million English homes cover only 1.1% of its land mass. That is not a typo, only one point one per cent (1.1%) of land in England is covered by residential property. In more detail, of all the land in the Country -

• Residential Houses and Flats 1.1%
• Gardens 4.3%
• Shops and Offices 0.7%
• Highways (Roads and Paths) 2.3%
• Railways 0.1%
• Water (Rivers /Reservoirs) 2.6%
• Industry, Military and other uses 1.4%

.. leaving 88.5% as Open Countryside (and if you think about it, add to that the gardens, which are green spaces, and the country is 92.8% greenspace)

As a country, we have plenty of space to build more homes for the younger generation and the five million more homes needed in the next 20 years would use only 0.25% of the country’s land. Now I am not advocating building massive housing estates and 20 storey concrete and glass behemoth apartment blocks next to local beauty spots such as Boulter’s Lock or The Sounding Arch, but with some clever planning and joined up thinking, we really do need to think outside the box when it comes to how we are going to build and house our children and our children’s children in the coming 50 years in Maidenhead. If anyone has their own ideas, I would love to hear from you.

Buffins, Taplow - 2 Bedroom Terrace - Village Location

Good evening! We are heading to sunny Taplow this evening where I have just noticed this 2 Bedroom property come to the market with Roger Platt for £380K. Places in "central" Taplow rarely come to the market so this is definitely worth flagging to you. You can expect a rental income in the region of £1,200 per month.... and for a place that's nicely kitted out this is well worth looking at...!

http://www.zoopla.co.uk/for-sale/details/41279417

Greenfields, Maidenhead - 3 Bed Maisonette - Close to Train Station

Not much in the way of photo's to go on, but if you are looking for a 3 bedroom place for under £250K then there is not too much about... therefore it may be worth you having a look at this place. Just a short a walk to the train station this will get attention on the rental market!

It's on with Chancellors for offers over £240K...

http://www.zoopla.co.uk/for-sale/details/41263810

72.1% of Maidenhead Tenants are White Collar Middle Class

With Maidenhead youngsters not able to buy their own property, my research would suggests the progressively important role the private rented sector has been playing in housing people in need of a roof over their head, especially at a time of increasing affordability problems for first time buyers and growing difficulties faced by social housing providers (local authorities and housing associations) in their ability to secure funding from Westminster and then compete against the likes of the Shanly’s and Berkeley’s of this world to buy highly priced building land.

Renting isn’t like it was in the 1960’s and 70’s, where tenants couldn’t wait to leave their rack-rent landlords, charging sky-high rents for properties with Second World War wood chip wallpaper, no central heating and drafty windows. Since 1997 with the introduction of buy to let mortgages and a new breed of Maidenhead landlord, the private rented sector in Maidenhead has offered increasingly high quality accommodation for younger Maidenhead households.

So whilst I knew in my own mind that the type and class of tenant has improved over the last 20 years, I had nothing to back that up ... until now. According to some detailed statistics from Durham University just released, for the The Royal Borough Council Maidenhead and Windsor area, the current situation regarding social status of tenants shows some very interesting points. Using the well known Demographic ABC1 grade classifications which refers to the social grade definitions (which describe, measure and classify people of different social grade and income and earnings levels, for market research, social commentary, lifestyle statistics, and statistical research and analysis) this is what I found out.

Of the 14,236 tenants who live in a private rented property in the The Royal Borough of Maidenhead and Windsor area, 39.54% (or 5,629) of those tenants are classified in the AB category (AB Category being Higher and intermediate managerial / administrative / professional occupations), compared to 37.59% owner occupiers who own their property without a mortgage or 7.40% who rent their property from the local authority. Fascinating don’t you think?

Looking at the C1’s (C1’s being the Supervisory, clerical and junior managerial / administrative / professional occupations), of the already mentioned 14,236 tenants in the area, an impressive 4,637 of them are considered to be in the C1 category (or 32.57%). Again, when compared with the owner occupiers who own their property without a mortgage, that figure stands at 32.97%   and 21.11% who rent their property from the local authority.  So, if we use the conventional measurements recorded by the white-collar “ABC1” i.e. middle class ….

This means 72.11% of tenants are considered middle class in Maidenhead

I could go through all of the social categories through to ‘E’, but I don’t want to bore you with too many numbers. The fact is that private tenants are moving up the social ladder and whilst back in the 1960’s and 70’s, the private rented sector in Maidenhead (and the rest of the UK) has customarily been viewed as a temporary tenure for 20 somethings before they bought a property, the increase in renting in Maidenhead, which I have talked about many times in the Maidenhead Property Blog may be a reflection of increasing difficulty for this group in accessing other tenures, but may also be a reflection that people nowadays choose to rent long term instead?

Maidenhead Landlords need to be aware that tenants now demand more from their properties, the agent and their landlord and whilst affordability for first-time buyers and tighter controls on lending may mean that potential first-time buyers are in the private rented sector for longer, they will still pay ‘top dollar’ rent for a ‘top dollar’ property.

For more articles like this ...please visit the Maidenhead Property Blog

Grenfell Road, Maidenhead - 3 Bed Semi Detached - Hot Spot for Investors!

Hello! Grenfell Road continues to be popular with investors and home owners a like so I am pretty confident that this place will get a fair amount of interest. The market has certainly dampened down over the past few months so you are seeing a large number of price reductions and price negotiations happening.... so if you can get this at the right price I think this is a great investment, especially as it is immaculately done out so will get a a lot of interest on the rental market. 

Its on with Roger Platt for £575K so give them a call and get yourself a viewing booked in!

http://www.zoopla.co.uk/for-sale/details/41223119