The Maidenhead Property Market continues to disregard the end of the world prophecies of a post Brexit fallout and continues to perform well against most parts of the UK!
The challenge every Maidenhead property buyer has faced over
the last few years is a lack of choice – there simply hasn't been much to
choose from when buying (be it for investment or owner occupation). Levels are
still well down on what would be considered healthy levels from earlier in this
decade, as there is still a substantial demand/supply imbalance. Until we start
to see consistent and steady increases in properties coming to the market in Maidenhead
the market is likely to see upward pressure on property values….. despite us
being in a comparative lull to recent times!
However, there may be hope for first time buyers, with
homeowners looking to move upmarket and buy to let landlords looking for their
next investment, the Maidenhead property supply crisis just might be starting
to ease, as the number of new properties coming onto the market in Maidenhead
has increased.
For example, recently we have seen over 250 new properties
coming on to the market every month, not bad when you consider for the last
year the average has been in the 200 to 220 range. With the average Maidenhead
property value hitting a record high, reaching almost £564,500 according to my
research, this shortage of properties on the market over the last two years has
contributed to this ‘fuller' average property figure, but there is a glimmer of
hope that the Maidenhead's supply crisis may be starting to ease.
As I write this article, 3.93% of Maidenhead properties are
up for sale. In terms of actual chimney pots, that equates to 843 properties on
the market in Maidenhead (within 3 miles of the centre of Maidenhead) – which,
when compared to only a year ago when that figure stood at 507, this is a
serious increase in the number of properties available to buy. Split down into
the type of property, it makes even more fascinating reading...
- Detached Properties in Maidenhead - 188 on the market a year ago compared to 256 on the market now – an increase of 36%
- Semi Detached Properties in Maidenhead - 124 on the market a year ago compared to 216 on the market now - an increase of 74%
- Terraced Properties in Maidenhead - 56 on the market a year ago compared to 98 on the market now - an increase of 75%
- Flats / Apartments Properties in Maidenhead - 99 on the market a year ago compared to 226 on the market now - an increase of 128%
Realistically priced properties will continue to shift
quickly, and this increase in new properties (especially semis and apartments),
this is evidence of strength in the Maidenhead housing market that many didn't
expect. Many believed that the Maidenhead property market wasn't going to be
strong enough post Brexit - as what was a sellers' market before the Brexit
vote and Buyers' market in the early months after it, may now be somewhere in
between and the market might just be coming back into balance.
However, all this will mean property values won't continue
to grow at the same extent they have been over the last 12 to 18 months, and in
some months (e.g. the run up to Christmas and early in the New Year), values
might dip slightly. This won't be down to Brexit but a re-balancing of the Maidenhead
Property Market – which is good news for everyone.
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