Aldebury Road, Maidenhead - 2 Bed Maisonette - Ideal Investment!

Good Morning All! This maisonette jumped out at me during my daily search of properties that have come on the market. I think this will get the attention of all the investors out there....its on with Romans for £290K and for that you can expect yields approaching 5%. For this price you get quite a lot of property for your money with a spacious rooms and a big kitchen which is a stand out for most maisonettes in the area. 

This will go quickly, so get on the phone to Romans!

http://www.rightmove.co.uk/property-for-sale/property-55800431.html

Portlock Road, Maidenhead - 2 Bed Semi - Opportunity for some DIY....!

Today I'm bringing your attention to Portlock Road - Its on the market with Pike Smith & Kemp for £375K. Any place that needs some work within this price range tends to get the punters flocking.....I don't think this will be any exception so this will probably result in a quick sale....?

I think for 2 beds in this area its at the top end of the price range, especially when you take into consideration the work that needs doing......that said I still think this an opportunity that should still be explored. If you can keep them modernisation costs under control you still may have a good deal...!

Take a look at this link for more details....

http://www.zoopla.co.uk/for-sale/details/38504649

Ray Mill Road East, Maidenhead - 2 Bed - Top End Maisonette!

Good evening. Its been a while since Ive posted anything on Maisonettes....so thought I would make you aware of this great example on Ray Mill Road East. Its really nicely kitted out so if you are looking for an investment, this is one that you can flip straight back on the market without having to lift a finger. I reckon you can get around the £1,200 PCM mark in terms of rental income.....but the right tenant may even pay more so think of marketing this a bit higher.....

Its on with Prospect for £350K.....more pics below:

http://www.zoopla.co.uk/for-sale/details/38504588

Maidenhead House owners desert the housing market with an 8 year low

Even though the housing market is in an upbeat state in many parts of the UK, getting on the property ladder is still challenging for many and regarded as unattainable by some.  However, that goal has become even worse recently in Maidenhead as the number of houses available to buy is at an 8 year all time low.

Back in Spring 2008, there were over 1,800 properties for sale in Maidenhead and since then this has steadily declined year on year, so now there are only 530 for sale in the town.  This continuing diminishing supply of housing has been happening over those years for a while and there simply aren’t enough properties in Maidenhead to match demand.

According to a recent report by the National Association of Estate Agents, that said, “There are now 11 house hunters fighting after every available house which isn’t sustainable.”   What that means is Maidenhead youngsters, who are looking to buy their first home, are finding themselves being squeezed out by the competition.  However, in the meantime, nobody wants to live with parents until they are in their 30’s, so that in turn creates demand for more rental properties, which means landlords have a greater demand for more rental properties so are buying more, resulting in even less smaller properties for the youngsters to buy, it’s a vicious circle.   

Talking to fellow agents, mortgage arrangers, surveyors and solicitors in the town, all of whom have extensive dealings in the Maidenhead property market like myself, most of us agree the movement in the Maidenhead market is taking place in the middle to upper market, higher up the property ladder and it’s second and third steppers pushing through the properties that are being bought and sold.

That has meant as people tend to move less in the middle to upper market, the number of the properties actually selling has drastically reduced over the last couple of years.

When we look at the individual areas of the town, it paints an interesting picture.

SL6 – Maidenhead, Taplow, Bray, Bray Wick, Cookham, Cookham Dean, Cookham Rise, White Waltham and Cox Green, , Altwood Road area, Hurley, Hurley Bottom, Holyport and the Northern end of Shoppenhangers Road  (Larchfield Road area), Northwest of the Town Centre, Pinkneys Green, Woodlands Park, Furze Platt, everything to the West of Ray Mead Road, Hitcham, Littlewick Green, Burchett's Green, Paley Street, Stud Green, Touchen End, Cookham Rise and part of Fifield,   87 properties sold in May 2015 (with an average value of £457,643), whilst over the Summer months of 2014, the number of properties selling in this postcode was between 149 and 163.

So what does this all mean for homeowners and landlords alike in Maidenhead?  Demand for Maidenhead property is good, especially at the lower end of the market.  However, with fewer properties coming up for sale, it means property prices are proving reasonably stable too.

You see I believe a more stable, consistent Maidenhead property market, with less people seeing property as an easy way to make a quick buck (as many did in the early 2000’s when prices were rising at nearly 20% a year so people were buying and selling every other minute), but a property market that has a steady growth of property values in Maidenhead, year on year, without the massive peaks and troughs we saw in the late 1980’s and mid/late 2000’s might just be the thing that the Maidenhead property market needs in the long term.

Gringer Hill, Maidenhead - 2 bed Terrace - Good Deal!

I do like this terraced house on Gringer Hill! If you are an investor then this could just be the place for you - its on the market with Roger Platt for the best part of £300K, but for that you will have to do some work to get this ready for those fussy tenants. As well a lick of paint you might want to consider replacing the bathroom and the kitchen - If you do this work you can expect yields approaching 5% and not have to deal with them financially tricky void periods because this will rent all day long!!!! 

Have a look at the link below for some more details.....

http://www.zoopla.co.uk/for-sale/details/38468107

Penyston Road, Maidenhead - 2 bed end of terrace - Needs some work!

As you all I know I like to make you aware of any projects that come to the market. This place has just been released with Waterman for £395K, I think given the amount of work that has to be done there could be an opportunity for a deal to be done here. ........Its a nice looking place though and in a good location so would be a good rental opportunity......

Let me know how you get on....?

Some more pics below....

http://www.zoopla.co.uk/for-sale/details/38439308

Maidenhead tenants feel the squeeze as rents continue to rise

As my regular readers know, my passion is talking about Maidenhead property. As a property agent I like to comment on the Maidenhead property market, which I hope will be of interest to both homeowners and buy to let landlords alike. However, this week, I want to highlight the plight of the tenants of Maidenhead as more and more of their wages are being taken up by ever increasing rents.

The cost of renting a home in Maidenhead has broken through the £1250 a month barrier as the average rent for a property in the town, now stands at £1253 per month, and whilst this was a drop of 0.6% last month, rents for new lets are 7% higher than they were 12 months ago.

House price inflation has certainly eased in Maidenhead from the heady days of 2014, but still with retail price inflation (for goods and services) reducing to 0% any increase in property values, no matter how small, means in real terms property is still getting more expensive. Meanwhile, many tenants have given up saving for a mortgage deposit as rents continue to take more and more of their wage packets leaving nothing to save for a deposit. That means, more and more tenants are deciding to rent for the long term and therefore the desire for decent high quality rental properties continues to exceed the available rental stock.

I would go as far as to suggest that rents are an ideal barometer to the state of the local economy as a whole and strongly believe that the recent increase in Maidenhead rents are a sign that the Maidenhead economy is picking up. 

This means Maidenhead landlords are continuing to capitalise on the Maidenhead property market. The most recent Land Registry data suggests the annual property price rises in the town have eased over 2015, leaving property values 11% higher than 12 months ago, so as property price growth is easing off, with the increased rents, rental yields are strengthening for the first time in years to compensate. The mortgage market has become more stable after the mad months of May and June after the Tory’s got back into No.10, and so, everything is set to be good news for landlords; even with the Chancellors change of tax rules in the coming years for buy to let mortgages.

You can get some amazingly low mortgage rate deals at the moment, so with mortgage rates so low and returns still extraordinarily attractive, there’s rarely been a better time to invest in rental properties.

However, (you knew there would be a however!), it’s all about buying the right property at the right price. Not all property types are seeing equal rises in rents and capital growth.  Different parts of the town, different types of properties are experiencing quite different changes.  For example, the average length of time the 65 Maidenhead properties up for rent between £250 to £500 per month is 79 days, whilst the average length of time the 125 properties at £500 to £1000 per month is an eye watering 108 days and 214 properties that fall into the £1000 to £2000 per month price bracket is 65 days.

When you start comparing different parts of Maidenhead, the numbers are even stranger!  The bottom line is that you must take advice and opinion. One source of advice and opinion is the Maidenhead Property Blog. In the Maidenhead Property Blog, you will see many more articles like this, discussions and even what I consider to be the best buy to let deals around, irrespective of which agent is selling it.

Whether you are a landlord, ‘Homes Under the Hammer’ addict or just a homeowner who is interested in what is happening to the local property market, then please visit the Maidenhead property Blog http://maidenheadpropertyblog.blogspot.co.uk