Last
week, I was speaking to a Landlord who lives in Datchet to discuss the
rising property values in the Berkshire area. He owns a varied portfolio of
rental properties, primarily in Maidenhead and Windsor with one in Slough, so
it is interesting to compare the increase in property values around the area.
Over
the last 12 months in Maidenhead average property values have risen from £459,900
to £495,600 a rise of £38,700 or £744 per week. When I looked at some of the
surrounding areas, Windsor has had a slightly lower than average increase in
property values, at around £740 per week (as the average value of a Windsor
property has risen from £467,800 to £506,300 , whilst Slough has had a significantly
lower rise of around £417 per week (taking an average property in Slough from £295,400
to £317,100).
However,
when one looks at the percentages, Maidenhead has performed the best, rising by
8.4% in the last 12 months, compared to Windsor at 8.2% and Slough at 7.3%! It
is, nonetheless, a rise in all the town’s average property values which suggests
the market is increasing steadily in our area, but especially Maidenhead– good
news for home owners and landlords alike.
However,
back to Maidenhead, long term property values which track peaks and troughs are
more helpful to landlord investors. The questions I seem to be asked on an
almost weekly basis by landlord friends are:-
·
“Should I sell my property in Maidenhead, or even buy another?”
·
“Is the time right to buy another buy to let property in Maidenhead and
if not Maidenhead, where?”
·
“Are there any property bargains out there in Maidenhead?”
When
considering this landlord’s buy to let portfolio, yields can be in the order of
an average 3%-5% per year, depending where you buy, so combine that with steady
rental growth, excellent increases in capital values of the properties
themselves and it could be a good time to invest in the property market in Maidenhead
as property values start to rise.
