A closer look at the property market in Maidenhead
PUBLISHED: 15:40 03 June 2015 | UPDATED: 15:40 03 June 2015
Gemma Gibson, Sales Manager at Romans, and Hannah Stinga, Lettings Manager, take a closer look at the town’s property market.
Property prices in Maidenhead have increased by 18.47% in the last 24 months (home.co.uk), and there is increasing demand from local buyers, as well as investors and those relocating from further afield. The average property price in Maidenhead in January was £429,097 (home.co.uk).
The £250m Landing project
Scheduled to finish in 2019, just in time for Crossrail, is Maidenhead’s £250m regeneration project, The Landing. The proposed plan is for the area between Broadway, King Street and Queen Street to be transformed into 225 apartments, 265,000 sq ft of office space and 48,000 sq ft of retail space.
A decision on the application is expected to be reached shortly, and could result in even more demand for properties in Maidenhead.
There is an exceptional surge of demand from tenants looking for two and three bedroom homes in good school catchment areas. Tenants will pay premium prices for the right property. The average rent for Maidenhead property is now £1,128 per month (Romans). The mortgage market is extremely competitive and Romans Mortgage Services is seeing some brilliant buy-to-let mortgage rates for landlords.
According to a recent report in The Telegraph, Maidenhead properties will see a price increase of 46% over the next five years. Investors are showing increased interest in one and two bedroom flats as current buy-to-let mortgage rates are so competitive. New stamp duty thresholds mean that if you purchase a property for £275,000, you save £4,500 in stamp duty.
The airport’s third runway proposals are also a factor. Maidenhead, Slough, Iver, Burnham and Langley have the advantage of not being directly under the flight path, but still very close Heathrow. Thames Valley has 60% more international businesses than the national UK average so has always resulted in a lot of professionals relocating.
Contact the team at Romans Maidenhead or request a property valuation at romans.co.uk.
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