Is this the end of buy to let in Maidenhead & Taplow?

Well George Osborne, in his recent Autumn statement, caused local landlords to ask whether buy to let is a viable investment option, when he announced that landlords, when buying another buy to let property from April 2016 will have to pay an additional 3% stamp duty on top of the standard rate. So for example, on a £100,000 terraced, the stamp duty goes from nil to £3,000. It becomes quite stark when you look at the middle to upper market, so it means that the stamp duty bill for a £285,000 buy to let home will rise from the current £4,250 to £12,800 from April next year. 

Some say property in Maidenhead & Taplow will be worth less because potential landlords will not be willing to pay as much for them, and if house builders or existing homeowners don't feel they are going to get as much for them , then there is less motivation to build / sell them?... and the person we can blame for this is George himself. Back in 2012, he choose to utilise the British housing market to kick start the UK economy, with  subsidies, Funding for Lending and Help to Buy. However, whilst that helped the Tory’s get back into power in 2015, some say this impressive growth in the UK property market has been at the expense of pricing out youngsters wanting to buy their first home.

Others say this is the straw that breaks the camel’s back as over the next four years Landlords will slowly lose the ability to offset all their mortgage interest against tax on rental income, after changes announced in the Summer Budget. At the moment, landlords can claim tax relief on buy to let mortgage monthly interest repayments at the top level of tax they pay (ie 40% or 45%). However, over the next four years this will reduced slowly to the basic rate of tax – currently 20%.

Surely this is the end of Buy to Let in Maidenhead & Taplow? Probably.. but before we all run to hills panicking .. let me give you another thought.

Stamp Duty rules were changed in December 2014. Before then, landlords were eagerly buying up properties under the ‘old slab style Stamp Duty’ system. For example, the stamp duty bill on that £285,000 property was lower on the old slab style duty (pre Dec 2014), at £8,550, yet it isn’t a million miles away from new £12,800 stamp duty bill. Interestingly though, George has left a legal loophole in the new rules, because when it comes to selling up, they can offset purchase costs against any eventual capital gains tax, including stamp duty.

I believe that total returns from buy to let will continue to outpace other investments, such as the stock market, gilts, bonds and even pensions. Also, the best part about investing in property is that it is bricks and mortar. You can touch it, you can feel it, and it isn’t controlled by some City whiz kid in Canary Wharf .. the British understand property and that goes a long way!

Buy to let has enough impetus behind it that prospective landlords will continue to buy even with a larger stamp duty bill. Local landlords will need to be savvy with what property they buy to ensure the extra stamp duty costs are mitigated.   Buying buy to let property is a long term venture. In the past, it didn’t matter what property you bought in Maidenhead or at what price – you would always make money. Now with these extra taxes, the adage of ‘any old Maidenhead house will make money’ has gone out the window.   You wouldn’t dream of investing in the stock market without at least looking in the newspapers or taking advice and opinion from others, so why would you take the same advice and opinion about buying a buy to let property in Maidenhead & Taplow?

Ellington Road - 2 Bed Flat - Needs some further investigating!

Good afternoon! Just spotted this place on Zoopla..... Not much to gone with this one! I think it could make a good little investment..... not everyones cup of tea being so close to the Bath Road though. Even still I am sure this will get a few enquires because of its proximity to Ellington Road and the Riverside. 

Its on the market with B. Simmons & Son for just under £300K. Give them a call to see if you can find out a bit more on the condition of the property......

http://www.zoopla.co.uk/for-sale/details/photos/39085333

Taplow Property Market – What has 2016 got instore for us?

I had an interesting chat with a Taplow homeowner after he popped into our offices for a coffee whilst his wife was doing some last minute Christmas shopping (that reminds me, I must start thinking about mine!). We got taking about the Taplow housing market and I thought other Taplow homeowners and Taplow landlords might be interested in what we discussed.

You see, property values didn’t stop dropping in Taplow until January 2010, so after a strong run over the last 6 years, the ever upward drive of house price rises has started to turn, with increases in property prices now easing in Taplow. Taplow property values last month increased by 0.6%, yet the month before they dropped by 0.1%. Now part of this can be attributed to the time of year (last year property values in Taplow dropped by 0.1% in October but recovered by 0.6% a month later), but it is obvious as with ourselves and other property professionals in Maidenhead, we are wary about the direction of the market as a result of the not as strong demand and fewer house sales. However, to put a wider perspective on this, whilst Taplow prices were rising by 12.1% year on year earlier in the Summer, they are still currently rising at 8.7% year on year!

Interestingly, looking at the Land Registry data, 88 properties have changed hands and sold in Taplow over the last 12 months, a drop from the preceding 12 months before that (2014), when 118 properties sold and 93 in the year before that (2013). The main indicators suggest that buyers will start to gain the upper hand. However, there are many homeowners who don’t need to sell and won’t bother unless it’s economically beneficial to do so, but most homeowners are homebuyers, so what they lose with one they gain with another.

For Taplow landlords, things are looking good, especially for those looking to buy rental property with the changes in stamp duty in 2014 and earlier in 2015 the new rules regarding pensions, where you will be able to take money out of your pension pot to invest in property. However, at the same time, I would say don’t just buy any old property in Taplow. First time landlords need to be cautious. The doubling of house prices every seven to ten years which has taken place since WW2 doesn’t seem to have been seen since the mid 2000’s. The property market is shifting with more properties being built and restrictions put on mortgage lending, the likelihood of the property market increasing at the same levels as the past are questionable.

For more thoughts and articles like this on the Taplow Property market, please visit the Taplow Property Blog

Taplow’s £151million Mortgage ticking Time-bomb?

I was having an interesting chat with some Taplow residents, when I popped into for a swift half of shandy at the Oak and Saw after my cricket training a few weeks ago. When they found out I was the author of the Taplow Property Blog, they wanted to know my thoughts on the current state of the Taplow’s property market.

With the Conservatives winning the General Election in May, this did release some pent up demand as people were holding back due to the political uncertainty of a potential hung parliament. However, with the result that ensued, confidence has returned and the signs are good in the area as a whole, as the underlying picture is likely to be one of decent yet modest recovery. This will be supported by favourable conditions in the Berkshire economy, though it will be limited by a reduction in the number properties coming up for sale, the new mortgage lending rules introduced just over a year ago and affordability pressures.

... and it was the mortgage lending that particularly interested one of the residents as he worked in Corporate Finance in Reading. He had read a report in the Sunday newspapers that according to the Council of Mortgage Lenders, the level of mortgage lending had soared to a seven year high in the UK and they were worried that people were mortgaging themselves to levels that they wouldn’t be able sustain when interest rates rose.

I was able to tell them that if you added up everyone’s mortgage in Taplow, it would total £151m (£151,063,604 to be exact). That is a huge amount of mortgage debt until you realise it is a drop in the ocean when compared to the total value of all the properties in Taplow.

The total combined value of all the

Properties in Taplow is £945,078,680  (ie £945 million)

Therefore, in Taplow, the level of mortgages as a whole is not an issue, as the level of mortgages only represents 15.9% of the total value.

If you want to pick my brain on any aspect of the Taplow property market, feel free to send me an email or pick up the phone. I am more than happy to give you an idea of the current value of your Taplow property be it for sale or rent, in today’s market, either over the phone or in person, at no charge or obligation to you as the property owner. 

Fairview Road, Taplow, Maidenhead - 4 Bed Semi - Would make a good investment?

Heading towards the Lent Rise Road area, this place is on the market with Roger Platt for £375K. Its quite unusual to get a 4 Bed semi for under £400K especially in the district of Taplow....! Therefore at a glance I would say this house is fairly priced. Being just half a mile or so from Taplow train station you will see some great capital growth over the next 3 to 5 years. 

As an investor or someone just looking to get a foot on the property ladder this may be worth following up with Roger Platt to get some more info.....

http://www.zoopla.co.uk/for-sale/details/38552371

Marsh Lane, Taplow, Maidenhead - 3 Bed Semi - Should get some interest!

Good morning, today we are heading over to Marsh Lane. This attractive 3 bed semi has just come on the market with Prospect for £480K.....I must be honest I think that price is optimistic, but given the way house prices are going up in the Taplow area it wouldn't surprise if the market catches before too long. I think this type of property lends it self to someone who is thinking of downsizing or possibly getting onto the property market......its just a question whether the current asking price would appeal to either of these groups.  

Take a look below for some more pics.....

http://www.zoopla.co.uk/for-sale/details/38284959

Taplow Property Values jump by 4.02% in 3 months

Well the latest results have been published by the Land Registry and they confirm that property values in Taplow are now 4.02% higher than they were 3 months ago. Interestingly, that leaves values in the village 11.6% higher than they were 12 months ago, meaning we are currently outperforming most of the London property market! The majority of property sales in Taplow during the last 12 months were flats/apartments, selling for an average price of £278,031, whilst terraced properties sold for an average of £482,781 with semi-detached properties fetching £382,248.

Looking at Taplow in greater detail, the village has bucked the national trend as more people own their own house now, compared to a decade ago. At the census before last, 37.9% of people in the village owned their property outright, whilst 40.4% owned their house with a mortgage. Roll the clock forward ten years and it shows 44.6% of you own your property outright and 30.8% own, albeit with a mortgage. Looking at the census, one can quite clearly see, Taplow is a village you move to, but once here, people don’t tend to leave. In fact, the number of people retired in the village has risen from 1 in 8 a decade ago (12.7% to exact) to less than 1 in 6 (17.1% to be exact).

However, for those of you who do want to move soon, I must stress homeowners still need to be realistic in their pricing. If you recall a couple of months ago, in the first newsletter, I stated 35.7% of properties that had come on the market in the previous 8 weeks (ie in April/May 2015) had found a buyer. In June/July, that figure has in fact slipped  to 24.4%, as only 11 of the 45 properties that have come on to the market in June and July (2015) have a buyer (at the time of writing). Remember something is only worth what someone  is prepared to pay for it!

Devonshire Gardens, Taplow - 3 Bed Semi Detached - Great Family Home!

Good evening! This place has just come on the market with Roger Platt for £465K - This stands out from the crowd because it is really nicely done out. This house was built in 2012 and new builds that are kitted out like this always gain interest from families looking to move into the area. This house was originally bought for £370K in April 2013.....so with that level of capital growth I don't think the investors will be turning their nose up at this place either...

For more pics take a look at the link below....

http://www.zoopla.co.uk/for-sale/details/38100155

Buffins, Taplow - 3 bed terraced - Investment opportunity in great location!

Good Morning! I just love this place....its in a great location just a minute or so walks from the village green. Its not very often you find "affordable" housing in such a great location within the village. Well within the catchment area of St. Nics school this place would be really attractive to tenants with a young family or anyone looking to get their foot on the property ladder in a great village! 

As an investment opportunity I think this would need some work to get a bit more of a modern feel about the place.....as I keep mentioning tenants these days do like the all mod cons....especially with some many other rental places on the market with all the bells and whistles. It last sold in Jan 2003 for just under £189K.....and its now on the market with Glenn Fegg and Co for £335K...I'll let you do the maths but looks a sound investment!

http://www.zoopla.co.uk/for-sale/details/38053368

Bath Road, Taplow, 10 Bed Detached - Substantial Family Home!

Well these places just don't hit the market very often! Its on with Roger Platt for £1.4m and for that you get quite a lot of bang for your buck! Set in 0.6 acres and still with real opportunity for further development this could be someones dream home very soon! As with all these one off places it is very difficult to benchmark in terms of the valuation.....all I can say is that it will get interest from our colleagues looking to relocate from London plus a host of investors that are eyeing up places with scope for further development!

Take a look at the link below for loads more info.....

http://www.zoopla.co.uk/for-sale/details/38041767

Hag Hill Rise, Taplow - 3 Bed Terrace - Worth a look!

Good evening! The Hag Hill area is starting to gain some interest from the investors....for this type of property you could expect a rental income in the region of £1,100 per month and at the asking price this would give a yield of 3.7% - As an investor you might want to try and do a bit of haggling on the price to get that yield up a bit more.

I think this place is well worth investigating....!

Its on the market with Glenn Fegg for £350K

http://www.zoopla.co.uk/for-sale/details/37965027

Mill Lane, Taplow, Maidenhead - 5 Bed Link Detached - Rare find for Taplow!

Evening everyone! Its not very often you see places like this come on the market in Taplow - the vendors have opted for a bit of the DIY online sales process and have got this advertised at £975K! Even the pro's have a job getting the price right with these one off type places but without a back garden just maybe people would expect a little bit more for this price.....more than happy to get proved wrong though! Whatever happens the village is just as popular as ever so a place like this well get some clicks on Zoopla and alikes!

Have a look at the link below for more pics and details!

http://www.zoopla.co.uk/for-sale/details/37743558

Maypole Road, Taplow - 3 Bed Semi - Some Updating Required....

Good morning Taplow Property Fans! 

I think this is what all the property programmes call on TV a "blank canvas"....yes this place needs some work but it really is cosmetic! I think this would be a really opportunity for any landlords and investors who are looking for a highly rentable property that would be snapped up in seconds. Yields would be in the region of 4% and with property prices in Taplow only going one way this looks like a good investment. 

All the analysis shows that although demand for rental properties is on the increase....in return though tenants expect high standards so don't scrimp on those modernisation tasks and they will be queuing up to get a look at this place.

Its on the market with Carson and Co for £350K....I wouldn't expect this would hang around though!

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

http://www.rightmove.co.uk/property-for-sale/property-35362335.html