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.
