Wed, 07 Sep 2022 | Maidenhead market update
August is traditionally the quietest month of the year for the property market, with the kids off of school and many families jetting off on summer holidays. Not this year, though!
In a break from tradition, Maidenhead buyers continued to register with us in high numbers last month, showing that they are as yet undeterred by cost of living increases and affordability constraints. Read on to find out more about the Maidenhead property market in August.
Prospect achieved an average of 98.2% of asking price for properties last month
In August, we sold 10 properties. Half of these properties had been listed in the same month, showing just how fast the property market is moving in the area. With demand so high, there are not enough properties coming to market each month to satisfy the high number of buyers registering with us.
It’s no surprise, then, that this high competition has caused prices to soar. Last month, we achieved an average of 98.2% of asking price for the properties we sold!
Which properties are in the highest demand?
In August, two and three bedroom properties were the most popular, making up 73% of the properties sold around Maidenhead. 80% of the buyers registering with us last month were searching for properties of this size, driving up the competition for homes like these in the area. In fact, we sold one two bedroom riverside apartment in The Picturehouse for 108% of asking price after just a couple of days of marketing!
With this in mind, if you have a two or three bedroom property in the area, now is a great time to sell to take advantage of the high competition for properties like yours. Since the arrival of the Elizabeth Line, more and more first time buyers are moving to Maidenhead to enjoy easy access to London without the London price tag. Could your property be exactly what they are looking for?
High end homes in the Maidenhead area
Covering Maidenhead, Taplow, Cookham and Windsor, it’s no surprise that the Maidenhead property market is home to some of the most luxurious properties in the home counties. Last month, 10 beautiful homes priced at over £1,000,000 were sold in the area, with the most expensive being a truly showstopping five bedroom home on Cliveden Road in Taplow, priced at £3,950,000.
If you are looking for a home like this one, there are currently over 100 properties of a similar calibre available in Maidenhead and surrounding areas. In fact, we listed a beautiful four bedroom home on Walgrove Gardens in White Waltham last month with Prospect Homes of Distinction – our branch for luxury homes in the home counties. Discover this high end home and other premium properties by clicking here.
Investment opportunities
Maidenhead has always been a hotspot for investment opportunities, and since Crossrail arrived in stations, this has only become more prevalent. With its excellent links to London, the town is attracting more and more young professionals and commuters looking to rent a property in the area.
Excluding retirement properties and shared ownership schemes, the least expensive property to sell last month was a one bedroom apartment on Stonefield Park listed at £185,000. Situated within a mile of Maidenhead town centre and train station, this property would have made the ideal investment for anyone landlord looking to expand their portfolio in the area.
If you are looking to purchase a buy to let property in Maidenhead, there are over 70 properties for sale for under £250,000 that would make a fantastic addition to your portfolio. Contact your local experts at Prospect Maidenhead to discuss investment opportunities in Maidenhead further.
Are you ready to make a move in Maidenhead? Book a valuation today to take advantage of the high competition in the area. If you don’t need help with your sale, don’t forget to register with us to be the first to find out about homes that you’ll love in and around Maidenhead.
If you wish to discuss the property market further with your local expert, do not hesitate to contact us on 01628 397 608.