Tue, 09 Aug 2022 | Maidenhead market update
It’s great news for buyers in Maidenhead and surrounding areas, as more properties came to market in July compared with June. But is it enough to satisfy huge demand for properties in the area? Read on to find out.
Three and four bed properties saw the biggest growth spurt
Luckily for family buyers, the properties that saw the biggest increase in listings last month were three and four bedroom properties. These made up over half of the properties listed in July, but with 70% of buyers registered with us searching for homes of this size, is there enough to go around?
Judging by the speed in which properties of this size are selling, the answer is no. One in four of the three bedroom properties and four bedroom properties listed last month have already sold, showing just how quickly these homes are getting swiped up in the area.
Prospect Maidenhead are managing these levels of demand with our highly successful open houses. Last month, we held an open house at a four bedroom property on Loosen Drive in Maidenhead, which successfully brought in 11 offers and achieved 108% of asking price for our sellers! Another open house held at a three bedroom property on Larchfield Road received six offers and achieved 106% of asking price for the property, showing how effective Prospect open houses are at driving up demand and managing competition in such a busy market place for family homes.
Do you have a three or four bedroom property in Maidenhead to sell? Book a valuation with the Maidenhead team today to find out how much we could achieve for your property at one of our open houses.
School application deadline is looming
Though properties are certainly selling fast in Maidenhead and surrounding areas, unfortunately completion times are not so quick. An industry-wide conveyancing lock-jam puts the average completion time at 150 days, which means that it’s becoming more and more difficult for buyers to get into their new home before January. School applications close in January, so if you were relying on a relocation to get into your school of choice, you’ll need to act soon to secure your new home in time. This means getting your current property on the market as soon as possible so you can move forward as a proceedable buyer when it comes to finding your new home.
A touch of luxury
The Maidenhead property market covers Maidenhead, Windsor, and Cookham, so naturally it’s home to a number of high end homes! The most expensive properties to sell last month were both priced at £3,500,000 and each exuded luxury. One was a six bedroom residence on Langworthy Lane in Holyport, which boasted gardens approaching 1.6 acres, a heated swimming pool, and a three bay garage. The other was a seven bedroom country period family home on Popes Lane in Cookham Dean, built in 1905 and with landscaped grounds of around 1.15 acres.
These were just two of the eight properties priced at over £1,000,000 that sold last month - many of which sold in under four weeks, which is no small feat for properties of this calibre! For those looking for a luxury property in the area, there’s still a wide range of homes available, including a Grade II listed five bedroom home on Howe Lane listed with our luxury branch, Prospect Homes of Distinction. Click here for more details on the property.
A hotspot for investment
Maidenhead has always been a hotspot for investment due to its fantastic links to London, and this has only been heightened by the arrival of the Elizabeth Line in May. With over 60 tenants registered with us for properties in the area, it’s a great time to invest before Crossrail drives up prices in Maidenhead any further. In fact, the cheapest property to sell last month - a one bedroom first floor flat on St Mary’s Close, priced at £180,000 – would have made an excellent investment property due to its town centre location and extended lease.
There are over 25 properties under £200,000 on the market right now – could one be your next investment property? 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.