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Maidenhead Area ?

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Hi to all first post here.

Would like to look for a bigger house next year (Growing family)

I see asking prices have dropped say 15% (ball park figure) since the peak in Maidenhead for houses.

Agents seem to be talking it up again with the usuall BS they aways give about lack of supply etc etc.

Ive seen houses up for sale for over a year in this town so sellers and would be buyers have a different opinion of value.

Unemployment is going up (and we have lost some quality jobs in the thames valley area) credit is hard to find, my wife still works (just) in finacial services so I hear some real stories off people being turned down.

Long term I can only see prices going down in this area as we see more forced sellers, or sellers getting real and lowering their prices.

Any opinions ?

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I've moved out of London and although I'm currently staying in Marlow, have had an offer accepted on a three bed, detached house in Maidenhead, nice road within walking distance to the station.

It's probably the worst house on a good road in as much as it's 1970s and needs renovation whereas the majority of the others are older with period features.

Problem I have is that I sold at what is currently the bottom of the market (accepting an offer in Feb that I completed on in April) and am still sure that the market as a whole WILL drop again next year. Obviously certain properties in certain areas will be affected more than others, but when there are no comparable houses in the road, it's so difficult to know what the current true market value of a property is.

I "know" what other offers were rejected on the property, and I've been led to believe it was on the market a few monthd ago before being taken off, but I can't find anything about it on Property Snake and I can't get Property Bee because I don't use Firefox.

I don't mind the prospect of the market dropping more next year, so long as what I'm paying for it NOW is fair. So bloody difficult as my last experience with estate agents has made me completely distrust them. I know, I'm amazed it took me that long too!

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Like2move: started looking yet?

Many of you (well, any of you who bother to read this!) will probably be glad to know I didn't buy the place I was looking at. Well, I certainly am.

Full survey showed up subsidence, vendor didn't agree. After a bit of haggling, he was going to pay for the structural engineer to assess the property, but seeing as there was a minimum figure he had in mind for the property, all this would have done is cost him another £1000 and changed his obligations when it came to sell in terms of making the buyer aware of the problem. He's an old chap (who I went and had tea with on a Sunday morning) and I had no desire to cause him any upset or unpleasantness so we agreed to disagree, shook hands and went our separate ways.

What I did learn was that the estate agent out-right lied about how long the property had been on the market (when the HIP turns up and it's dated 2008, it sort of gives the game away) and other "offers" that had been made on the property (there hadn't been any).

Needless to say, I AM now using Firefox and Property Bee and have a MUCH better idea of what's really been going on in the last 6 months.

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Until Like2move returns, I'll keep on talking to myself about Maidenhead!

House I previously mentioned (had offer accepted, survey showed subsidence, vendor wouldn't budge - unlike the house - so walked away) is now back under offer. Hope for buyer's sake they get a full survey done and go into this with their eyes wide open. Especially if house prices start to follow the flat prices south, which thanks to Property Bee has become really evident over the last month.

My favourite example of this is this flat.

11 October 2009 19:44:05

* Price found: £475,000

* Status found: Available

10 November 2009 17:56:12

* Price changed: from '£475,000' to 'Guide Price £415,000'

27 March 2010 11:37:31

* Price changed: from 'Guide Price £415,000' to 'Offers in Region of £365,000'

£110,000 drop in less than 6 months. Obviously this is an anomaly and more a sign of Hampton's overpricing than an actual shift in prices, but towards the lower-middle end of the flat market, as more and more are coming on, more and more long-marketed properties are dropping their prices. Now if only a few more houses would come on the market and do the same, I'd be happy. Unfortunately, there seem to be more of these: 82 Farm Road

House number found courtesy of Local Google, meaning previous sales found courtesy of houseprices.co.uk:

29/03/2007 £300,000 Semi 82, Farm Road, Maidenhead, Windsor And Maidenhead, SL6 5JF

18/08/2009 £245,000 Semi 82, Farm Road, Maidenhead, Windsor And Maidenhead, SL6 5JF

Re-wire, re-plaster, stick it back on the market 7 months later for an extra £90k.

*sigh*

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Hmmm, haven't spoken to myself in a while and actually came on to talk about something else, but seeing as I'm here, might as well give an update. Looks like 82 Farm Road achieved £322,500 in May last year. Tidy little return for a turnaround job there.

Hamptons' overpriced flat in Woodhurst South looks like it actually sold for £355,000 - proof that when places are priced more reasonably, they are more likely to shift.

But the reason I actually came back to talk to myself was 18 The Crescent, Maidenhead, SL6. I spotted this being marketed when I moved to Maidenhead in December 2009, but at £450,000 was more than I was ready to part with.

Was surprised when it showed up on the LR at £290,000 and after brief discussions with someone in the know, potential purchasers' surveys apparently kept showing up problems with possible movement (the crack in the arch above the door certainly seemed to suggest that) and it eventually sold to a builder.

Looks like the renovating is finished. Wonder if any underpinning was done? Assume this is something a vendor would have to declare if so? Either way, still a hell of a jump and potential profit. Shame as I'd happily have bought the place at £290k and set about spending the money on doing it up for me to live in. Oh well...

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Hi Guy, I grew up in Maidenhead and have spent my 20s living in London. Am getting a bit fed up of the poor quality of city life now and am thinking of moving back and teaching science in one of the schools there. This makes me a potential Maidenhead FTB I suppose, not that I could afford anything on a teacher's salary.

In 1996 my parents bought a 4 bedroom 1970s house a mile and a half from the station for £120k. These houses are now being marketed at around £400k.

Two of my friends from school bought new build flats at the Kingsgate development on the A4 near the river. Both are struggling to pay the huge mortgages and service charges.

Life is not good for Maidenhead 20somethings.

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Apologies for not replying sooner, Dorkins. Had got so used to being the only one in here that I had forgotten to even check whether anyone else was posting. But... HOORAY, I'm no longer talking to myself!

We didn't intend to end up in Maidenhead. I sold my flat in Central London in April 2009, walked off a hideous tv production a month later and instead of sticking around, once our three-month rent-back on the flat was up in August 09, escaped to my parents' place in Marlow. My missus was still commuting to London and having found I was dropping her there more often than Cookham or Bourne End (to take advantage of the quicker trains), we started looking at the area.

I went for a nosey at Kings Quarter in October 2009 (damn, is it really that long ago?!). Got into quite a heated discussion with the salesman in their marketing suite. I said I felt prices still had some way to fall. Being an old hand, he'd seen it all before and prices would continue to recover as they currently were and I was naive to think otherwise.

While that may have proved to be the case in Maidenhead generally, prices at KQ have dropped and dropped and dropped. This week they've lopped £40k off the price of a 2-bed flat to £300k. Still terribly overpriced obviously, but having seen the price of the houses slip slowly down and the parking situation on the development generally (with cars parked everywhere when there aren't supposed to be any), I feel a little sorry for anyone who bought into the development. Unlike those in the shared-ownership and modern-day council accommodation who seem to be doing quite well, thank you very much.

Been a weird couple of years in Maidenhead. Prices were on their **** in early 2009 and there were a number of places that went then at prices we'd have considered reasonable and would have suited us, had we been considering the area. Seen a lot of flipping in that time with most of those having found their way back onto the market with a new paint job and worryingly, they still seem to be selling. The problem with the town is that there is most definitely still plenty of money to chuck around and there is a very strong core of professional BTLers getting the heads-up from EAs on the best and negotiable deals. See my example above on The Crescent!

The general price trend is most definitely downward however and was pleasantly surprised when the EA that contacted me on Wednesday after a viewing on Tuesday seemed to imply that he was trying to manage a seller's expectations, even if he is fighting somewhat of a losing battle at the moment.

But welcome to the thread... now let's start managing EA's expectations together and try to avoid getting into a bidding war should anything suitable appear!

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9 High Town Road, SL6 1PA is a 3-bed terrace on the market for £350k and currently "under offer". Whilst it is undeniably beautifully done up inside and is a bedroom (and ensuite shower) bigger than most of the other terraced houses in that road, this is still a sizeable chunk more than the previous highest price paid in that road for a terrace £310k paid for #12 opposite in October 2007 which is also 3-bed.

Bear in mind that these houses share on-street permit parking which is already stretched (and abused by blue badge holders with its proximity to town) and that Michael Shanly Homes own what was previously the Castle Hill Youth & Community Centre site opposite and will surely at some point return to their plans to build a load more flats in its place. Probably when they've managed to get permission to demolishing two neighbouring bungalows in nearby East Road and replace them with 15 flats.

*sigh*

25 Lynton Green, SL6 6AN sold in May 2010 for £250k, but is now back on the market at £285k. It's clearly had some work done on it, but in a development that pre-crash had a ceiling price of £245k, it's all depressingly familiar.

*double sigh*

Am really struggling to see proof of anything that would support Halifax's assertion that average prices in Maidenhead were down 27.1% at the moment. Still, things could be a lot, LOT worse, as 5 minutes of news coverage is all it takes to remind you at the moment. So will go on counting my blessings instead. While occasionally grumping.

However as 18 The Crescent is no longer showing as "under offer" but available, that also helps!

Edited by Englaender

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