Tuesday, 19 January 2016

Aylesbury apartment in Hilda Wharf with higher than average yield

Aylesbury gross rental yields average around 4% to 5% although some of this is being eroded by the high prices in the sales market the high rental figures achievable seem to be making a strong effort to maintain this average. Therefore you could do worse than buy an apartment that is already at the higher end of that average especially if you prefer yield over capital growth. Rental around £750pcm asking price £169,950, gross yield 5.29%
I have owned a property here myself for some years and it has always worked well for me.


Hilda Wharf, Aylesbury, HP20 1RJ

 
 Hilda Wharf is situated just off the High Street in a most convenient location with both the town centre and railway station being within a short walk.  The Tesco supermarket on Tring Road is within easy walking distance of the property and the local bus route can also be found nearby.
This well planned first floor apartment is offered for sale with no upper chain making it an ideal first purchase or buy-to-let investment.  Internally the property offers good sized accommodation including a lounge with separate dining area, refitted kitchen, two bedrooms and bathroom.  Outside there are well maintained communal gardens and allocated parking for residents together with further spaces for visitors.
For fuller details http://www.rightmove.co.uk/property-for-sale/property-57407270.html
If you want to discuss the numbers or are looking for investments of a different type please give me a call 01296 398555 or pop in to see me
UPDATE 19/01/2016 Sorry this property is already under offer

Monday, 18 January 2016

Where will Aylesbury Property Prices be by 2021?


I was having lunch the other day at the Chequers Inn , Weston Turville, with a local Aylesbury solicitor friend of mine, when the subject of property inevitablity came up. He asked me my thoughts on the Aylesbury property market for the next five years.  Property prices are both a British national obsession and a key driver of the British consumer economy.  So what will happen next in the property market? Here is what I told him, and now share with you.
Before I can predict what will happen over the next five years to Aylesbury house prices, firstly I need to look at what has happened over the last five years.  One of the key drivers of the housing market and property values is unemployment (or lack of it). That drives confidence and wage growth – key factors to whether people buy their first house, existing homeowners move up the property ladder and even dictates whether buy to let landlords have an appetite to continue purchasing buy to let property.
When the Tory’s came to power in May 2010, the total number of people who were unemployed in town stood at 1,489 (or 2.6% of the working age population in Aylesbury parliamentary constituency). Last month, this had dropped to 610 people (or 1.0% of the working age population).
As the Aylesbury job market has improved with better job prospects, salaries are rising too, growing at their highest level since 2009, at 3.4% per year in the private sector (as recently reported by the ONS).  That is why, even with the turbulence of the last few years, property values in the Aylesbury area are 25.62% higher today than they were five years ago.
Many home occupiers have held back moving house over the past seven to eight years following the Credit Crunch but with the outlook more optimistic, I expect at least some to seize the opportunity to move home, releasing pent up demand as well as putting more stock onto the market. With a more stable economy in the town, this will, I believe, drive a slow but clearly defined five year wave of activity in home sales and continued house price growth in Aylesbury.

I forecast that the value of the average home in Aylesbury will increase by 22.2% by 2021.
22.2% might sound optimistic to some, but according to Land Registry, values are currently rising in Aylesbury at 8.1% year on year, I believe my forecast to be fair, reasonable and a reflection of both positive (and negative) aspects of the local property market and wider UK economy as whole.

However, it would not do not to mention those potential negative issues as I do have some slight concerns about the future of Aylesbury housing market.  The number of properties for sale in Aylesbury is lower than it was five years ago, restricting choice for buyers (yet the other side of the coin is that that keeps prices higher). Interest rates were being predicted to rise around Easter 2016, but now I think it will be nearer Christmas 2016 and finally the new buy to let taxation rules which are being introduced between 2017 and 2021 (although choosing the right sort of property / portfolio mix in Aylesbury will, I believe, mitigate those issues with the next taxation rules).
I am telling the landlords I speak to, that with interest rates at their current level 0.5%, the cash in your Building Society Passbook is going to grow so slowly that it might as well be kept under their bed. Property prices, by contrast, have rocketed over the years, even after the property crashes, far outstripping bank accounts and inflation.
So my final thought ...  property is a long term investment, it has its’ up and downs, but it has always outperformed, in the long term, most investments. Those in their 40’s and 50’s in Aylesbury would be mad not to include property in their long term financial calculations. Just make sure you buy the right property, at the price in the right location. One source of information on such matters would be the Aylesbury Property Blog ... http://theaylesburypropertyblog.blogspot.co.uk/
 
I think I have her attention

Friday, 15 January 2016

Aylesbury landlords...Something for the weekend

A great opportunity for landlords who do not mind doing a bit of work. Need to put in new kitchen, bathroom, carpets and decorate throughout. General tidying up throughout.


26 Palmer Avenue, Aylesbury HP19 8EF

This excellent and well proportioned two bedroom semi detached property is offered for sale with no upper chain and does require a degree of updating.  On the ground floor there is a good size lounge/dining room and a kitchen whilst on the first floor there are two good size double bedrooms and a bathroom.  A particular attractive feature of the property is the delightful rear garden which extends to approximately 50ft in depth and backs onto park land.
Full details available via Rightmove http://www.rightmove.co.uk/property-for-sale/property-57319505.html
If rented once updated you could expect around £900pcm giving a gross yield of around 4.5% and sensible opportunity for capital growth.
If you are considering a purchase to let in Aylesbury and want to give your figures a sanity check please give me a call 01296 398555. The archive pages of this blog are likely to answer many questions but please call me if you need something that is not available..
UPDATE 19/01/2016 Sorry this property is already under offer

Tuesday, 12 January 2016

A great buy for Aylesbury landlords with 5.2% gross yield.


55 Stoke Road, Aylesbury HP21 8BL


This superb three bedroom terraced Victorian home has recently been the subject of a comprehensive modernisation program and is now ready to move straight into.  The property benefits from gas fired central heating to radiators, refitted kitchen and bathroom, re-wiring and many other improvements.  On the ground floor the entrance hall leads to two good sized reception rooms and in addition there is a nicely refitted kitchen, utility area and bathroom.  On the first floor there are three good sized bedrooms.  Outside the property enjoys a pleasant low maintenance courtyard garden  to the rear.

Being close to the town offsets the lack of car parking on site so finding tenants who walk to work in town should not be an issue. Having just been refurbished initial and medium term maintenance should be at a minimum.
The rental market as we know remains strong and I would see this letting very readily at £900pcm or perhaps even a little more. At £900 the property offers a very respectable gross yield of 5.2%, higher than the Aylesbury average.
More details and pictures available via Rightmove http://www.rightmove.co.uk/property-for-sale/property-52631374.html or call the sales team on 01296 398555

OPEN HOUSE SATURDAY JANUARY 16TH 2PM - 3PM
Just turn up on the day, no appointment needed
55 Stoke Road, Aylesbury HP21 8BL
UPDATE 19/01/2016 Sorry this property is already under offer

What does 2016 have in store for the Aylesbury Property Market?


Aylesbury house prices up or Aylesbury house prices up a lot? ... and by how much? Those of you who read the Aylesbury Property Blog will know I am not the sort of person who pulls punches nor someone who ever fails to give a forthright and straight talking opinion – so here are my thoughts for the 19,022 Aylesbury homeowners and landlords.

The average Aylesbury property is 8.1% higher today than it was a year ago, but when you consider inflation is currently running at -0.1% (i.e. consumer/retail prices are dropping) and average salary growth is only around 2.5% pa, this is bad news for first time buyers. Property affordability continues to decrease (although I read in The Times that wage inflation (i.e. salary growth) is showing signs of weakening). I think highly paid high ranking civil servants and bankers are doing their level best to increase this average.
Some commentators have said the higher stamp duty taxes announced a few weeks ago in the Autumn Statement for buy to let landlords, concerns over first time buyer affordability and the outlook for UK interest rate rises in 2016 will really dampen the property market. I hope you all read my previous article about what the new stamp duty rule changes would REALLY mean for Aylesbury landlords in my blog, but I believe the real issue in the Aylesbury property market is the shortage of property to buy. People either worry there will be no suitable house to move to, or at least not one they can afford to upgrade to. However, on the supply side, Mr Osborne said in his Autumn Statement that he will change the planning laws to ensure the government meets the pledge made at the General Election (back in May) of 200,000 new homes a year.  All I can say is ... good luck George hitting those numbers!
Why? Because houses take years to build ... not months ... so George and his fabled house building aside, where does that leave us in Aylesbury in 2016?
Well, talking of supply ... whilst Mr Osborne builds his properties (a week doesn’t go by without him being filmed on a building site with a high viz jacket and hard hat building a house here and there!), let us look at the shortage of properties for sale. Back in July 2011, 1,006 properties were for sale in Aylesbury ... today that figure is 235. On the face of it, this means there is considerably less choice for Aylesbury buyers – but it also means a restricted supply of properties for sale and it keeps property prices high for Aylesbury house sellers.
Back in July 2011, the average property in Aylesbury took 92 days to find a buyer ... latest figures state this has dropped to 53 days, a drop of 43% in how long it takes to find a buyer. However, when you delve even deeper, the best performing type of property today in Aylesbury is the 3 bed, which only takes 45 days to find a buyer (on average) compared to the 4 bed, which takes 94 days. It just goes to show, even though the average has dropped since 2011, how varied that change has been!
However it is worth noting that these are average timescales and in our recent experience much of what is selling is doing so in just a few days…and often in excess of the original asking price.
What about all the tax regime and Stamp Duty changes? Well it seems to me that there is no agreement on the impact this will have on the market, ask ten pundits their opinion and guess what you get ten different opinions. Some will buy/sell now some will wait and see what happens…net result?...no impact.
So, back to the question everyone is asking...What will happen to property values in Aylesbury in 2016?  I suggest they will rise between 6.5% and 7.5% ... nothing out of the ordinary, but unless something cataclysmic happens in the world, 2016 will be like 2015! The property market pricing will be driven by a lack of supply rather than an increase in demand. The demand has remained fairly constant relative to supply over the last few years it is the lack of supply that has driven prices upward.
A pensive Nala before walking.
For more thoughts, opinions and views on the Aylesbury property market ... visit the Aylesbury Property Blog  http://theaylesburypropertyblog.blogspot.co.uk/  Or pop in and see me when you are passing our Temple Street office.

Thursday, 7 January 2016

A stunning house on Wendover Road, Weston Turville.

Being in the property business every now and again you see a house that ticks all your boxes. This house does that for me. A stunning large kitchen open to dining room, great for entertaining. Generous bedrooms and enough of them to use one as a study. Big enclosed garden for Nala the Husky to run around in. Good parking area for multiple vehicles, good location.

Picture 2


Picture 4Picture 5Picture 10Picture 18

Full details are available on Rightmove
http://www.rightmove.co.uk/property-for-sale/property-57077465.html
If it ticks your boxes you will need to contact the selling agents at Fine & Country not me.







Aylesbury Landlords could be fined £291,000 per year

“Who would want to move to Aylesbury in weather like this?” was what one landlord said to me as we shook hands outside his property, the other afternoon. It was windy, cold, dark, it had been raining most of the day and it was the last appointment of the day at 5.45pm. I will admit, as I had been out of the office all day, I was looking forward to getting home, putting the fire on, and watching telly with a big mug of tea… but this landlord lived in neighbouring Tring and this was the earliest he could do. 

It turned out he had been self-managing the property over the last few years, but was concerned with all the new legislation that had been introduced recently and that there was more to come. He was particularly concerned about the up and coming ‘Right to Rent’ legislation, so as his tenant had handed in their notice recently, on this new tenancy he called us for our opinion.
For those Aylesbury landlords that don’t know, landlords will need to check the immigration status of any new tenants moving into properties from February 2016 or face a £3,000 fine. It is called the 'Right to Rent' rules. However, tenants should also be aware that as well as traditional landlords, tenants who sub let rooms and homeowners who take in lodgers, must also check the right of prospective tenants to reside in the UK.
Our landlord from Tring wanted to know how much of a real issue was ‘Right to Rent’ in Aylesbury. I was able to tell him, the last available figures (from a couple of years ago) show that 97 people (whom were registered as Non-UK Born Short-term Residents) moved into private rented accommodation in the Aylesbury Vale District Council area in one year alone. If all of those people weren’t supposed to be in the UK, that would be a fine of £291,000 to the landlords of the town.
It doesn’t sound a lot when you think there are 71,977 residents in Aylesbury, and of those, 60,744 people (or 84.39%) were born in the UK. But Aylesbury is a cosmopolitan town as the country of birth of the residents in Aylesbury can be split down as follows:

·         UK                                                                          84.39%
·         Ireland                                                                     0.87%
·         Europe                                                                     4.50%
·         Africa                                                                       2.81%
·         Middle East and Asia                                            6.08%
·         Americas and Caribbean                                      1.10%
·         Australia and Pacific region                                 0.27%   

However, it must also be recognised that landlords, by checking up on tenants, could potentially be accused of discrimination under the Equality Act. This is a real minefield for landlords, especially when you consider that not all of the 3,239 Europeans in the area necessarily have the right to live in the UK either. 
In a nutshell, Aylesbury landlords will need to check and retain copies of certain documents that show a potential tenant has the right to live in the UK. These include ...
·         UK Passport
·         EEA Passport/Identity card
·         Travel document or Permanent Residence Card showing indefinite leave to remain
·         Paperwork from Home Office stating their Immigration status
·         Certificate of registration or naturalisation as a British citizen. 

The new law will target dishonest landlords who repeatedly fail to carry out Right to Rent checks by making it a criminal offence. This means they could face imprisonment for failing to check on their tenants. That is why more and more landlords are asking agents to manage their properties, so they can stay the right side of the law.
So what did our landlord do?
Well after our chat, he asked us to find a tenant and manage the property for him - he had been reading the Aylesbury Property Blog for a while and because of the knowledge we impart to the landlords of Aylesbury, we obviously know what we are talking about.  Even better news for him, though this would cost him agency fees, we were able to get him a higher rent per month for his property.
To keep in touch with the Aylesbury property market sign up to this blog and stay informed at http://theaylesburypropertyblog.blogspot.co.uk/ .
 
Nala enjoying the sights from Coombe Hill
 

Thursday, 31 December 2015

Will the young people of Aylesbury ever own their own home?


I had the most interesting chat with a couple from Bedgrove the other day, whilst viewing one of our rental properties. The property was not for them, but their son, who wanted a second viewing with his parents to get the parental blessing. Now I know that is not the norm, but in this case the parents were going to act as guarantor. We got to discussing the Aylesbury property market and how they had bought their first property in the town just after they got married in the late 1980’s when they were in their early/mid 20’s. Anyway, we got chatting about how the youngsters of the UK seem to rent more than buy nowadays and from that the conversation covered a number of similar topics. I want to share the main thread of that conversation with you today.
Their son, like many 20 to 30 year olds in Aylesbury, desperately wants to own his own property and the parents said he had read in the Telegraph recently, when you compare house prices to earnings, the current 20 to 30 something’s generation have to spend more of their salary in mortgage payments than any previous generation. The demand for private rental sector accommodation in Aylesbury is huge. There are in fact 4701 private rental properties in Aylesbury at the last count, impressive when you consider there are 1,254 council houses in the town. However, let us not forget 19,022 properties are owner occupied (11,918 with a mortgage).
Let us all be honest, private renting doesn’t have the stigma it had a few decades ago and it might surprise people that even though us Brit’s class ourselves as a nation of homeowners, roll the clock back 100 years and over 75% of people rented their own home (and it was all from private landlords as council housing only started to come in with the ‘homes for hero’s’ after the first World War). It might also surprise you to learn that at the time of the 1971 census, still more people rented than owned their own home.
Looking at the affordability issue, it is in fact cheaper to buy a property than rent, when one looks at starter homes for first time buyers. 95% mortgages have been available to first time buyers for over four years and whilst you could certainly find better properties in better condition in better areas, terraced houses can be bought for as little as the mid £130,000’s (meaning a modest deposit of £6,500 would be required).
When it came to affordability, I was able to tell them that when they bought their first house in Aylesbury in 1988, the ratio of house prices to salary was 7.54 to 1 in Aylesbury ... and here was the surprise for both of us, today’s ratio is only 6.53 to 1!
I said I believed there had been a cultural attitude change towards renting property in Britain and that this quiet revolution was likely to be permanent. In the 60’s, 70’s and 80’s, saving for the deposit was everything and buying a house was everything. I am sure many of you like me can remember the sacrifices made to ensure I saved a deposit as quickly as possible. Youngsters today have far much more disposable income than people had in the Callaghan and Thatcher years. But choose to spend it upgrading their mobile phones every 12 months, treating themselves to the newest tablet or PC, a new 50” plasma LCD TV and two sun drenched holidays a year, rather than go without and save for a deposit. It is just not as important now as it was then, attitudes to renting have changed.
Yes, there are horror stories of tenants living in rat infested properties with landlords who charge massive rents and don’t repair their properties. But that is very much the exception as most tenants rent homes of a quality they could not ever to afford to buy. Twenty years ago, if you said you rented a property, you were considered the lowest of the low ... but now it is the new normal.
So with mortgage affordability being well within the bounds of most first time buyers, the level of deposit required for a 95% being surprisingly modest (starting off at c.£6,500 in Aylesbury as mentioned above) until we change our attitudes, the UK housing market is slowly but surely turning into a more European model, where people rent for long periods of their life, then eventually inherit their parents properties and subsequently become homeowners themselves, albeit later in life.
I cannot see the demand for good, high quality rental properties dropping in the next 10 to 20 years, but only ever increasing as the population continues to soar. Just make sure if you are becoming a landlord for the first time that you buy the right property, at the right price, in the right location. One source of information on such matters would be the Aylesbury Property Blog http://theaylesburypropertyblog.blogspot.co.uk/ or pop in and have a chat with me when you are passing my office in Temple Street. ian@mortimersaylesbury.co.uk
 
Nala and the Mortimers team wish you a Happy and Prosperous 2016

Tuesday, 15 December 2015

Has 2015 been a good year for Aylesbury landlords?

This is a question I have been asked often over the last few weeks by landlords.

I think most of you will give a resounding yes to this question!
Substantial property value increases have given good capital growth to most landlords, by tens of thousands of pounds in many cases.
 Improved income through increased rents and reduced void periods has benefitted most.
Further, many landlords have been able to reduce costs by re mortgaging and taking advantage of the many low fixed rates available in the mortgage market, protecting their cost base for the future against an impending rate rise.
Some landlords have taken advantage of the above positive factors and added to their portfolio through 2015.
However there are a few clouds on the horizon. Extra Stamp Duty for second home purchases, changes to tax relief for buy to let landlords, extra costs for landlords to meet the raft of new and pending legislation.
Many of these factors are not news… we are all aware and they have been much reported in the media. But what we are not sure of is the impact they will have on the market.

Miles Shipside Rightmove Director ‘this is December’s best post-financial crash performance, signalling another round of price rises in 2016. Despite the shortage of suitable stock in many parts of the market, demand for housing is on the up. Although the average price of property coming to the market is already up by a hefty 7.4% compared to a year ago, Rightmove forecasts that prices will reach and breach new records next year’.
Rightmove’s 2016 forecast is for new seller prices to rise by 6%.
Will there be an assault on the market from landlords trying to buy before the new Stamp Duty regime applies in April?
Will first time buyers hold back from buying until after April in the hope prices will reduce once the new Stamp Duty puts landlords at a financial disadvantage and the competition for stock is reduced?
Will there be a rush of landlords through 2016 trying to sell and reduce their gearing in light of pending tax changes? Will this new stock be in sufficient volume to drive down prices as supply outstrips demand?
Will America put up interest rates and will we follow? Or will Janet Yellen back off at the last minute as previously?
I imagine we each have our own views. What we do about it will depend on our own prevailing circumstances and financial situation…I would love to hear from you with your opinions.
Some landlords I have spoken to recently have some interesting thoughts. One landlord intends to invest money into his existing portfolio by moving kitchens into the lounge and where possible turn the kitchen in to a bedroom making one bedroom units into two bedroom units and enhancing the rent (reflecting many of the new builds/conversions that have a similar layout).
Another is remortgaging his whole portfolio to fixed rate schemes with a view to driving his expenses down to offset any increase in his tax bill.
Interestingly I have not spoken to any landlord that intends to sell his portfolio, after all most of us bought a buy to let for the long haul…either to help our retirement income in years to come or in many cases to help  our children when the time comes.
Whatever your view as always it is essential to buy right. There are very few bargains to be had but buying a property that will let well and have a good chance of sensible value growth is essential. There are many new flats on the market and many more waiting to come to market, all at high prices. Whilst these will let well I struggle to see the option for capital growth being as good as a freehold house where supply is much more limited.
As always the Aylesbury Property Blog will keep you touch with market trends, http://theaylesburypropertyblog.blogspot.co.uk/   or pop in to see me in my Temple Street office when you are passing. Enjoy the festive season.

Please feel free to comment below.
 

Tuesday, 8 December 2015

The Aylesbury Property Market and £1,300,000,000,000,000,000 in loose change

The 5th of March 2009 was the date Mervyn King, the then Bank of England Governor, slashed UK interest rates to the unparalleled figure of 0.5%. In just under five months, starting on 8th October 2008, the rate had come down from 4.5% to that low figure, all in an attempt to ensure the British economy survived the worldwide credit crunch. Now as we deck the halls with bows of holly nobody expected that, over six years later, rates would still be at that low level.

In the summer, people were predicting a rise in the New Year, yet now, some forecast it may remain the same for years to come due to the issues in China. Now, I am not some City Whiz kid with a hotline to Mr Carney at Threadneedle Street, but merely a humble letting agent from Aylesbury, so I cannot profess to know what will happen to interest rates. However, what I do know, speaking to my Aylesbury friends and Aylesbury landlords is that these low interest rates have hit savers really hard.
If you added up everyone’s bank and building society savings in the UK, they would add up to £1,300,000,000,000,000,000 (that’s £1.3 trillion), most of which is earning a pittance in interest.  That is why more and more 40 and 50 year old Aylesbury landlords have been investing some of that cash into Aylesbury bricks and mortar, as they search for a low risk investment opportunity.
Buying an Aylesbury buy to let property is not risk free, but there are certainly things you can do to mitigate and lower exposure to risk. Buying a rental property potentially offers an enigmatically decent proposition in terms of being able to obtain attractive returns that beat inflation and savings accounts, yet without taking the levels of risk associated with stock markets.
The UK residential property market has long been the safest form of collateral for lenders of all varieties. Against a backdrop of a greatly changing economic environment, Aylesbury house prices have been extraordinarily robust, increasing by over 2148% between 1974 and today. Some will say there have been significant property price falls, namely in 1975, 1988 and 2008, yet each time this has been followed by an upturn in property values. For the record, the stock markets in the same time frame only rose by 432.5%!
... and that is the best thing about buy to let property. Unlike the stock market, with its unfathomable equities, shares and bonds, that nobody really understands (apart from some faceless whizzkids in Canary Wharf!) with a buy to let property, landlords can take control and understand their investment .. in fact you can touch and feel the bricks and mortar investment.
...  but before you go out and buy any old Aylesbury property, plenty of landlords still get it wrong. You have to be aware of your legal responsibilities when it comes to tenant safety, tenants deposits, energy certificates and in the new year, landlords will have the added responsibility of checking the immigration status of prospective tenants. Get it wrong and big fines and even prison is an option – but that is why many agents use a letting agent to manage their property for them. Even then you need to be careful with your choice of agent!
Next, you have to buy the right property at the right price. Recently I have seen some situations in Aylesbury and the immediate area, where people pay way too much for a property, only to lose out when they come to sell.
I cannot stress enough the importance of doing your homework. One source of information and advice is the Aylesbury Property Blog where I have similar articles to this about the Aylesbury property market. If you have not visited and you are interested in the local property market in Aylesbury ... you are missing out! .. http://theaylesburypropertyblog.blogspot.co.uk/

Nala waiting for dad to come home and play with her new toy.

Friday, 4 December 2015

The Aylesbury market in 2015

Many landlords have been asking me my thoughts on the Aylesbury property market recently, and in particular, what is happening to property values. Property values in Aylesbury grew in the month of September by 0.4%. When one looks at the annual growth, Aylesbury values are 8.4% higher (when comparing Sept 14 to Sept 15).  However, there are signs that the fundamental growth of property values in Aylesbury has now peaked, despite those average property values being above levels recorded in 2007 (just before the 2008 crash).

Even though prices are higher this month, this impressive rise of Aylesbury property values masks the underlying truth in what is really happening to local property values in the town. Throughout 2015, property values have been yo-yo like on a month by month basis, being quite volatile in nature.  For example,
·         September 2015               0.4% rise

·         August 2015                       1.4% rise

·         July 2015                              1.3% rise

·         June 2015                            0.9% rise

·         May 2015                             0.2% rise
This is in part due to seasonal factors, as well as mortgage approvals increasing over June and July and then falling by over 15% in August, according to the Council of Mortgage Lenders (CML).

The outlook for the Aylesbury property market remains positive against the foundations of low mortgage rates and growing consumer confidence. Aylesbury property values are still running ahead of salaries and average property values are 13.2% above the levels recorded in 2007.
Talking to fellow property professionals in the town, demand for property has been showing signs of moderating in the final few months of 2015, which in turn will lead to a slight slowdown in the pace of house price growth in the run up to the festive season. You see, it is really important not to read too much into one month’s (September’s) headline figures.
Readers might be interested to note that before the 2008 property crash, all the UK region’s housing markets tended to move up and down in tandem like the Aylesbury Synchronised Swimming team.  Since then though, the Greater London property market took off like a rocket in 2009/10, whilst the rest of the UK only really started to grow in 2012/13, and even then that growth was a lot more modest than the Capital’s.
Looking closer to home, it can even be different in neighbouring towns, areas and cities, so whilst Aylesbury property values are 8.4% higher than a year ago (as mentioned above), Milton Keynes property values are 9.1% higher than a year ago.
If you are considering buying to let in the area I cannot stress enough the importance of doing your homework.  One source of information and advice is the Aylesbury Property Blog where I have similar articles to this about the Aylesbury property market and what I consider.  If you have not visited and you are interested in the local property market in Aylesbury….. you are missing out! http://theaylesburypropertyblog.blogspot.co.uk/