Wednesday, 22 November 2017

Fancy a game of Buy-To-Let Monopoly in The Milton Keynes Property Market?



As the nights draw in, if there is nothing on TV, a lot of families like to huddle around and play the board game Monopoly, my family included. The buying and renting of property is like a busman’s holiday for me! Interestingly, the game was originally invented at the turn of the 20th Century (in 1903) and the game was initially called ‘The Landlord’s Game’! Anyway, after a few years in the wilderness, the current owners of the game renamed it in 1935 and so began Monopoly as we know it today.

Regardless if you are a homeowner or landlord in Milton Keynes, what would a Monopoly board look like today in the town? Property prices over the last 80 years have certainly increased beyond all recognition (not to mention the physical landscape which has of course changed beyond all recognition from the arable farmland that used to be seen for many miles around), so looking at the original board I have substituted some of the original streets with the most expensive and least expensive locations in Milton Keynes today.

Initially, I have focused on the MK2 postcode only, looking at the Brown Squares on the board, the ‘new’ Old Kent Road in Milton Keynes today would be Serpentine Court, with an average value £71,020 (per property) and Whitechapel Road would be Garrowmore Grove, which would be worth £113,200. What about the posh dark blue squares of Park Lane and Mayfair? Again, looking at MK2, Park Lane would be Manor Road at £309,200 and Mayfair would be Mill Road at £324,900. However, look a little further afield from the MK2 postcode, and such roads as Woodside in Aspley Guise would claim the Mayfair card at £1,130,000! Also, I can’t forget the train stations (my favourite squares), and over the last 12 months, the average price that property within a quarter mile of Central Milton Keynes station was £264,800 or 6% higher than those located in the next game square.

So that got me thinking what you would have had to have paid for a property in Milton Keynes back in 1935, when the game originally came out?

- The average Milton Keynes detached house today is worth £453,900 would have set you back 760 Pounds 8 shillings and 7 old pence.

- The average Milton Keynes semi-detached house today is worth £248,600 would have set you back 416 Pounds 9 shillings and 3 old pence.

- The average Milton Keynes terraced / town house today is worth £217,300 would have set you back 364 Pounds and 2 shillings.

- The average Milton Keynes apartment today is worth £165,300 would have set you back 276 Pounds 18 shillings and 3 old pence.

If that sounds like another currency, you must be in your 20’s or 30’s, because it was back in February 1971, that Britain went decimal and hundreds of years of everyday currency was turned into history overnight. On 14th of February of that year, there were 12 pennies to the shilling and 20 shillings to the pound. The following day all that was history and the pound was made up of 100 new pence.

I hope you enjoyed this bit of fun, but underlying all this is one important fact. Property investing is a long game, which has seen impressive rises over the last 80 years. In my previous articles, I have talked about what is happening on a month by month or year by year basis and if you are going to invest in the Milton Keynes property market, you should consider the property you buy a medium to long term investment, because Buy-To-Let is pretty much what it says on the label – you buy a property in order to let it out to tenants.


When you become a landlord, you are in essence running a small business – one with important legal responsibilities. On that note, I want to remind landlords of the recent and future changes in legislation and taxation when it comes to buy to let. Failure to adhere to them will mean a minimum of heavy fines in the thousands or in some cases, prison ... it’s a mine field! That’s why I write the Milton Keynes Property Blog, where it has an extensive library of articles like this one, where I talk about what is happening in the Milton Keynes property market, what to buy (and sometimes not) in the local area and everything else that is important to know as a landlord.

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Milton Keynes Property Market together with regular postings on what I consider the best buy to let deals in Milton Keynes, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch! Email me at danielle@inspiredagents.co.uk

If you are in the area feel free to pop into the office we are based at 181 Queensway, Bletchley, MK2 2DZ -the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Milton Keynes Property News.

Blog – https://miltonkeynespropertyblog.blogspot.com/

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Wednesday, 8 November 2017

9 ESSENTIAL TIPS FOR A PRE-CHRISTMAS SALE IN MILTON KEYNES

Buyers see the festive period as a key-influencing factor, with many people determined to move in time for the big day so give your property the best chance with this advice.
We all dream of putting a property up for sale, accepting an offer and moving out in quick succession but the reality is that if you want to do things properly then it takes time. Buyers see Christmas as a key-influencing factor, with many people determined to move in time for the big day so give your property the best chance with this advice and you could be hanging up the decorations in your new pad just in time for Santa’s arrival.
1.    The more flexible you are about visits, the more people will be able to see your home. Be ready for visitors early in the morning, at night and on weekends.

2.    There are a number of agents to use to search around and find the right one for you. These are the people who are ultimately going to sell your home and answer those tricky questions so make sure you trust them.

3.    You may decide to renovate your house to sell so bear in mind that neutral colours are always best and kitchens and bathrooms are the most important rooms to prospective homebuyers. These rooms should not look like they need major renovations.

4.    Give your property a little refresh. After location, good light is the one thing that most buyers want. Clean the windows, open your curtains, increase the wattage of your light bulbs and cut the outside bushes to let light in. Whatever you can do to make your property seem brighter and cheerier will make it more sellable.

5.    Complete any DIY tasks. As they inspect the house, a buyer wants to see that everything works, including doors, locks, draws in kitchens and bathrooms, toilets, sinks, and lights. If a buyer can see minor mistakes, it will alert them to think about the damage that they cannot see.

6.    Make sure potential buyers can envision their family in the house so take down anything that largely relates to your family life, religion or political stance.

7.    If your home is priced too low, you’ll miss out on some money but if it’s too high, you won’t get as many offers. While you might be tempted to start with a high listing price to see what happens, overpricing can be a bad strategy. If a house has been on the market for a long time, people will assume that it hasn’t sold because something is wrong with it.

8.    Make sure that you have completed all the necessary legal work and are ready to go. There is no point pushing the sale of your house if you haven’t even started looking at properties and have nowhere to go.

9.    Moving takes time so consider packing up large furniture items in advance. If you’re considering getting in the professionals it is wise to book way in advance as you won’t be the only person looking to move before Christmas.

If you are looking to move before the big day, get in touch and one of our experts will be more than happy to help.
If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Milton Keynes Property Market together with regular postings on what I consider the best buy to let deals in Milton Keynes, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch! Email me at danielle@inspiredagents.co.uk
If you are in the area feel free to pop into the office we are based at 181 Queensway, Bletchley, MK2 2DZ -the kettle is always on.
Don’t forget to visit the links below to view back dated deals and Milton Keynes Property News.