Landlord Login
Maidstone: 01622 671878   |   Medway: 01634 828283   like us on facebook   follow us on twitter   property videos on youtube
telephone us
like us on facebook
Instant Valuation Instant Valuation

Property Search


As our families grow bigger the need for more space, be that bedrooms or reception rooms, has grown with it. Also, as our older generation lives longer and nursing home bills continue to rise quicker than a rocket on the 5th of November (the average nursing home bill in the area being £706 per week) many families are bringing two households into one larger one.


So, should you move somewhere larger, or extend your Maidstone property to make it large enough for you and your family? In some circumstances the choice has been made for you. If you live in an apartment with no garden, there isn’t much of an opportunity of making it larger. But if you have a house with a garden or an attic with sufficient headroom, extending your home becomes a real prospect.


Even if it makes more sense to extend or move, the choice hangs on a number of different dynamics – your future plans, money (both saved and access to finance), in what way you are emotionally attached to your home, the particular area of Maidstone you live in and finally, the type/style of house you prefer.


Interestingly, the average British home is 968 sq.ft, which as you can see from the table, is in the middle of developed nations when it comes to the size of a property. Of the 1.11m homes sold in 2016 in England and Wales, the average floor area of the houses was 1,119 sq.ft – that’s about an eighth the size of an Olympic sized swimming pool. Apartments averaged 530 sq.ft that’s just over ten times bigger than an average garden shed. Looking at apartments and houses together, the average size of properties sold in England and Wales 968 sq.ft – are slightly smaller than the European average, and much smaller than households in the US.


So back to the question in hand.. extending does mean you will have a lot of inconvenience whilst the work is being carried out. The location of your Maidstone property, the quality of construction, what type of room(s) you want to add, your plot, neighbouring building lines, planning regulations and the overall demand for your type of Maidstone home, will make a vast difference to the financial repercussions of extending versus moving.


A medium-sized 270 sq.ft single storey extension (say around 17ft x 16ft) will add on average £73,525 to the value of a property in Maidstone


It’s important to note the end result of the extension needs to be a sensible and realistic home. A two bed semi-detached house extended to a four bedrooms with no lawn or driveway, or a home with outsized reception rooms downstairs and miniscule bedrooms upstairs, could be problematic if and when you come to sell your home in the future. Irrespective of whether your strategy is to live in your extended home for a long time, you will want to side-step outlaying a lot of money on costly building work that will make it tougher to sell.


In terms of what it would cost to build an extension, you can expect to pay on average between £140 to £200 per sq.ft, depending whether the extension is a single or double storey extension and other factors including finish and type of extension (note – I have seen it cost a lot more than these figures – so please speak with a builder) … So taking a mid line figure, that same 270 sq.ft extension on your Maidstone home would cost on average £55,080.


However, moving means there are substantial costs incurred - Estate Agency fees, Removal Van, Survey Fees, Legal fees and Stamp Duty on the property you are buying. Neither option is the obvious choice and comparing the costs of extending your Maidstone home to that of moving is not a stress-free undertaking.


How realistic each option is will probably come down to one thing .. your mortgage provider. You will need a considerable sum of equity in your Maidstone home before you can think of increasing your mortgage more, because most lenders will require you to have at least 10% to 20% equity left in your property after the extension or move has been done.


The best advice I can give .. don’t assume anything …. get advice and opinion from builders, mortgage brokers, architects, mortgage people and of course… an agent. Look at your options and make an educated decision with all the superficial and objective facts in front of you.


Looking at the newspapers between Christmas and New Year, it seemed that this year’s sport in the column inches was to predict the future of the British housing market. So to go along with that these are my thoughts on the Maidstone property market.

With the average 5-year fixed rate mortgage at 1.98% (down from 3.47% in 2014) and 2-year fixed rate at 1.47% (down from 2.37% in 2014), mortgage interest rates offered by lenders are at an all-time low (even with the slight increase on the Bank of England base rate a few months ago). Added to this, there has been a low unemployment rate of 4% in Maidstone, which has contributed to maintain a decent level demand for property in Maidstone in 2017 (interestingly – an impressive 2,204 Maidstone properties were sold in last 12 months), whilst finally, the number of properties for sale in the town has remained limited, thus providing support for Maidstone house prices, meaning ….


Maidstone Property Values are 5.9% higher than a year ago


However, moving into 2018, there will be greater pressures on people’s incomes as inflation starts to eat into real wage packet growth, which will wield a snowballing strain on consumer confidence. Interestingly though, information from the website Rightmove suggested over a third of property it had on its books in October and November had their asking prices reduced, the highest percentage of asking price reductions in the same time frame, over five years. Still, a lot of that could have been house-sellers being overly optimistic with their initial pricing.


In terms of what will happen to Maidstone property values in the next 12 months, a lot will be contingent on the type of Brexit we have and the impact on the whole of the UK economy. A lot of people will talk about the Central London property market in the coming year, and if the banking and finance sectors are negatively affected with a poor Brexit deal, then the London market is likely to see more of an impact.


Nevertheless, the bottom line is Maidstone homeowners and Maidstone landlords should be aware of what happens in the rollercoaster housing market of Central London, but not panic if prices do drop suddenly there in 2018. Over the

last 8 years, the Central London property market has been in a world of its own (Central London house prices have grown by 89.6% in those last 8 years, whilst in Maidstone, they have only risen by 48.1%). So we might see a heavy correction in the Capital, whilst more locally, something a little more subdued.


Hindsight is always better than foresight and predicting anything economic is all well and good when you know what is around the corner. At least we have the Brexit divorce settlement sorted and, as the UK economy and the UK housing market are intertwined, it all depends on how we deal as a Country with the Brexit issue. However, we have been through the global financial crisis reasonably intact ... I am sure we can get through this together as well?


Oh, and house prices in Maidstone over the next 12 months? I believe they will end up between 0.2% lower and 1.5% higher, although it will probably be a bumpy ride to get to those sorts of figures.


If you would like to read more articles on my thoughts on the Maidstone property Market – please visit the Maidstone Property Market Blog



Stockbrokers -Jeffries said Purple Bricks sales are just over 51 % of instructions. Purple Bricks state their figures are 78% .
Jeffries called selling with purple Bricks is a" £1000 coin toss”. This is because they charge up front and not on results like traditional high street agents. You pay whether you have sold or not !
Seekers sales are 90 % of instructions and you pay on results !

My research shows that certain types of Maidstone property are more affordable today than before the 2007 credit crunch.


Roll the clock back to 2007 just before the credit crunch hit which saw Maidstone property values plummet like a lead balloon and the Maidstone property market had reached a peak with the prices for Maidstone property hitting the highest level they had ever reached.  Between 2008 and 2010, Maidstone property values lay in the doldrums and only started to rise in 2011, albeit quite slowly to begin with.


Nevertheless, even though property values have now passed those 2007 peaks, my research indicates that Maidstone property, especially flats/apartments, are now more affordable than they were before the 2008 credit crunch.


Back in 2007, the average value of a Maidstone flat/apartment stood at £164,258 and today, it stands at £193,036, a rise of £28,778 or 17.5%.


However, between 2007 and today, we have experienced inflation (as measured by the Government’s Consumer Price Index) of 25.97% meaning that in real spending power terms Maidstone apartments are 8.5% more affordable than in 2007. Looking at it another way, if the average Maidstone apartment (valued at £164,258 in 2007) had risen by 25.97% inflation over those 10 years, today it would be worth £206,916 (instead of the current £193,036).



The point I’m trying to get across is that Maidstone property is more affordable than many people think.  Maidstone first time buyers can get on the ladder as 95% mortgages have been readily available to first-time buyers since 2010.


It really comes down to a choice and if Maidstone first-time buyers can get over the hurdle of saving the 5% deposit for the mortgage on the property – they will be on to a winner, especially with these ultralow mortgage interest rates, a mortgage can be between 10% and 30% cheaper per month than the rental payments on the same house.


So why aren’t Maidstone 20 somethings buying their own home?


Back in the 1960’s and 1970’s, renting was considered the poor man’s choice in Maidstone (and the rest of the Country) a huge stigma was attached to renting. However, over the last 10 years as a country, we have done a complete U-turn in our attitude towards renting - meaning that many people find renting a better option and a lifestyle choice.


Saving the 5% deposit means going without many luxuries in life (such as holidays, every satellite movie and sports channel, socialising or the latest mobile phone – even if only in the short term) therefore instead of saving every last pound to put towards a mortgage deposit Maidstone 20 somethings choose to rent.


There is no denying the simple fact that over the next 10 to 15 years, the people who choose to rent instead of buy in Maidstone will continue to rise.


Therefore, everyone in Maidstone has a responsibility to ensure that an adequate number of quality Maidstone rental properties are safeguarded to meet those future demands. Interestingly, what I have noticed though over the last few years are the expectations of Maidstone tenants on the finish and specification of their Maidstone rental property.


I have perceived that in the past, what a tenant wanted from their Maidstone rental property was moderately unassuming because renting a property was only a short-term choice to fill the gap before jumping on the property ladder. Before the millennium, wood chip wall paper and twenty-year-old kitchen and bathroom suites were considered the norm.


However, Maidstone tenants’ expectations are becoming more discerning as each year goes by.  I have also noticed the length of time a tenant remains in their Maidstone property is becoming longer (and this was backed up recently by stats from a Government Report), although I have noticed a tendency for many Maidstone landlords not to keep the rental payments at the going market rates  - maybe a topic for a future article for my blog?


The bottom line is this … Maidstone landlords will need to be more conscious of tenants needs and wants and consider their financial planning for future enhancements to their Maidstone rental properties over the next five, ten and twenty years -  e.g. decorating, kitchen and bathroom suites etc etc ..


The present-day and future situation of the Maidstone private rental property market is important, and I frequently liaise with Maidstone buy-to-let investors looking to spread their Maidstone rental-portfolios. I also enjoy meeting and working alongside Maidstone first time landlords, to ensure they can navigate through the minefield of rental voids, the important balance of capital growth and yield and ensuring the property is returned back to you in the future in the best possible condition.

I miss the good old days of George Osborne as Chancellor, with his hardhat and hi-vis jacket. He must have visited every new home building site in the UK with his trademark attire! For the last few years, the nearest Philip Hammond got to donning a ‘Bob the Builder’ outfit was at his grandchild’s birthday party. However, with what appears to be a change in focus by the Tories to ensure they get back in power in 2022, they appear to have fallen in love with house building again with the Chancellor’s promise to create 300,000 new households in a year.


Nationally, the number of new homes created has topped 217,344 in the last year, the highest since the financial crash of 2007/8. Looking closer to home: in total there were 1,145 ‘net additional dwellings’ in the last 12 months in the Maidstone Borough Council area, a decent increase of 79% on the 2010 figure.


The figures show that 89% of this additional housing was down to new build properties. In total, there were 1,019 new dwellings built over the last year in Maidstone. In addition, there were 265 additional dwellings created from converting commercial or office buildings into residential property and a further 11 dwellings were added as a result of converting houses into flats.


While these all added to the total housing stock in the Maidstone area, there were 150 demolitions to take into account.


I was encouraged to see some of the new households in the Maidstone area had come from a change of use. The planning laws were changed a few years back so that, in certain circumstances, owners of properties didn’t need planning permission to change office space in to residential use.


With the scarcity of building land available locally (or the builders being very slow to build on what they have, for fear of flooding the market), it was pleasing to see the number of developers that had reutilised vacant office space into residential homes in the local council area. Converting offices and shops to residential use will be vital in helping to solve the Maidstone housing crisis especially, as you can see on the graph, that the level of building has hardly been spectacular over the last seven years!



Now we have had the autumn budget, Theresa May and Philip Hammond have set out their stall with housing as their key focus. I was glad to see the Government introducing a variety of changes to improve housing, including more funding for the supply side and an injection of urgency into the planning system.


The biggest question is, just where are the Government going to build all these new houses? Maybe a topic for a future article?


Back to the main point though and the focus on the housing market by the Tory’s is good news for all homeowners and buy to let landlords, as it will encourage more fluidity in the market in the longer term, sharing the wealth and benefits of homeownership for all. However, in the short term, demand still outstrips supply for homes and that will mean continued upward pressures on rents for tenants.

Property Portals Property Portals