Guildford v Jacobs Well

While speaking with a number of house owners in Jacobs Well recently it appeared that they had moved away from Guildford town centre to enjoy living in larger properties but comparatively less expensive.

This made me wonder what are the actual figures and is Jacobs Well definitely a place to be considered as a potentially cheaper home?

Jacobs Well has a population of just 1,171 and is situated on the northern edge of town surrounded by woods and not far from the River Wey and Sutton Green (the former home of John Paul Getty, the billionaire). There is a small shopping parade in one of the residential roads and the centre of all social activities is the village hall.

Having previously lived in terraced properties these house owners would have sold their 2 bed semi detached properties, in Guildford, for around £424,900 whilst their new 3 bed semi-detached bungalow in Jacobs Well could be acquired for a £400,000, or slightly less, so was around 5% less expensive.

If they were to return to Guildford town centre to purchase a 3 bed semi-detached house in the area where they had previously lived this would typically cost £550,000, considerably more than their new bungalow in Jacobs Well.

So it seems that while the house owners might have saved a little by purchasing in Jacobs Well, it is really the comparative saving they have made by acquiring a property with 3 bedrooms rather than their existing 2 bedrooms, that has saved them money. More importantly they now enjoy the country life and the benefits that this has brought to them.

If you would like to talk to us about property in Guildford please feel free to call me on 01483 600840 or go to https://instantvaluation.newman.uk.com/ to discover how much your property is worth today.

Town or Village Life?

Guildford and the local villages offer a wonderful living environment so does one select a village to live in or the town centre? This will often be a personal preference subject to a property buyer's lifestyle aspirations and their objectives for moving. These might include family and friends; schools; the local infrastructure including public transport; and investment criteria.

The GU1 postcode area includes Guildford Town Centre, Merrow and Burpham where people live to benefit from local schools, shops and leisure facilities.

GU2 is also located close to the town centre but tends to be a little less expensive. It attracts a large student population as it is home to the University of Surrey. Families move to Onslow Village (GU2) because it is a desirable area for those wanting to live close to the town centre or the main line station, to travel up to London for work. This village was designed as a garden suburb, with its own parade of shops and an arboretum comprising trees from all over the world.

Moving out towards the local countryside GU3 comprises villages such as Normandy, Flexford, Puttenham, Worplesdon and the notorious Christmas Pie (named after a family called Christmas and a piece of arable land).

The village named after the Christmas family

Villages closer to town include Burpham and Jacobs Well plus Chilworth and Shalford. The latter two have their own railway stations so are within 10 minutes travelling time of Guildford mainline station.

Finally there is the GU5 postcode area, home to Albury, Bramley and Shere, the beautiful, quintessential English village located between the Guildford and Dorking. The village has historical buildings, a stream with ducks, a small museum, a tearoom, two pubs, as well as St James Church, a 12th century church. These villages all sit on the edge of the Surrey Hills Area of Outstanding Natural Beauty.

The quintessential village of Shere

Which group of residents have gained most financially from the value of their property over the past 20 years? Is it those enjoying town living or those enjoying a quieter, more peaceful existence in the countryside?

The highest average prices paid during the last 12 months were £592,051 (GU3) and £767,163 (GU5) no doubt because these are home to larger properties including some country estates.

There was very little movement in property prices during the last 12 months though GU2 sustained a decrease of £10,932 (2.37%). During the last 5 years the increase in property prices was evenly distributed across all the postcodes at around 17%; but over the last 20 years the highest growth was experienced in the town centre (GU1) where it reached 222.88% and 217% (in both GU2 and GU4) suggesting that perhaps demand for town centre properties does tend to be greater than for property situated out in the country.

If you should like to have a chat about any matters discussed in this article or about the Guildford property market in general then please do contact me.