Investment decision: Lindfield Gardens v Tormead Road

A landlord came to our office for advice recently asking whether he should invest by buying a five bedroom house in a more affluent area within a short distance of the town centre to let to a large family or to sharers. They were considering the residential area bordered by London Road, Epsom Road, Cross Lanes and Boxgrove Road.

We did some research and found a spacious sized five bedroom townhouse in Lindfield Gardens, with views over Stoke Park and on the bus route into the town centre and then onwards to the Surrey Research Park and Royal Surrey County Hospital.

This property was available for £575,000 and could be let out for £2,750 per month as a family single let to achieve an annual gross yield of 5.7%; or to young professionals (subject to receiving an HMO licence) for £3,850 per month, to achieve an annual gross yield of 8%.

Lindfield Gardens - townhouses

Properties in this area are very popular with families because there are a number of private schools located close by. These include Tormead, Lanesborough, Guildford High School plus George Abbot School so there is great demand from investors and tenants alike, making it a relatively good investment area within a desirable part of town.

Tormead Road is located within a 10-15 minutes walk of the town centre. London Road railway station is nearby, to provide links to both Guildford mainline and all stations to London Waterloo. Spectrum Sports Centre is located on the edge of Stoke Park and Merrow Downs are not far away, so active families are able to enjoy both town and country life here.

A place on which to reflect in Tormead Road

We then compared the property in Lindfield Gardens with a more spacious and therefore bigger five bedroomed detached house on Tormead Road to determine if the landlord would gain more financially, by buying there. The two streets are just five minutes walk apart so provide a useful comparison within the same area of Guildford.

A 5 bedroom detached house in Tormead Road was sold recently for £892,450 with a rental value of £3,350. While a more desirable road and mainly owner occupied it is unlikely to attract sharers as the nearest transport links may be considered too far away.

This means it is likely to be a family single let so while the rental will be £600 per month greater than the single let rental value for Lindfield Gardens it will not attract the premium rental for a shared property. The annual gross yield will be lower than the property in Lindfield Gardens, at 4.5% but the potential capital gain greater having invested more for the property in Tormead Road, will be greater.

Tormead Road

This shows that while properties can achieve a higher rent than others in the same geographical location it does not always suggest there will be higher returns for the investor.

More importantly an investor could purchase an investment property in this desirable area, where there is high demand for rental property, for a lot less than they might have thought possible all because they have done their due diligence on the type of properties available, and at what price, on various roads within a specific area.

In this instance our landlord will have the advantage of being able to offer his tenants the benefit of being located across the road from Stoke Park and on a major bus route, so both parties will be happy.

If you would like any advice on doing your due diligence when choosing properties in a particular area of Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207.

Where would Santa Claus invest in Guildford?

A landlord dressed as Father Christmas came to see me the other day and asked if the real Father Christmas wanted to invest in property, so he could have somewhere to put his feet up and therefore call "home", where would it be?

Well obviously it would have to have a chimney that would "stack up" with sufficient room for his reindeer, Rudolph, and accommodation for himself and Mrs Claus but most importantly a grotto to which local children could come to meet him and collect their presents. 

This would require a fairly large garden in which he could dig down to build a cave and therefore create the grotto. The garage would have to be fairly large not only to store the sleigh for Rudolph and all the presents but somewhere for the elves to pack the presents ready for delivery to all the children.

Having considered this requirement for a second, it suddenly dawned upon us. We knew the very place. It would be ideal. It would be located in a village just outside Guildford with a population of just 2,981 living in 1,310 households. The local area has woods and several commons ideal for Rudolph to munch grass and to play with all the other local four legged residents.

The property would be located at Christmas Pie Avenue, in the village of Christmas Pie, one of the most festive sounding street names in the U.K.

The curious name of Christmas Pie owes its name to a property once owned by a prominent local family named Christmas. They were major landowners during the 17th and 18th century. 

"Pie" is a word derived from the Saxon term "pightel" or "pightle" meaning a small piece of arable land. Until the area was built up during the 1920s there was a small field called "Pie Field" located near the Christmas Pie crossroads not far from the village of Wanborough.

The village is the home to Christmaspie Cottages, converted from the original Christmaspie Farm built circa 1823 which probably took its name from the association with the Christmas family. Nearby Santa will be able to work off a bit of his Christmas dinner on the local Christmas Pie Trail, a 8.5 miles long, leisure cycle route running from the northwest edge of Guildford to the east side of Farnham. 

Santa would not have to wait too long to buy in Christmas Pie Avenue because properties do tend to sell frequently. There have been 59 property sales since the beginning of 1995, and 4 in the last 12 months. 

Local bungalows all with chimneys designed for Santa Claus

Many owner occupiers are couples and families so Santa will not have far to travel to deliver presents to the local children. The majority of properties in Christmas Pie are bungalows so Santa will not have to negotiate too far down to the Christmas tree to drop off the presents either.

Now that Santa is having to live off a pension and savings and cannot obtain a mortgage because he is now 'elf-employed it is unlikely that he will be able to obtain a mortgage. In any case, there will probably be too many Claus' to comply with. The fact that he seems to be so poor is probably why he is always seen in the red. Fortunately for him, properties in Christmas Pie Avenue are reasonably priced compared to other areas of Guildford so he should be able to afford his purchase there.

For example, the most recent sale was at no 99, in August 2019, when a 2 bed house sold for £390,000. A similar sized property in Guildford town centre would be priced typically around £425,000.

However the current average value of property in Christmas Pie Avenue is £507,700, having risen by 5.3% in the last year and by 201.76% in the last 20 years, which is almost the same percentage at which Santa Claus' waste line has expanded over the same time.

This is my last blog before Christmas so all that remains for me to do is to wish all my readers a very, very Happy Christmas, good heath and lots of fun over the festive season. Ho! Ho! Ho!

Celebrating Christmas for charity in Guildford

If you would like to have a chat about property prices in Guildford or would like to discover where and how you can gain a greater return for your money in the bank call 01483 320207.

Family living in the centre of Guildford

This spacious property is a 3 bedroom detached house and I like it because it is situated within a 2 minute walk of Guildford's historic High Street. It also retains some period features including an inglenook fireplace and wood beams in the lounge area.

Period features and an inglenook fireplace

Delightful conservatory connects the kitchen to the garden

There is a conservatory that connects the kitchen into the spacious, manicured garden which will be a wonderful retreat after a long day out at work.

Our friends at Chantries are marketing the property so why not arrange a viewing at the following website - https://www.rightmove.co.uk/property-for-sale/property-84614432.html

If you would like a chat about property prices in Guildford or want to discover where you will find your next residential or investment property in Guildford call 01483 320207 or email richard.hodgson@newman.uk.com

In the meantime why not visit https://instantvaluation.newman.uk.com/ to perform an online valuation for your home to discover how much it might be worth in today's market.

A fabulous house with a stunning outlook close to town

This is a modern home built in recent years but has the grandeur of a more established character property from former years. I like it because it is both stylish and practical situated in a curved terrace, built on 3 floors, overlooking a green with spectacular views over towards the town centre and Pewley Downs.

There are 4 bedrooms, 3 bathrooms and a large lounge area with a substantial kitchen with French doors leading out to a spacious conservatory, which then leads out into the garden.

This property is being marketed by our friends at Knight Frank so why not contact them to arrange a viewing now - https://www.rightmove.co.uk/property-for-sale/property-83775404.html

If you would like a chat about property prices in Guildford or want to discover where you will find your next residential or investment property in Guildford call 01483 320207 or email richard.hodgson@newman.uk.com

In the meantime why not visit https://instantvaluation.newman.uk.com/ to perform an online valuation for your home to discover how much it might be worth in today's market.

Create a new home in a delightful garden village

These properties do not come up to often but when they do they provide a great opportunity for either a new owner, or a developer, to bring them up to a modern standard in order to reflect their personality on the property. This is a three bedroom, 1930's, character, semi-detached house with views across to Guildford Cathedral.

Property with potential to extend

I like this property because it has a garage which could be replaced by a 2 storey extension subject to planning permission and is located in the very popular and sought after area of Onslow Village. This was not only designed as a garden village and has therefore its own unique styling but is conveniently located for the mainline railway station, Surrey University, the Royal Surrey County Hospital and the town centre.

This 3 bed house is being marketed by our friends at Surrey & Hampshire, in Godalming so why not contact them to arrange a viewing now - https://www.rightmove.co.uk/property-for-sale/property-63509145.html

If you would like a chat about property prices in Guildford or want to discover where you will find your next residential or investment property in Guildford call 01483 320207 or email richard.hodgson@newman.uk.com

In the meantime why not visit https://instantvaluation.newman.uk.com/ to perform an online valuation for your home to discover how much it might be worth in today's market.

Anyone for tennis?

I love this house as it is tucked away on a small development of just three properties in a driveway off one of the most desirable roads in this area, situated off Epsom Road.

It is therefore just a short distance away from London Road station and the town centre. The house is ideally suited to families whose children have been accepted entrance to Tormead and Lanesborough private schools, which are on the door step; and for tennis players wanting to play at the popular Pit Farm tennis club located around the corner.

This is a substantial 5 bed executive modern home comprising a master bedroom with 2 dressing rooms, shower room and bathroom; plus 4 additional bedrooms; an open plan kitchen, breakfast area, dining area and sitting room; and sauna, all located over three floors. There is a self-contained annexe with bedroom, kitchenette and shower room too.

The house is being marketed by our friends House, based in Cranleigh. Further details are available at:- https://www.rightmove.co.uk/property-for-sale/property-63817464.html

If you would like a chat about property prices in Guildford or want to discover where you will find your next residential or investment property in Guildford call 01483 320207 or email
richard.hodgson@newman.uk.com

In the meantime why not visit https://instantvaluation.newman.uk.com/ to perform an online valuation for your home to discover how much it might be worth in today's market.

Detached house with potential to modernise

Located in a quiet close within a short distance of Merrow village and local schools, including St Peters Catholic and George Abbot, this property has the potential to become a desirable family residence.

Having lived in the property for over 40 years making little change except for the addition of a conservatory and double glazing there is scope for modernisation work and the opportunity to extend (subject to planning approval) into the garden which is a corner plot. This will make the property a delightful family residence, located in a desirable area.

3 bed house in need of modernisation located in a desirable area

There are several larger 5 bedroom properties valued at the £1m+ mark located in this road to suggest that this will be a viable proposition. This is why I like this particular property.

For those who enjoy the game of golf, Guildford Golf Club is just across the Epsom Road.

The price was recently reduced so there will be a surge in demand for this property so why not contact our friends, at Hill Clements now to arrange a viewing before the property sells?
https://www.rightmove.co.uk/property-for-sale/property-72108418.html

If you would like a chat about property prices in Guildford or want to discover where you will find your next residential or investment property in Guildford call 01483 320207 or email richard.hodgson@newman.uk.com

In the meantime why not visit https://instantvaluation.newman.uk.com/ to perform an online valuation for your home to discover how much it might be worth in today's market.

How can you find a good property deal in Guildford?

I was talking to a developer the other day, when he suggested that there were no property bargains for him to buy in Guildford. Here is what I discovered recently about finding bargains that I had discovered over the last few months.

A 2 bed bungalow in Gateways sold last May for £525,000. In July 2016, the property had previously sold for £575,000, a drop in value of 8.7%!

Having purchased the property at a reasonable price and realising that the average price of property in this road is £1,120,750 a developer would have had the opportunity to profit from their investment.

This road comprises mostly detached 4/5 bedroom homes so the buyer would have the scope to increase the size of this property. While the property would not lend itself to being converted into a house it did at least have sufficient garden room to allow for the floor space to be increased subject to planning permission, and by modernising the bungalow increase its value to resell the property at a higher price.

On the other hand another property in Harvey Road sold for £1,622,500 in May this year. This represented a substantial increase of 63% since it was last sold for £995,000 nearly 4 year's ago, in November 2015.

This increase in price was realised by using a cleverly designed plan to maximise the use of space throughout. This home is now an impressive refurbished and remodelled six bedroom detached family home. The property has been extended to provide an additional 100 sqm. There is a new and substantial kitchen and breakfast area plus two additional bedrooms including one further ensuite bathroom.

The prime area of Harvey Road is situated above the High Street so is very close to the town centre, in addition to providing beautiful far reaching views across Surrey and Berkshire on the horizon. Harvey Road is also close to Pewley Downs providing access to miles of lovely walking and riding countryside with many footpaths and bridleways. The Royal Grammar School for boys is located in the Upper High Street not far away; and a short walk to The High School for girls.

This just goes to prove that a property does not necessarily have to be purchased at a discount in order to realise a healthy return on one's investment, However understanding your market and creating a high specification to meet the expectations of your buyer, ideally wanting to live in a lovely house close to the town centre, does help.

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.

Character property in Ganghill

There is a straight path leading through the extensive lawn direct to the front door of this magnificent, character property.

Comprising 5 bedrooms, living room, drawing rooms, study and kitchen opening out into the orangery, it will offer accommodation for a large family and buyers wanting to enjoy spacious living. The orangery opens out to a large garden with an outdoor swimming pool.

Kitchen offers open access to the orangery

Back garden with swimming pool to delight the children

This exceptional property is situated in Ganghill, a quiet street with well maintained grass borders and at whose entrance stand a couple of ornamental stone features with tiled roofs. It is therefore located close to George Abbott school and Burpham village and within easy reach of Stoke Park and town centre.

Located a 10 minute bus ride from London Road station it is also convenient for those wanting to commute to London.

The property is being marketed by our friends at Knight Frank. Further details are available at https://www.rightmove.co.uk/property-for-sale/property-81655544.html

If you would like a chat about property prices in Guildford or want to discover where you will find your next residential or investment property in Guildford call 01483 320207.

For a free instant online property valuation click here.

On the right track?

When visiting Guildford railway station at around 6 a:m, one recent morning, I was staggered to see just how busy the platform was for the next train travelling up to London Waterloo. It made me wonder a number of things. How early do these commuters have to get up in the morning; and secondly, have they saved time by buying a property to live in, situated close by to the station?

While we are fortunate to have two railways stations in Guildford plus further stations on the outskirts off the town in Shalford, Worplesdon, Farncombe and Godalming, most passengers travel from Guildford mainline station, possibly because it has so many connections to London and other major towns in the South East.

This is confirmed by a report published in 2015. This studied the number of passenger journeys in and out of the UK's railway stations. The busiest station in the country was London Waterloo with an estimated 99.2m entries and exits in 2014/15, followed by London Victoria with 85.3m suggesting the majority of commuters into London are likely to be living in the South East.

The report confirmed that the busiest station in Surrey (and 40th in the country) was Guildford with 8.1m passenger journeys. Woking was the second busiest (7,462,936 passengers), followed by Epsom (3,740,752), Redhill (3,629,342) and Staines (2,825,096).

So, if Guildford is the busiest railway station in Surrey and people prefer to have a short journey from home to the station how does this affect the property market?

Guildford mainline railway station

There are 54, 147 and 369 properties on Rightmove currently available for sale to prospective buyers looking to move to a location within 1/4, 1/2 and 1 mile of the station respectively, and therefore within a 20 minute walk.

There are currently 305 more flats and houses, of all types, for sale at least a 10 minute walk away (1/2 - 1 mile) than within a 1/4 mile walk, where there are just 56. This might be because much of this area within 1/4 mile of the station is occupied by Network Rail and the University of Surrey. There are more semi-detached properties on the market within a mile of the station than any other type of house, followed by detached and then terraced. One third of the properties on sale in this area are flats.

Zoopla quotes the average price for property in and around the railway station was £558,347 in August 2019 with flats selling for an average of £331,904 and terraced houses for £479,224.

This compares to the area 1/2 mile away from the station where the average price for property stood at £480,553 in August 2019 with flats selling for an average of £187,312 and terraced houses for £474,683.

The average price for property located 1 mile from the railway station stood at £400,884 in August 2019 with flats selling for an average of £331,904 and terraced houses for £402,368.

These figures therefore suggest that it it is more expensive to buy a property close to the station but gets cheaper as one travels further out from this location. This is possibly because there are fewer properties within the 1/4 mile distance so drives up price, or indeed buyers are willing to pay more for a property located close to the station.

However Zoopla also states that property values increased by 14.61%, in the last 5 years, for properties located more than 1/4 mile away from the station but only 11.52% for those located closer to the station.

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.

Boxgrove Gardens developed for town and country living

This delightful development has been built on a former Department for Environment, Food and Rural Affairs (DEFRA) site. This development was a highly successful example of where disused public land can be developed to create desirable, well designed new housing for people to enjoy in an area where they want to live.

Honoured by a visit from David Cameron and Nick Clegg 

The Boxgrove Gardens development was held up as such a fine example, that it was selected as a location for both The Prime Minister, Rt Hon David Cameron MP and his Deputy, the Rt Hon Nick Clegg MP, to visit in 2011 to announce the Government's new Housing Strategy, underpinned by the new mortgage initiative Help to Buy, for new homes, providing 95% loan to value mortgages.

This 199 home sustainable development, less than a mile from Guildford’s High Street, is an award-winning example of mixed tenure with 70 homes built for shared ownership and affordable rent.

The stylish development has quickly become one of Guildford’s most desirable new neighbourhoods, with houses built with airy conservatories, timber detailing, spacious balconies and floor-to-ceiling windows surrounded by lush, green, modern gardens.

4 bed semi detached featured in a recent blog

The development comprises superb one and two-bedroom apartments plus prestigious three, four and five-bedroom signature houses, The centrepiece is Uplands House, a historic former country manor. This has been converted into stunning apartments overlooking the beautifully, landscaped gardens.

Uplands House converted into flats and adjacent to stunning gardens

Three large oak structures now enhance the grounds of Boxgrove Gardens thanks to the Council, artist Roger Day and developer Linden Homes. The sculptures, collectively called Connected Living, highlight the public right of way that passes through the site to Merrow Downs. Each sculpture has an opening that people can look through, leading them to the next sculpture and the countryside beyond.

Connected Living sculpture by Roger Day

It generally takes only a short amount of time to let properties on this stunning development. Tenants consider the proximity of both Merrow Downs and Guildford town centre to be an advantage. In one moment you are shopping in a bustling High Street and the next strolling through the countryside with views over Surrey and into West Sussex. A recent blog featured a four bed semi-detached property in Saxon Gardens on the market for £650,000. A three bedroom end of terraced property is currently available for an asking price of £499,995.  A two bed flat would be priced at around £325,000.

As the development was built only recently, in 2010, these properties will offer an excellent standard of accommodation built to recent building codes and so will rent out quickly. The rent that could be achieved for the four bed semi is £2695 pcm; £2,225 pcm for the 3 bed house and around £1,525 pcm for the two bed flats. This means investors can potentially expect yields of around 5% to 5.5% per year.

Whether you have already done a search for property, or are trying to figure out where to start, we’re happy to advise on properties before you buy, to let out. It’s in your interest that you purchase something that can let quickly, whether you are currently one of our clients, or not, so if you would like advice about what could make a good investment, please call 01483 320 207 or email richard@guildfordpropertyblog.co.uk

Living to the Manor "Road" born

This is  not quite a stately home but certainly a large property compared to those around it.

What is more important is that it is located in an area where there is a regular bus service into town and close to a major junction that takes you onto the A3 trunk road from London to Portsmouth. It is an ideal spot for walking to the main railway station. There is a parade of shops around the corner to save having to travel elsewhere for essential supplies.

Substantial property in Manor Road

As regards the property it has offering flexible and versatile accommodation including several rooms that could operate as bedrooms downstairs in addition the four bedrooms upstairs so would make an ideal shared accommodation to maximise rental income.

There is a shower room on the ground floor plus a family bathroom upstairs. There is also sufficient parking for 3 to 4 cars on the drive.

The property is being marketed by our friends at Callards, on Worplesdon Road, Guildford. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-39171168.html

If you would like to have a chat about property prices in Guildford or would like to discover where and how you can gain a greater return for your money in the bank call 01483 320207 or email richard@guildfordpropertyblog.co.uk

Which semi detached house should I buy in Guildford?

Many investors ask me “Which semi detached house should I buy in Guildford?” Would a 2, or a 3 bed semi detached property to rent out to tenants, be a better investment? 

The first question I ask them is what are they looking for from the investment - capital growth in the property or a great yield? Answering this question will help you to figure out which properties you should buy...

The average asking price of a 2 bed semi in Guildford is £375,000 today compared to £399,950 for a 3 bed semi. The 2 bed semi achieves an average rental price of £1250 per month compared to £1450 per month for a three bed semi. These 2 bed semis are typically found in the Stoughton Road area of Guildford just one mile from the town centre. Three bed semis at average asking prices are typically located on the roads coming off Worplesdon Road including Shepherds Lane, Sheepfold Road and Byrefield Road plus the Bellfields Estate.

That’s a yield of 4% for the 2 bed against 4.3% for the 3 bed. So surely, the 3 bed semi is the slightly better bet? Well it does offer a slightly better rate of return and should be easier to rent out (as it tends to be the preferred option for young and growing families). It will be easier to sell in the future because it will offer more space for only a little more money.

If one is looking for capital growth then semi-detached properties in Guildford have more than tripled in price over the last 20 years but detached properties have more than quadrupled so perhaps a detached property is a better proposition overall.

Want to have your property valued or to have a chat about Guildford property values? Call me on 01483 320 207 or drop me an email richard@guildfordpropertyblog.co.uk

Potential to extend in Bryanstone Grove, a quiet road

This property impressed us as it offers a reasonable amount of accommodation for the price and is located in a pleasant, quiet road but not far from the Worplesdon Road. This will allow the potential buyer to live in a pleasant area on the edge of Guildford with easy access to wooded areas adjacent to the local countryside yet be within a reasonably short travelling distance of the town centre.

Potential to extend subject to planning permission

The property next door has been extended substantially already so the opportunity to extend out from both floors to the rear may be restricted due to lack of light but there should be the opportunity to extend the ground floor and then out to the side to enable the bathroom to be moved upstairs.

Otherwise the house is offered in a reasonable condition and should offer an investor a potential gain or a growing family the chance to increase their accommodation, as they grow. It is for these reasons that we anticipate this property will attract a lot of interest.

The property is being marketed by Seymours, on the Worplesdon Road, in Guildford. They are very familar with the area and will therefore be able to provide a lot of useful advice. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-39054912.html

If you would like to have a chat about property prices in Guildford or would like to discover where and how you can gain a greater return for your money in the bank call 01483 320207 or email richard@guildfordpropertyblog.co.uk

It's a New Year so let's raise the roof!

The Christmas and New Year are a time spent planning for the future and one of the topics families talk about is their property and whether they should move home. The other option discussed is whether they could improve their lifestyle by redecorating, refurbishing the bathroom or kitchen; or even extending the property.

A number of commentators have remarked that the reason for the shortage of housing stock in Guildford, is down to property owners wanting to stay where they live because they like the area and most importantly, they want to benefit from the increasing value of their current home, rather than have to pay the relocation costs to move.

One example of an area where this has happened is the Fairlands Estate which comprises both houses and bungalows, built primarily in the 1960's. Fairlands is popular with an older population as many facilities are located on the door step. These include a parade of eight shops, a post office, a doctor's surgery, primary school, recreation ground and community centre. The area is situated away from more populated areas adjacent to farm land, but is still within a relatively short car or bus ride from Guildford town centre. 

Local shops on Fairlands Avenue

The bungalows were built with between 2 and 3 bedrooms but were quite cramped as many of the rooms, and especially the kitchen, were very small so they have been extended over the years to provide more living space to accommodate the many material goods that we now require to live in today's modern society. The Fairlands Estate is also a prime example of any area where many families have lived for many years so the accommodation has had to expand to accommodate them as they have grown.

Bungalows in Envis Way, one with a loft conversion

For example, some bungalows have been extended into the loft to provide room for a further one or two bedrooms and then part of a ground floor bedroom has been used to add more space to the kitchen.

One or two owners certainly must have had substantial dreams over previous Christmas and New Year holidays because they have removed the roof, built an additional floor and then constructed a new roof to convert their bungalow into a house. 

I have been asked by investors on a few occasions would it be financially beneficial to invest in a bungalow on this estate and then carry out these building works? How would this work affect the property value?

In Envis Way and Louis Fields, where most bungalows have been built on the Fairlands Estate, 2 bed bungalows have increased in value by 183%, from £199,500 to £364,950 in the last 15 years; 3 bed bungalows have increased by 145%, from £289,950 to £420,500; whereas the price of 4 bed bungalows  has increased by 200% from £224,950 to £449,500.

However those owners that have extended their bungalows from (say) a 2 bed to a 4 bed bungalow have seen their properties realise a 225% capital gain and those that have literally taken the roof off to convert a 2 bed bungalow into a 4 bed house would have benefited from a 276% gain as their property was worth £199,500 in 2000 but will sell today for £549,950.

If an investor had opted to rent their 2 bed bungalow out today for the market rental of £1,595 pcm they might achieve a 5.2% gross yield but an investor renting out a 4 bed house on the estate might only see only a 4.4% gross yield, if they manage a market rental of £2,000 p.c.m.

So if families had raised the roof in a previous New Year they would have been able to enjoy both a financial and lifestyle gain; but investors would have lost out, for the usual reason - Guildford offers great capital gains but poor gross yields.

If you would like to have a chat about property prices in Guildford or to discover where and how you can gain a greater return for your money in the bank call 01483 320207 or email richard@guildfordpropertyblog.co.uk

Room up top in Park Barn Drive

Like buses these ex social houses extended with loft rooms to provide additional accommodation seem to be few on the ground and then they come along two, or three, at a time.

We have just spotted this beautiful example priced very competitively. Examples of these with the standard three bedrooms only, have been priced at the same asking price in recent months.

4 bed house with loft conversion in Park Barn Drive

The property is in excellent condition. The loft conversion has provided a stunning master bedroom which is a good size with a modern en suite shower room plus views looking far over Guildford. In addition to the remaining three bedrooms and two reception rooms there is a utility room and a downstairs WC.

The property is in a popular area for students and employees working for companies on the Surrey Research Park so the house should rent out for around £1,795 pcm so the gross yield should be around 5.7%. If the rooms are rented out separately an investor should see a healthy return of around 7-8% gross yield.

The property is being marketed by Gascoigne Pees, in Worpesdon Road. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-56625341.html

If you would like to have a chat about property prices in Guildford or would like to discover where and how you can gain a greater return for your money in the bank call 01483 320207 or email richard@guildfordpropertyblog.co.uk

Room for expansion in Watford Close

This light and airey property is ideally located for business executives having to rush off early in the morning to catch the train from London Road station (only 10 minutes walk away) to the City; and wanting an excellent education for their children, available at one of several local private schools. Nearby schools include, Tormead, Guildford High School, Lanesborough, RGS, Boxgrove, St Peters, and George Abbott.

The detached four bedroom house is tucked away in a leafy cul-de-sac, in "The Golden Triangle" between London Road, Epsom Road and Boxgrove Road. It includes a garden which allows scope to extend the house subject to the usual consents. 

It is located just over half a mile to the Upper High Street where there are numerous shops, cafes, restaurants and bars clustered around the town centre and the historic cobbled High Street. Entertainment and sporting facilities for the family include the Surrey Sports Park and the G Live entertainment venue, amongst others. 

The property is unlikely to deliver the property investor a good yield but it does offer potential for capital gain if extended to a 5 bedroom house so is likely to realise a lot of interest.

The property is being marketed by Romans, in the High Street, Guildford. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-57081389.html

If you would like to have a chat about property prices in Guildford or would like to discover where and how you can gain a greater return for your money in the bank call 01483 320207 or email richard@guildfordpropertyblog.co.uk

A lovely family house in Juniper Close with potential to extend

Welcome back to a New Year and it looks like it is going to take off from where last year finished off, with a vibrant sales market.

This particular property stood out from others spotted today as it offers everything an investor should require in an investment property. Situated in a cul de sac location and in need of cosmetic updating this semi detached home has potential for an extension to the rear or over the garage for a growing family to move into; or for a landlord to house more sharing tenants. 

The property is a solid ex social housing property with the typical configuration of two reception rooms and kitchen on the ground floor but the addition of a shower room and a conservatory to look out of and into the huge garden. There are three bedrooms plus separate w.c. and bathroom upstairs. This property unlike many on the Bellfields Estate also includes a garage.

Potential to extend over the garage

The house is located on a quiet street at the far end of the estate so will be a quiet and peaceful location in which to live. However there are local bus routes into Guildford Town centre plus access to the A3 within 5 minutes drive of the house.

An investor is likely to realise £1,695 pcm for a property like this and so the gross potential yield will be 5.5% but higher if an additional bedroom is added by extending over the garage. As this property offers huge potential is it is likely to sell fast.

The property is being marketed by our friends at Hipps, whose knowledge of this area is extensive. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-52923671.html

If you would like to have a chat about property prices in Guildford or would like to discover where and how you can gain a greater return for your money in the bank call 01483 320207 or email richard@guildfordpropertyblog.co.uk

Where would Father Christmas invest in Guildford?

A landlord dressed as Father Christmas came to see me the other day and asked if the real Father Christmas wanted to invest in property, so he could have somewhere to put his feet up and therefore call "home", somewhere away from all those houses to which he delivers at Christmas, where would it be?

Well obviously it would have to have a chimney that would "stack up" with sufficient room for his reindeer, Rudolph, and accommodation for himself and Mrs Claus plus a couple of bedrooms for his helpers but most importantly a grotto to which local children could come to meet him and collect their presents. 

This would require a fairly large garden in which he could dig down to build a cave and therefore create the grotto. The garage would have to be fairly large not only to store the sleigh for Rudolph and all the presents but somewhere for the elves to pack the presents ready for delivery to all the children.

Having considered this requirement for a second, it suddenly dawned upon us. We knew the very place. It would be ideal. It would be located in a village just outside Guildford with a population of just 2,981 living in 1,310 households. The local area has woods and several commons ideal for Rudolph to munch grass and to play with all the other local four legged residents.

The property would be located at Christmas Pie Avenue, in the village of Christmas Pie, one of the most festive sounding street names in the U.K.

The curious name of Christmas Pie owes its name to a property once owned by a prominent local family named Christmas. They were major landowners during the 17th and 18th century. 

"Pie" is a word derived from the Saxon term "pightel" or "pightle" meaning a small piece of arable land. Until the area was built up during the 1920s there was a small field called "Pie Field" located near the Christmas Pie crossroads not far from the village of Wanborough.

The village is the home to Christmaspie Cottages, converted from the original Christmaspie Farm built circa 1823 which probably took its name from the association with the Christmas family. Nearby Santa will be able to work off a bit of his Christmas dinner on the local Christmas Pie Trail, a 8.5 miles long, leisure cycle route running from the northwest edge of Guildford to the east side of Farnham. 

However Santa would have to buy quickly as there have been only 15 property sales since the beginning of 1995 in Christmas Pie Avenue and when they do come onto the market they do seem to sell very quickly. The name of the road is probably the main reason why because people are sold on the name.

Local bungalows all with chimneys designed for Santa Claus

The majority of owner occupiers are couples and families so Santa will not have far to travel to deliver presents to the local children. Most of the properties in Christmas Pie are bungalows so Santa will not have to negotiate too far down to the Christmas tree to drop off the presents either.

Now that Santa is having to live off a pension and savings and cannot obtain a mortgage because he is now 'elf-employed it is unlikely that he will be able to obtain a mortgage. In any case, there will probably be too many Claus' to comply with. The fact that he seems to be so poor is probably why he is always seen in the red. Fortunately for him, properties in Christmas Pie Avenue are reasonably priced compared to other areas of Guildford so he should be able to afford his purchase there.

For example, the most recent sale was at no 42, back in May 2012, when a 2 bed bungalow sold for £320,000 and would now be worth approximately £391,000 though this is slightly less expensive than the asking price for 2 bedroom bungalows currently on the market and situated closer to Guildford town centre, at over £400,000.

However the current average value of property in Christmas Pie Avenue is £615,740, having risen by 8.47% in the last year and by 309.11% in the last 20 years, which is almost the same percentage at which Santa Claus' waste line has expanded in the same time.

This is my last blog before Christmas so all that remains for me to do is to wish all my readers a very, very Happy Christmas, good heath and lots of fun over the festive season. Ho! Ho! Ho!

Celebrating Christmas for charity in Guildford

If you would like to have a chat about property prices in Guildford or would like to discover where and how you can gain a greater return for your money in the bank call 01483 320207 or email richard@guildfordpropertyblog.co.uk