Guildford Property Market update - September 2019

For this month's Guildford property market update I have taken a look at the latest figures available to indicate the state of the nation, as the housing market continues to be influenced very much by national issues such as BREXIT and what possible affects the new PM and his policies will have on the property market, both locally and nationally.

Wages rose 3.9% in the three months to June, the highest rate of growth since 2008 according to new figures released by the Office for National Statistics. Wage growth continues to outstrip inflation, 1.9% in June, the same as in May and down 0.1% on April.

GDP contracted in the second quarter of 2019. This is the first time there has been a fall since 2012. Manufacturing output and construction both fell, and the trade deficit narrowed, following a sharp rise at the beginning of 2019, coinciding with the UK's original departure date from the EU.

UK employment remains at its highest level since 1971. The ONS report 32.76 million people aged 16-64 were in employment in the three months to the end of June. The number of self-employed part-timers has increased to over 1.5 million, more than double 25 years ago.

HMRC reported house sale transaction levels in July were 12.4% below the same month a year ago. It is worth pointing out that the June 2019 figure has just been revised from a 16.5% fall to a 4.7% fall. It is likely that the July fall is not as substantial as is being currently reported.

Nationally there were 7.8% fewer homes for sale in June compared to a year ago, according to Rightmove, with sales volumes 4.6% lower to date in 2019. With demand levels starting to stabilise, the RICS expect some improvement in sales rates at the national level over the next 12 months.

The latest RICS Residential Market Survey suggests market demand is beginning to stabilise. In July demand levels increased for the second month running, following consecutive months of decline since July 2018.

The low interest rate and greater availability of mortgage products might have influenced the number of mortgage approvals. These rose slightly in June to 66,440, above the 60,000 projected in the May Bank of England inflation report. Although buyer interest remains, the average time to find a buyer in July, was 62 days, the longest since July 2013, according to Rightmove.

The latest data available at The Land Registry states the average house price in the UK is £230,292. Property prices have risen by 0.7% compared to the previous month, and risen by 0.9% compared to the previous year.

How does the local Guildford property market compare?

Average property selling prices have continued to increase but only marginally at 2% overall, over the last 12 months.

Most vendors I speak with have been concerned, for whatever reason, that their properties have been taking longer to sell. Current figures suggest the following number of days are taken for homes within a 3 mile radius of the centre of Guildford, to sell.

The number of properties sold in the most recent month for which data is available, compared to the same month last year, has reduced dramatically. Some say this is due to a reduction in the level of seller and buyer confidence due to the current state of the nation so vendors are delaying their decision to move; or extending their homes rather than move to a larger property.

Currently their are 557 homes for sale in the Guildford area with 48 having been added in the last 14 days with an average asking price of £556,692. However a substantial number of property listings have also been removed from Rightmove over the last week suggesting that properties are being sold, even after months of delay.

Source: home.co.uk

Considering the uncertainty the Country has been through in the last three years with the ‘B’ word issue, stock levels and the increase in time to sell might be of concern but as prices are still moving up, albeit by only a small overall percentage, the underlying resilience of the local market does remain strong, as suggested by the long term price increases that Guildford has experienced.

Now looking forward towards the end of the year .. how will Guildford house values change under the new Prime Minister?

Boris Johnson and Brexit are short-term distractions from the long-term issues of the UK property market. Until we start building at least 300,000 properties a year to meet the demand for UK property, demand will always outstrip supply, meaning irrespective of short-term fluctuations that may or may not be caused by domestic and world events, prices will always in the medium to long term remain stable and increase.

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.

Selling tips - the key features that make up a dream garden

Garden space often plays a key part in a property sale. But what are the key dream features that people would want adorning their gardens, if money was no object?

Garden specialist Oeco Garden Rooms put this question to 1,234 homeowners, who were given six luxury items to choose from. Those surveyed could also go off-piste and write down their own answers if their dream feature was not included.

A personal swimming pool topped the list, with 59% opting for this as their number one item. This was closely followed by a garden room/office (52%), while 50% said they would like a hot tub.

An outdoor kitchen/pizza oven, which has become particularly trendy and desirable in recent years as a foodie revolution has swept across Britain, was in third place, while a water feature/fountain was the ideal item for 41% of participants.

A sauna, something that is especially popular in Northern European countries where temperatures plunge during winter, completed the top 6, with 32% of the vote.

Of the off-piste, written down answers, the most popular responses were ‘hiring a full-time gardener’ to keep a garden in tip-top condition, ‘building a home gym’ and having ‘tennis courts’ or ‘football pitches’.

While some of the dream features are beyond the wishes of most people – only a relatively small number of homes in the UK have a swimming pool or personal football pitch, for example - some are slightly more realistic.

A delightful country cottage garden

A water feature/fountain, for example, wouldn't necessarily cost the world to install, and wouldn't need to be ridiculously extravagant, luxurious or expensive. A fountain would be likely to cost more, but a water feature could be purchased for reasonable prices if you made sure to shop around.

What's more, while building a home gym would be costly, a makeshift one – in your garage/shed – would be far more affordable. Gym equipment can be purchased for reasonable prices second hand, dumbbells don't tend to cost much, and gym mats and exercise balls won't blow a hole in your pocket, either.

Pizza ovens, meanwhile, are probably a more realistic option than a whole new outdoor kitchen. They can range from £200 to £900, depending on the size, make and quality of the oven. Not cheap, then, but nowhere near as expensive as a swimming pool, a tennis court or a hot tub. Wood-fired pizzas are all the rage at the moment – as trendy as courgette spaghetti and butternut squash pasta – so if you are eager to add value to your home and increase your chances of selling in the future, an outdoor pizza oven would be a wise move.

In this country, the months in which you can use an outdoor oven are, of course, more limited thanks to our famously unpredictable weather. That said, they come into their own in the spring, summer and sometimes even autumn months. In addition, they will have appeal to hip young professionals and those who fancy themselves as the next Jamie Oliver or Tom Kerridge.

More than anything, your garden needs to be bright, attractive, well-maintained, tasteful and colourful. If you ever come to sell your home, your garden will be a key selling point – so it needs to look the part. Most buyers won't be expecting any of the dream feature set out above, but if you happen to have a pizza oven, a home gym, a spectacular water feature or a garden room/office, make this a central part of your sales strategy. It could just make all the difference.

Gardens have to be versatile places – a place for entertainment, a place to unwind and a place to hold BBQs, dinner parties and family gatherings. That, on the whole, is more important than dream features. But, if you possess dream features, all the better. And don't be afraid to shout out about 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.

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.

Well appointed house close to Stoke Park

This property is situated in a quiet wooded street located within easy reach of both state and private schools, opposite to Stoke Park and close to the town centre. It will therefore offer a wonderful family home with potential for extending subject to planning approval.

The state of the art kitchen has been extended to become the centre of the house with bi-fold doors opening out to a magnificent garden. There 4 bedrooms including one with en-suite and the decor is clean and modern. There is ample parking room too.

Kitchen with bi-fold doors leading out to a magnificent garden

Located 10 minutes walk from London Road station it is also convenient for those wanting to commute to London.

The property is being marketed by our friends at Collins and with the asking price recently reduced by £70,000 will sell quickly. Further details are available at https://www.rightmove.co.uk/property-for-sale/property-62730192.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.

Dennisville - built for Dennis workers, home to students

A landlord recently missed his chance to buy a three bed semi-detached property on Raymond Crescent, near the University of Surrey and the Cathedral, as it sold in a matter of days. He asked me if there is something special about the area, so I did a little research.

I have included St John's Road, Downing Avenue and Raymond Crescent in my findings for the area affectionately known as Dennisville. This was constructed for the workers at Dennis Brothers, the manufacturer of buses, fire engines, lorries and dustcarts, all built nearby on Cathedral Hill, now demolished and occupied by companies such as Philips, Palmolive, RBS and Avaya.

Dennisville was built to house Dennis factory workers

Two hundred and twenty-three houses were constructed for their workers, in the 1930's. John and Raymond Dennis died in 1939 so their names are commemorated in the names of Dennisville's St John's Road and Raymond Crescent.

Street named after Raymond Dennis, one of the Dennis Brothers

A number of two bedroom houses have sold in the area for around £400,000 in the last two years. To prepare the property as a rental investment could take around £20,000 to redecorate and install new bathroom and kitchen but this could achieve a rental of around £1395 per month, which would provide a reasonable annual yield of around 4%.

The three bedroom semi-detached properties in the Dennisville area, which were selling for a maximum of £450,000 last year, are now selling for £400,000 which is probably a reflection of the recent 7.22% slowdown in prices, over the last 12 months.

The bigger houses offer the buyer or investor more rooms, which can be more appealing especially if a landlord is planning to house students studying at the nearby University of Surrey. One such property has been let recently for £3,750 pcm, having been extended to provide six rooms for let, and even the 3 bed houses can be let to sharers for a round £2,000 pcm.

The potential gross yield for these properties will therefore be an attractive 6-10% and there is high demand from students for these properties as they only need to walk 5-15 minutes to reach their destination, at the University.

In conducting my research I managed to speak with one of only two of the original Dennis workers still living in the area. They have been residents since 1960. They purchased the property for £2,000. Now their home is worth around £400,000 and because it is unencumbered they could realise a £398,000 profit over the 59 years, which equates to an annual income of £6,745.

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.

Selling Tips - Guide to Property Photography

✔️ The better your preparation, the better your images.

Copyright: Andy Gaunt

✔️ Hire a Professional Photographer. Agents tend not to be professional photographers especially if they use an iPhone to take photos. Don’t scrimp on the cost. Professional photos are the key to marketing and selling the home.

✔️ Move cars, bins, toys and any rubbish out of the external shot.

✔️ Open curtains and internal doors to increase light into the room.

✔️ Turn the TV off to keep the shot free of unwanted distractions.

✔️ Take pets out to avoid capturing them in shots.

✔️ Use a mix of photo media. Virtual tours will better qualify potential buyers. Video lets buyers see themselves living in the house to increase the likelihood of a request to view.

✔️ Take a photo to emphasize each room’s individual selling point.

✔️ Work around the weather. Blue sky and additional lighting can be added when editing the photos.

✔️ Use coloured objects to make photos stand out e.g. cushions, artwork, flowers

✔️ Take shots during the “Magic Hour” at dusk to create effect.

✔️ Turn on all the lights in the house before you start shooting.

✔️ Don’t use flash. It can cause shadows, and degrade the natural look of the image.

Discover how much your property is worth

If you would like to have a chat about property prices in Guildford or to discover where and how you can find your next residential or investment property, before it goes onto the portals, call 01483 320207 or email richard.hodgson@newman.uk.com

The house of bathrooms

This traditional Victorian 3 bedroom property located within 10 minutes walk of the town centre has an amazing 3 bathrooms. A shower room has been installed in the basement adjacent to the bedroom and one of the original bedrooms upstairs has been converted into a family bathroom in addition to the original bathroom located to the rear of the kitchen.

Light and airy modern kitchen

Investors could utilise the front reception room as a bedroom and in so doing should achieve a gross yield of around 6%.

The property is located just a stone's throw from the Waitrose supermarket and town centre. There is a short walk to reach the Guildford mainline railway station. This means that there is little requirement for a car to travel locally, or up to London.

Our friends at Curchods are marketing the property. Further details are available at https://www.rightmove.co.uk/property-for-sale/property-82510142.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.

A well appointed home close to Guildford town centre

This property has huge potential for either a growing family or a property investor, looking for a gross yield of circa 6%.

It has been extended into the roof and refurbished and modernised throughout to provide 3 bedrooms, including one ensuite plus a further bedroom in the basement. This has been tanked to Building Regulations standards.

There is one reception room available which could provide a fifth bedroom with access to a separate w.c. adjacent. The most impressive area is the kitchen/diner/family area which has bi-fold doors out into the garden, where you will discover a garden house.

Relax with friends and family in this extensive kitchen/diner/family room

Located opposite the cricket ground and within easy reach of both Guildford train stations, the property is only a 15 minute walk into the town centre saving the need to drive into town. This will make it an ideal home for someone who therefore commutes up to London.

The property is being marketed by our friends at Chantries. Further details are available at https://www.rightmove.co.uk/property-for-sale/property-81422342.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.

A grand house in the town centre

This amazing property has everything including a wine cellar, play room, 5 bedrooms with 2 ensuite plus an extensive kitchen/dining/lounge area which adds a modern touch to this period home.

A grand house right on the edge of the town centre

Located within the Waterden Road conservation area, just a 5 minute walk into the upper High Street and not far from the G-Live centre and London Road railway station it offers a substantial residence in an ideal location with parking and a garage for several cars.

There is also a workshop/shed out in the garden which has been maintained to a high standard to offer a delightful place to relax in the Summer evenings.

The property is being marketed by our friends at Strutt & Parker, in Guildford. Further details are available at https://www.rightmove.co.uk/property-for-sale/property-72202030.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.

How can families move up the property ladder?

Many couples come to a point in their lives when it is time to move into a larger property so often ask me where should they move to next?

They generally want to move from a smaller 3 bed house, often with a third bedroom that is barely more than a box room, to a 4 bed house with a larger garden for the children to play in.

Their budget will often depend upon their current circumstances of course. But most have experienced some capital growth in recent years and may have a second property to sell in order to realise funds, having lived there before they married.

On the assumption that they want to stay in the local area (80% of people moving are thought to stay in the same area) especially if they have children in local schools and that they currently live in a 3 bed terraced or semi-detached property the sales price is likely to be £450,000 compared to a median purchase price of £580,000 for a 4 bed terraced or semi-detached house; and £750,000 for a 4 bed semi or detached property in the same area. Moving up to 5 miles out of town will reduce the price for a 4 bed semi or detached property to around £650,000.

Alternatively they could extend their current property, as many property owners are doing to save the cost of moving expenses.

Alternatively they could consult a property agent with knowledge of the current state of the local property market and opportunities to view a property before it is listed on the property portals, in order to realise their property dream.

Discover how much your property is worth

If you would like to have a chat about property prices in Guildford or to discover where and how you can find your next residential or investment property, before it goes onto the portals, call 01483 320207 or email richard.hodgson@newman.uk.com

Where will Guildford build new homes?

For anybody that has traveled in and out of Guildford mainline station, or has the pleasure of walking, running or cycling along the River Wey towpath from the town centre to Ladymead, will be aware of the changing skyline as the dull, featureless industrial units have been demolished and more stylish housing developments have taken their place.

Apartments in construction along Walnut Tree Close

It seems that times are changing. No longer do we require industrial units for manufacture and warehousing but more homes for those wanting to step up onto the first rung of the property ladder. Both central and local government have recognised this growing need and therefore provided the required planning permission to enable developers to build the apartment blocks suited to the requirements of young home buyers, while also regenerating the local economy.

It was well known that Guildford was unable to meet its responsibility to have a 5 year supply of housing land so realised it had to build more new homes – 12,426 properties are required between 2015 and 2034 so where will these be built?

One significant location has been Walnut Tree Close. It was the ideal location as brownfield sites became available through the demolition of the former industrial units reducing the need to build on green fields or green belt land.

The area has seen a number of new residential developments being built and completed over recent years, to create a new and attractive residential neighbourhood close to the town centre and mainline railway station. Some developments overlook the River Wey providing an idyllic home away from the town centre.

Changing skyline in Walnut Tree Close

The building of apartment blocks has opened up the possibility to rent stylish new apartments all with modern facilities and managed services; and in some cases enable purchasers to qualify for financial assistance through Help to Buy or Shared Ownership schemes, making it easier for them to afford their own home, in a town where affordability was limited yet employment opportunities plentiful.

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.

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.

Family Living at a Reasonable Price

This property offers a substantial amount of rooms for the asking price and is just 10 minutes walk from the town centre.

There are 3 bedrooms upstairs with a fourth bedroom with ensuite on the ground floor ideally suited for a guest, garage with driveway and a substantial kitchen/living area all designed for a young family needing more space in a convenient location.

A Stylish Kitchen in a House Designed for Modern Living

The property is light and airy. It has a stylish kitchen with white cabinets and integral appliances for practical dining and relaxation.

Our friends at Chantries have recently reduced the property asking price so now might be the time to make an enquiry. The listing can be found on Rightmove at:
https://www.rightmove.co.uk/property-for-sale/property-82314215.html

If you would like to have a chat about property prices in Guildford or to discover where and how you can find your next residential or investment property, before it goes onto the portals, call 01483 320207 or email richard.hodgson@newman.uk.com

This document is for information only and should not be relied upon.  All details should be checked and verified with the owner and their professional advisors.  We are not able to offer any legal, financial or tax advice. You should consult your solicitor and financial advisors for this.

Selling Tips - Guide to Staging Your Property

This is the first in a series of guides designed to help you to sell your property at the right price and quickly.

Home Staging
The sale of your home is usually decided within minutes of viewers walking through the front door.

First impressions count, so do all you can to maximise the impact on potential buyers. Below are suggestions to create that wow factor and therefore help you to prepare your house for sale to improve your ability to achieve your asking price.

A property industry trade body claims 85 per cent of agents believes a ‘staged’ property sells three times faster than a non-staged home.

The Home Staging Association says research for a new report shows that staging costs of £500 to £5,000 will produce higher sale prices.

“Seventy per cent of agents stated home staging increased the offer value by one to 10 per cent, with 16 per cent reporting a seven to 10 per cent rise in offer value” it says.

“In addition 77 per cent of developers saw a return in their investment, reporting that the sale of the property paid for the cost of staging, highlighting how professional staging often is the best choice financially for homeowners” it continues.

The association’s research suggests that 74 per cent of agents consider the reception room as the most important to be staged for a sale, with another 10 per cent choosing the kitchen,
and a further 10 per cent stating the master bedroom.

Example of a cluttered house

Declutter

Declutter all rooms and remove any personal items so that the buyer can imagine themselves living there by taking away any distraction from the room itself.  Make sure to pay close attention to detail in the kitchen and bathrooms, as this can make or break a potential sale. Both rooms set the mood for the rest of the home.

Buyers are often looking for more room and how their personal items will look in the house, so pack away anything that creates visual clutter such as ornaments, toys, or excess pieces of furniture to create a feeling of space and order.

Finish DIY projects
Unfinished DIY jobs could be used as a potential bargaining tool to negotiate a lower price. Most buyers will be looking to just move in, and will be reluctant to spend time or money completing your unfinished projects.

Redecorate where necessary
A neutrally decorated, well-presented house can add great value to your asking price. Invest in fresh paint to clean up scuff marks, or to lighten up rooms currently painted in a vivid colour which may not be to a buyers taste.

Neutral colours create a more soothing environment and allow the buyer to imagine their own style in the home.  If redecorating, grey or white walls & grey carpets tend to be popular now so likely to appeal to the mass market.

You need to be able to stand out from the competition on property portals so use brightly coloured soft furnishing, accessories & artwork in photographs to ensure your property jumps off the page!

Clean, clean and clean again
A sparkling, sweet-smelling home creates a good impression. Clean all bathrooms, the kitchen, polish windows, dust all surfaces, hoover the floors and make sure animal and cigarette odours are eradicated by removing cigarette butts and feeding bowls. Ideally pets should be removed too as some viewers may be allergic to cats and dogs.

Define the space
If you have 3 bedrooms they must be presented as 3 bedrooms, not 2 bedrooms and a box room. If you have a lounge and a separate dining area they need to be presented as such rather than a lounge and children’s playroom.

Furniture Placement
Minimal furniture will show off the space in each room, while allowing the buyer to imagine their own furniture in the property. Place living room furniture around the natural focal point in the room, such as a fireplace or feature wall.

Presentation
Try to see your property through the eyes of a potential buyer. Take photographs of each room and then look at them objectively. It will become obvious what needs to change, whether it be de-cluttering or re-positioning furniture. During viewings turn the lights on and display vases of flowers, bowls of fresh fruit and scented candles.

Lighting
Lamps, lamps, lamps! Every room should at least have one lamp in it to create mood lighting. This creates a homely feel and the perfect vibe for selling your home.

Kerb Appeal
Buyers will form an opinion within the first 5 seconds of entering a property so ensure the exterior of the property looks well maintained and welcoming. Tidy the garden, remove weeds, mow the lawn, hide the dust bins and park cars elsewhere. Add colour with plant pots or hanging baskets. Repaint the front door if necessary.

Hallways and Entrances
If a room is dark or lacking interest add a mirror. It will completely transform a space. Not only does a mirror reflect light, it mirrors the room, making it feel double the size. Allow potential viewers to literally ‘see’ themselves in the house by placing a mirror in the hallway. Tidy away all coats, shoes and bags to ensure it is clutter free.

Set the table
A set table helps to capture the imagination of the view. They can then see themselves holding dinner parties or sitting down with friends & family. It also looks fantastic in the photos.

Mentally move out
This is the most important thing you can do. You have decided to move on so do all you can to achieve a quick and profitable sale. Don’t worry if the presentation of your house is not to your taste as you’ll soon be moving on and can look forward to creating a space to suit you in your new home!

Don’t see staging your property for sale as an upfront cost. It is an investment. Spend a little to make a lot in the sale, You should achieve not only a quicker sale, but a higher sale price.

Example of property staged to sell

Next tips ... photography - make it professional

A Property for Cricket Fans

This property is unique being situated almost on the boundary of the local cricket ground, home to Surrey county matches and the annual beer festival. It is close to Dapdune Wharf too.  Just a 10 minute walk into the town centre one can visit shops, restaurants, pubs and the local mainline railway station without the need to have a car.

It was formerly the home of the groundsman but sadly his position was terminated and so the property has been left empty for several years.

A property for cricket fans

Comprising 3 bedrooms, bathroom, kitchen, dining area and lounge it has the potential for extension, as well as modernisation, as it sits on a corner plot, in order to make it into a lovely family home.

Romans are acting on behalf of Guildford BC as their agent and further details can be found at:
https://www.rightmove.co.uk/property-for-sale/property-78861638.html

If you would like to have a chat about property prices in Guildford or to discover where and how you can find your next residential or investment property, before it goes onto the portals, call 01483 320207 or email richard.hodgson@newman.uk.com

This document is for information only and should not be relied upon.  All details should be checked and verified with the owner and their professional advisors. We are not able to 
offer any legal, financial or tax advice. You should consult your solicitor and financial advisors for this.

An Oasis in Abbotswood

This property is a gem occupying a position to the far end of the Abbotswood Estate.

Situated within a short distance of highly regarded schools including George Abbot, it is ideally suited to a family requiring space to enjoy live comfortably. The property is within easy reach of the A3 to London and Portsmouth; and just one mile to the local railway station, at London Road.

The garden is landscaped and goes all the way down to the border with the local nature reserve. The main feature of the garden is the swimming pool, ideal for keeping cool and relaxed in this current warm weather. There are other leisure facilities nearby at Stoke Park and The Spectrum Leisure Complex.

The property is light and airy having been decorated in light tones. There are four good sized bedrooms including one en-suite. The property comes with a double garage and plenty of parking space on the drive way.

Keep cool in the swimming pool at this property in Abbotswood

Most importantly the property is now priced to sell at £850,000, comparing favourably with other properties on the Abbotswood Estate.

The property is on the market with our friends at Gascoigne Pees, in Guildford High Street. Further details are available at:
https://www.rightmove.co.uk/property-for-sale/property-73122890.html

If you would like to have a chat about property prices in Guildford or to discover where and how you can find your next residential or investment property, before it goes onto the portals, call 01483 320207 or email richard.hodgson@newman.uk.com


This document is for information only and should not be relied upon.  All details should be checked and verified with the owner and their professional advisors. We are not able to offer any legal, financial or tax advice. You should consult your solicitor and financial advisors for this.

Burpham or Merrow?

Guildford is a market town surrounded by an area of outstanding natural beauty so property owners have the luxury of country living but with local access to a shopping and business centre within the vicinity.

Two of the most attractive areas in Guildford are Burpham or Merrow so I am often asked by buyers which village would I recommend. This is a difficult question to answer because both locations offer a good quality of life providing a high standard of housing and excellent schools, shops plus local leisure facilities and transport links.

These areas are separated by the Guildford to London railway line via Cobham.

The village of Merrow is located in the north-east of Guildford, 2 miles (3.2 km) from Guildford town centre and situated on the edge of the ridge of hills that form the North Downs. Merrow can trace its origins back many hundreds of years when its name literally meant 'fat', "probably referring to the high fertility of the land". The village grew up around a crossroads at which the A25 road between Guildford and Leatherhead and the original road (Merrow Street), which would have enabled local citizens to travel from Burpham to Dorking, used to intersect.

The oldest houses in the village can still be seen along these two roads, together with St John's Church and the Horse and Groom, a 17th-century coaching inn next door.

Merrow remained a relatively small settlement right up until the 1950s, when the Bushy Hill estate was built. This development of several hundred houses was originally all council-owned, but since the 1980s, many homes have passed into private ownership.

Further expansion occurred in the mid-1980s when the Merrow Park development was built, completely surrounding the old houses on Merrow Street. Comprising several hundred houses and flats, Merrow Park is often considered a suburb in its own right as it has its own shops, school and doctor's surgery.

There are several exclusive roads in Merrow comprising Fairway, Levylsdene and Longmead all leading up to Guildford Golf Club and the North Downs beyond.

The median pricing for houses in Merrow is £500,000 though this might have increased slightly in the past year with houses on the Linden development, at Redland Close, having sold for up to £1.6m.

Merrow has experienced excellent capital growth over the last 20 years with most houses more than tripling in value, at around 365%.

Burpham is home to the largest secondary school in Guildford, George Abbot School, a parade of small shops, and the nationally recognised, Sutherland Memorial Park used for sporting and leisure pursuits.

Similarly to Merrow, Burpham has a mix of housing especially in the Weylea Farm and Weybrook Farm developments built more or less at the same time as Merrow Park. The jewel in the crown is Abbotswood, a conservation area located close to Stoke Park and built as a garden suburb in the Arts and Crafts Style by the notable architect Alfred Claude Burlingham.

The median price for property in Burpham is lower than Merrow, at £325,000. This reflects the many lower-priced starter homes and flats situated in the Weybrook and Weylea housing estates.

One of the reasons why Burpham tends to be a popular place to live for families is that it lies within the catchment area for George Abbott School so there is always a healthy demand for 3/4 bed houses. Burpham has experienced a capital growth over the last 20 years of 380% so achieving a higher capital growth than Merrow.

In conclusion it is therefore difficult to favour one area over the other but if you are a keen golfer then Merrow has to be your preference being the home to the Guildford Golf Club. From there you can walk onto the North Downs and over to Newlands Corner, the beauty spot made famous by Agatha Christie, when she mysteriously disappeared from there in 1926 to then be discovered in a Harrogate spa.

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

University Challenge

At this time of the year students have returned home from University, at the end of yet another academic year. Now is the busiest time of the year for landlords wanting to prepare their properties for the new group of students moving in for the next academic year.

Students are becoming more particular about the standard of their accommodation but are unable to afford to pay a premium unless Mum and Dad can help. One wonders how long Councils can afford to hold back on charging students Council Tax too. On the other hand landlords are suffering financially due to their loss of tax relief on mortgages and a propensity towards greater licensing and regulation, creating additional expense.

So it seems both students and landlords are facing a growing financial challenge.

Guildford is the home to the University of Surrey, University of Law, the ACM and Guildford College so has a substantial student population all wanting accommodation. The financial contribution they make is an essential key component to the wealth of the town. For example, in 2013/14 the University of Surrey generated more than £1.5 billion for the UK economy, with over £1.1 billion for  the county of Surrey.

The University created 17,500 jobs of which 10,000 were in the Borough of Guildford alone. The University hosts a range of events and activities that are open to the public, particularly in the arts, and has a range of programmes through which it connects with local schools and colleges. It owns the Surrey Sports Park, a world-class facility open to all and home to a range of local sports clubs and teams.

It is responsible for ensuring that all first year students have access to campus accommodation. There are over 5,500 rooms available on campus, at a range of rents from £71pw (budget rooms at Hazel Farm) to £225pw (studio) all inclusive. These rates compare favourably with market rental pricing.

The university has been building new student accommodation at its Manor Park campus since 2005 and is constructing its second phase of around 1,100 rooms, due for completion this year, to provide further accommodation. This will take the total rooms at Manor Park to around 3,000, but the university has planning permission for 4,000 rooms at the site and says it is therefore "examining the possibility" of building more rooms.

While this may seem encouraging the University is caught in a cleft stick because in order to raise funds, it has to attract more students. Over the last 5 years the full-time student population has grown from 13,500 to well over 16,000. According to its corporate strategy, the university plans to increase student numbers to 18,000 by 2022, and 23,000 by 2027, to place additional pressure on Guildford's housing market.

Second and third year undergraduates, in general, will always be encouraged to find their own accommodation within the Guildford private housing sector.

This means that landlords are buying up property in areas like Bellfields and Park Barn, once designed to house the local working population working on lower incomes. Other areas in prime spots close to both the University and town centre include Guildford Park Road, Woodbridge Road, Worplesdon Road and Westborough. These areas tend to offer comparatively low cost housing so for example, there are currently 136 3+ bed houses for sale in these areas, with prices starting from £300,000 for a 3 bed/2 rec property in Groom Walk, Slyfield, to a 5 bed detached house in Ridgemount, located just behind the university for £897,000. The median asking price for a 3 bed property in these areas is £450,000.

There are also 284 3+ bed rental properties, for family rental in the University catchment area, with a median rental of £2,300. Landlords will typically rent out properties by the room at a average room rental of £650 pcm so having converted a couple of reception rooms into bedrooms, or gone up into the loft or down into the basement to create a 5 bed rental property they can now charge £3,250, compared to the £2,300 for the family house to make an additional £950 per month. This obviously makes economic sense for them to do so, if planning to invest in the property for the long term.

However a recent report called "At The Limit - Student Housing Crisis" stated that over a 5 year period students have had to move further out to the fringes of Guildford town, including Merrow and Burpham, with markedly more students living in Woking due to this continuing issue of lack of property and excess demand leading to increasing rents. This explains why students tend to start their search for next year's accommodation as early as November in the previous year, so that they have a better opportunity to secure better quality homes at a reasonable price.

This issue will never go away if universities need more students to attract funds to finance further education to create skills to enable the working population to compete in the 21st century workplace.

The only solution might be for larger corporate housing developers to build student blocks to be leased back to the university, to provide accommodation for all students, whatever their year. Secondly, technology may help as it now allows for universities to deliver remote learning so that students will not necessarily have to live away from home in order to learn.

Artificial intelligence might also reduce the need to accommodate so many students and university staff in one locality, as it takes over some of the lower skilled roles; and also delivers educational content on demand. The University is currently working with 5G network architects and technicians to make this a reality.

Having considered these challenges Guildford still remains a wealthier and a more pleasant place to live in, for having resources such the University in the town but what price is the local housing sector having to pay to achieve this?

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.

A Charming Home in the Centre of Town

This clean and bright Victorian property, is just a stone's throw from the High Street.

It has been extended into both the attic and basement to create a third and forth bedroom to provide additional accommodation. There are two reception rooms. There is a cloakroom downstairs and the bathroom is situated on the first floor.

Victorian property modernised to a very high standard

The property has been completely modernised over recent years to include a kitchen with bi-fold doors leading out to the well kept rear garden where one can enjoy quiet Summer evenings after a long day at work.

The property is located between both railway stations so convenient for those working out of town. 

Our friends at Chantries are marketing the property. Further details are available at https://www.rightmove.co.uk/property-for-sale/property-81450806.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

Large family home overlooking The Chantries

This property has huge potential to be extended (subject to planning) to become a large family home having been in the same ownership for the last 50 years.

The front and rear lawns have been well maintained and the property looks fresh and clean though in need of modernisation.

Family property with views over The Chantries 

Located in a peaceful, rural surroundings it overlooks The Chantries yet is within a reasonable walking distance of the town centre so one will have ample parking at home without the need to drive into town. This will make it an ideal home for someone who therefore commutes up to London.

The property is being marketed by our friends at Knight Frank and with the asking price recently reduced by £100,000 will sell quickly.

Further details are available at https://www.rightmove.co.uk/property-for-sale/property-81869795.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

A Country Home in Charlotteville

This delightful property, built in 1869 is situated in an area of historic interest and just a 10 miinute walk from the cobble High Street. It has been tastefully modernised and decorated throughout so is ready to move into right away.

The front and rear lawns have been well maintained and the property looks fresh and clean.

Light and airy kitchen with doors leading out into the garden

Relax in the garden after a long day at work

There are two bedrooms and most importantly for a property of this age a bathroom upstairs. The property includes a workshop/shed out in the garden. This is well stocked with shrubs and therefore a delightful place to relax in the Summer evenings.

The property is being marketed by our friends at Seymours, in Guildford. Further details are available at https://www.rightmove.co.uk/property-for-sale/property-72554134.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

Post-BREXIT Buyers Gain the Upper Hand

Once upon a time the nation enjoyed a relationship with Europe as a member of the European Union. Like most marriages it had its ups and downs but on the whole the United Kingdom has benefited from the additional trade, skilled labour and freedom created by encouraging free movement of services and labour across former borders.

Then came along Mr Cameron, the Prime Minister with the idea that the country should have the opportunity to say whether it wanted to remain as a member of the European Union, or leave.

At the time of calling the referendum the Guildford property market seemed healthy with local residents enjoying the benefit of seeing their homes increasing in value. Not only was it possible to determine what price their property was worth but one could be fairly confident that having withstood the 2007-8 financial crash, property prices were likely to rise as the property market faced increasing demand but limited supply of property stock.

The question now is where has the decision to consider leaving Europe left the local property market?

Speak to any estate agent in town and they will state categorically that BREXIT has caused uncertainty so people are not selling. The fact that builders are currently busy extending homes across the town might support this statement as people have decided to stay rather than move.

Estate agents cannot blame the market. If it is not BREXIT there will no doubt be another cause to blame. People still need to move. It seems that around 80% of people will move locally so this would suggest the local housing market will always remain buoyant. Perhaps there are too many agents chasing business in the market now that online agents operate alongside the traditional bricks and mortar agents in the current sluggish market.

The referendum took place 23 June, 2016 so we have had 3 years to reflect on what the decision to leave the EU has done to the Guildford property market and your property value. For those who need a reminder the voting in Guildford was exit 43.8% and remain 56.2%.

Data from the Land Registry, suggests that the national average house price has increased from £212,887 to £228,903 which is an increase of 7.5%. The comparable figures for Guildford confirm an increase of 6.4%, from £420,033 to £447,211 suggesting that prices have shown a slightly smaller than national increase. The increase in value for detached properties, compared to other property types, in Guildford has been the highest in the 3 years since BREXIT, at 9%.

The significant factor seems to be, not the price at which properties are selling, but the reduction in the number of transactions taking place. There were 1919 sales, in 2016, but this figure reduced to 1760 in 2018. This 9% fall does seem to support the local estate agents' view that the market has slowed.

While this fall in transactions might seem significant the continuing increase in house prices though relatively low, suggests that Guildford does not have cause for worry. Local property owners, it seems, will always be certain to experience an affluent housing market.

However house buyers may just have the upper hand when negotiating a house purchase, as sellers are currently experience lower viewings and offers while the market remains uncertain, so may be more motivated to accept lower offers. With low interest rates and a smaller market for lenders to compete in, buyers will have access to a more competitive funding market which in turn might help to stimulate the market.

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.

First BREXIT, now a lower interest rate ... what is your exit plan?

After much conjecture and rumour we now know that the Bank of England has decided to half the base rate down to just 0.25%, after a period of 7 years in order to bolster the economy following the decision to BREXIT. This will inevitably benefit some mortgage payers and offer little, or no hope, to savers relying upon their nest egg for financial support during their retirement.

Figures produced by the Council for Mortgage Lenders suggest that the amount left to pay on each home loan in the UK is £116,000 and there are 11.1m households paying a mortgage. The calculation that will interest these mortgage payers is that yesterday's 0.25% interest rate cut will save them just £22 on a monthly mortgage bill of £779. The Office for National Statistics (ONS) calculated this figure based upon a typically priced home of £211,000 after paying a 20% deposit. The Bank of England has also put additional measures into place to ensure the banks pass this lower rate on to their customers.

Those on bank rate tracker mortgages will see an immediate affect because their loans vary according to the interest rate that goes up or down in direct relation to the Bank of England's decision to increase or decrease the bank rate. One in five mortgage holders have this type of loan.

The Bank's intention is to reduce savings to encourage consumers and businesses to make purchases and investments to boost the state of the economy. However, those who save their money to generate an additional income, rather than spend are the people to suffer. The current average interest rate on an easy access savings account is 0.65%. If savings are to reflect the reduction in base rate the interest paid on these accounts will fall to 0.4%.

So, for example, if a person has saved £10,000 in such an account, they will receive a measly £40 a year in gross interest, which is £25 less than before the cut. How can you live on that and what can you do to improve your financial returns?

No doubt there are many people in this situation especially here in Guildford where young couples bought their property in the 1970's and now in 2016 their mortgages are paid off; the family has flown from the nest and while they rattle around in their large house are wondering how to seek a high rate of return on their investments. 

One answer is to downsize and therefore take equity from their properties but no doubt this is the money that is sitting in their easy access savings account earning little interest. Secondly, they may have allocated their funds to property for their children helping them onto the first rung of the property ladder, when ordinarily this may not have been achievable without their parent's investment.

It is the combination of low savings rates and the lack of affordability in housing for first time buyers here in London and the South East, that is driving the housing market at present. In this case the answer to low savings rates may well lie in property and making it your investment vehicle.

It is a well-known fact that property typically doubles every 10 years. For those in Guildford it definitely has! My parents purchased a 3 bedroom linked detached house in Guildford in 1962 for £2,000. A similar house in the same street, sold last year for £520,000 which is considerably more.

Realising that this was the best and proven way to invest my savings I educated myself with the UK's leading property investors and became a member of a property mastermind group, sharing opportunities with, and providing support to, other property investors.

So if you are considering an investment decision or would like to have a chat in general about the Guildford property market please call 01483 320 207 or email richard@guildfordpropertyblog.co.uk