Bushy Hill property in need of cosmetic improvement

This semi-detached 3 bedroom property is ideal for a family or an investor because it offers spacious accommodation including a sun room and downstairs shower room in addition to the living room, kitchen/dining room plus three bedrooms and a bathroom upstairs.

The property also offers a garage and driveway to provide off road parking. There is no ongoing chain.

A property in need of a light refurbishment in Hillfield Close

This property will therefore sell quickly to those looking for a minor refurbishment project and a house situated in the catchment area for both Bushy Hill Junior School and George Abbot or St.Peters Catholic Schools.

There is a regular bus service running on a circular route into Guildford town centre and onto Surrey County Hospital plus Tesco or to Merrow then Burpham and the Sainsbury's store.

An investor wanting to maximise their rental return from the property could do so by converting the garage into a bedroom to provide 4 bedrooms. In this instance the potential gross rental will be £2,450 pcm to deliver a healthy gross yield of 7.5%, compared to the typical rental for a single let which is likely to be in the region of £1,595 pcm. 

The property is being marketed by Gascoigne Pees, from their Merrow office and further details are available at http://www.rightmove.co.uk/property-for-sale/property-34526712.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

A magnificent property in Homestall

This four bed semi-detached house is located in Park Barn so is close to major employers on the Surrey Research Park and the Surrey County Hospital plus the University of Surrey. It will therefore attract both families and professional plus student tenants.

There is one reception plus a substantial modernised kitchen/diner with utility room and downstairs WC. One of the bedrooms is ensuite. There is a garage for those who travel by car and easy access to the main London to Portsmouth A3 trunk road and the back roads to Bagshot and the M3.

An extended home ideal for a large family or an investor

This house will comfortably house a family with 3-4 children. Alternatively an investor wanting to maximise their rental return from the property could do so by converting the garage into a bedroom to provide 5 bedrooms. In this instance the potential gross rental would be £3,050 pcm to deliver a gross yield of over 9%, compared to the typical rental for a single let in this area which is likely to be in the region of £1,895 pcm. 

The property is being marketed by The Express Agency in Manchester and further details are available at http://www.rightmove.co.uk/property-for-sale/property-34121529.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Well presented family home close to schools in Bushy Hill

This three bed semi detached property is located on Bushy Hill Drive within the catchment area of Bushy Hill Junior and George Abbot schools and is close to the shops in Merrow.

If you need to travel further then the house is on the regular bus route into the town centre and to Burpham where there is a Sainsbury store.

There are two spacious reception rooms, large kitchen with some integrated appliances and a utility room off the kitchen. On the first floor there are two double bedrooms, a large single bedroom and a three piece bathroom with integrated shower over the bath. Externally the property offers a generous sized tiered rear garden and side access from the front of the house. 

A family home located to schools in Bushy Hill

The house is both suited to a family and to an investor. The typical rental for a property of this size and location is £1,495 pcm so an investor will attain a gross yield in the region of 4.8%.

The property is being marketed by our friends at  Cavender, at their office in Epsom Road, Guildford and further details are available at http://www.rightmove.co.uk/property-for-sale/property-50506888.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

The Power of the Bedroom in Guildford

A developer came to see me the other day to discuss the "price of the bedroom" - no, not how much to rent a room but what capital gain could he achieve by providing an additional bedroom.

Gain £250,000 by adding a bedroom

In simple terms we discussed a process where an investor can acquire a property, then remodel or extend it to add a bedroom, then resell the property at a higher value. The aim is to therefore make a profit once all legal and building costs required to complete this task have been deducted.

Realising that there is substantial demand for family houses in Guildford, especially in catchment areas for the higher performing state schools, I suggested why not review the average price for both 3 and 4 bedroom houses to determine how much this additional bedroom could add to the price of a typical 3 bedroom house.

A typical 3 bedroom house before adding a bedroom

The average asking price for a typical 3 bedroom detached property is currently £425,000. There are some fine examples of these properties in Beechcroft Drive, located close to the University and Surrey Research Park. The average asking price for a typical 4 bedroom is £675,000, therefore providing a difference of up to £250,000. This is the potential price of a bedroom. There are some typical examples of this type of 4 bedroom property located in and around Burpham close to George Abbot School, which is highly rated.

A similar property with an extension to provide a fourth bedroom

The trick is obviously to purchase a property "in need of modernisation" or better still with planning permission granted already. A property requiring modernisation is ideal for those new to development because less experience is required. All that is required is possibly a new kitchen, bathroom, boiler plus decoration and some gardening to realise a profit. 

If a large room with two windows is not available to split into two separate rooms to provide a further bedroom then a loft extension is an economical way to add an ensuite bedroom to provide the price uplift required. More experienced developers might add an extension to provide additional living accommodation plus another bedroom.

The developer was correct in stating that one should always have a number of exit routes when investing for capital gain. If he takes the option to keep a property having added a bedroom would it be worthwhile holding onto the property and therefore letting it instead? 

The average rental for a 3 bedroom property is currently £1,650 pcm and a 4 bedroom property is £2,150 pcm so once again there is a positive differential in favour of a 4 bedroom house. The four bedroom house will deliver an additional rental income (assuming no voids) of £500 pcm which equates to £150,000 (before inflation) over 25 years, the typical lifetime of a mortgage. This should be sufficient to cover the building costs.

However the investor will want to know how quickly they will see a return on their investment. They will therefore calculate the gross yield to determine the answer to this question. The gross yield based on the figures quoted for a 3 bedroom property is 4.7% whereas the figure for a 4 bedroom property is a lower 3.8%. 

This means that it will take longer to see a return on the investment for a 4 bedroom than a 3 bedroom house and this is likely to be the case always, as one can only experience either capital gain or excellent cashflow - rarely both at the same time.

To chat about this opportunity, or any other property opportunities in Guildford, please call 01483 320 207 or email richard@guildfordpropertyblog.co.uk 

If only jobs could pay the same as Guildford property

Queen's Drive - a popular road with HMO landlords

These properties are popular with landlords because they offer so much accommodation at a reasonable price. They are townhouses built on three floors so they provide several rooms ideally sized for converting into additional bedrooms, to rent on an individual basis.

For example, this 3 bedroom house has the potential to add a further two rooms and even a third to make 6 rooms, if the garage is converted into a habitable room. This would require the buyer to apply for an HMO license from the Council. 

A 3 bed townhouse can be converted into an HMO, in Queens Drive

This property is priced competitively as it is in need of modernisation. However it is ideally situated to provide students a reasonably short journey to the University and professional sharers a bus route into town, to the mainline station, for trains to London. The A3 is only a 5 minute drive away.

There is a parade of shops including a fish and chip establishment plus a local Sainsbury mini supermarket nearby too.

This property is therefore ideal for an investor prepared to spend on modernising the property in exchange for achieving a yield in excess of 10%.

The property is being marketed by Callards, Worplesdon Road, Guildford and further details are available at http://www.rightmove.co.uk/property-for-sale/property-54832424.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

If you love pink kitchens you will love this house in Easington Place

This four bedroom end of terrace property has scope to extend to the rear, subject to planning. 

Eashington Place is a delightful little cul de sac located off Maori Road, highly regarded as an affluent area within walking distance of the town centre and Pewley Downs allowing you to enjoy both town and country life. The property is a short distance from London Road railway station too for those who need to travel up to the City.

A four bed house near to Maori Road with potential to extend

The property is configured with an integral garage, cloak room, kitchen, living room and staircase leading to the first floor landing. The kitchen has an appealing kitchen with pink work tops. The space upstairs is sufficient to provide for four bedrooms including a master bedroom with shower room. 

This would therefore make an ideal property for a family wanting to upgrade their accommodation with the potential to extend at a later date.

The property is being marketed by Gascoigne Pees, in the town centre and further details are available at http://www.rightmove.co.uk/property-for-sale/property-36570357.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Versatile living at Bannisters Road

This property is situated in Bannisters Road, one of the most attractive streets in Onslow Village and is ideally situated for the local schools including Queen Eleanor's and Onslow infants. 

Popular with commuters also, due to the proximity of the mainline station (London Waterloo is approx 38 minutes), Guildford town centre is also close by offering a comprehensive range of shops, restaurants and bars with the hospital and Surrey Sports Park within a short distance. The A3/A31 are easily accessible providing access to London and the South Coast. 

House in Bannisters Road offers flexible room layout

The property is rather special as it offers tremendous potential to either a landlord or homeowner. This is because it has been extended to provide a four bedroom semi-detached home offering spacious family accommodation including an adaptable ground floor layout with the option to have an annexe to accommodate an elderly relative or a foreign student, for example.

The accommodation is modern and well decorated comprising a number of rooms downstairs in addition to the kitchen/breakfast room and living room. These include a family room, study and dining room to offer the buyer tremendous flexibility in the layout downstairs.

The house should rent out for £2,500pcm to provide a reasonable gross yield of just over 4.7%.

The property is being marketed by our friends at Meldrum Salter Edgeley, whose offices are in Guildford High Street and further details are available at http://www.rightmove.co.uk/property-for-sale/property-51671503.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Refurbishment required in Sheepfold Road

This property is located in an area popular with young familes and those who have lived in the area for a long time so it has a well established community.

Householders are therefore proud of their local area and so they tend to keep their properties in a tidy state. It is for this reason that this property is now in need of modernisation. The previous owners no doubt lived in the house for a long time and so the house decoration and fittings reflect this.

House in need of modernisation,in Sheepfold Road

The house is being offered with no onward chain so an investor that can move quickly will have an excellent opportunity to make a capital gain once they have performed the work required. There might even be the opportunity to extend the house into the loft area, as we know that this has happened in some of the neighbouring properties.

The property is being marketed by Gascoigne Pees, Worplesdon Road, Guildford and further details are available at http://www.rightmove.co.uk/property-for-sale/property-36532773.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Property development in Guildford - a game of snakes and ladders

Property development in Guildford ~ a game of snakes and ladders

A local developer came to see me recently to seek my thoughts on purchasing a property to refurbish and then sell. While the Guildford property market is currently in healthy condition with prices continuing to rise he was looking for a property that he could refurbish and extend in order to raise the value significantly. This would enable him to remortgage using the new valuation so that he could take out all, or most, of his initial investment, to invest in further projects.

Having made it clear that he would obviously have to consider both the planning and financial implications of his proposal first, by seeking professional advice, I then went on to relate two examples of refurbishment projects to him, to illustrate how projects can proceed in practice.

The first was a delightful Victorian property on the edge of town so within reasonable travelling distance of both Guildford and Woking. The house was situated on a large plot surrounded by fields and woods. It offered huge potential for an investor wanting a restoration project to work on. 

The owners had recently extended the property to provide 3 reception rooms downstairs plus a substantial kitchen area and 4 bedrooms with 2 ensuite bathrooms upstairs. There are also a number of outbuildings that could be put into practical use subject to the usual planning conditions. However the work had not been completed due to the owner's circumstances changing. For example, the kitchen was not fitted and the house had not been redecorated.

Having been purchased in 2010 for £690,000 and had a lot of the work completed the house was then placed on the market for sale at the price of £1.5 million, in 2014. Since then the asking price has dropped to £1,100,000 yet still the property remains unsold. If the property is sold it should go for a price more than it was purchased for in 2010 and should cover the cost of the development works but it is unlikely that the owner will realise a profit.

By contrast one developer purchased a run down property in one of my favoured investment areas, Bellfields, spotting the potential instantly. The property was a 3 bed semi detached house in need of modernisation and updating. It was purchased for £250,000, in August 2012.

Before modernisation and extension works

After modernisation and extension works

Single story extensions were built to the side and rear to provide a family room plus a large kitchen/diner area and a new utility room. Then a bedroom with ensuite was built into the roof to provide a fourth bedroom. The house was fitted with a new bathroom and kitchen and redecorated both in and out to completely refurbish the property. 

Prices in the GU1 postcode have risen by 16.4% during the last three years, so the house should have sold for just £291,500 but it was in fact sold for £475,000, to realise a capital gain of 90% over this time period.

If the house were purchased and then rented out to a family as a single let the investor would have gained a 4.9% gross yield or more, if let out to sharers now that the house could accommodate tenants in 5 bedrooms, when using one of the reception rooms downstairs.

My passion lies firmly within the residential property market, so whether you are searching for a reasonable gross yield or capital gain, please talk to us at any point if you want to chat about investment opportunities in the Guildford area.

Please call 01483 320 207 or email richard@guildfordpropertyblog.co.uk for a chat about where to invest in the local area.

The perfect family starter home in Martin Road

This is a practical property for purchase, or rental, that offers adequate accommodation ideal for a growing family. It is offered at a reasonable price compared to most 3 bedroom semi-detached properties in Guildford and provides a spacious plus well appointed kitchen/diner with conservatory leading out into a large garden where children can play in safety whatever the weather conditions. There is a garage and driveway too.

Martin Road is a located on a quiet no through road within 1.5 miles of Guildford town centre and close to local junior schools. There is a Sainsbury convenience store nearby with buses travelling into town at regular intervals.

Starter home in Martin Road

There is sufficient room to extend to the side of the property should the buyer want additional space to house a growing family or for an investor to accommodate more tenants.

The house should rent out for £1,500pcm to provide a reasonable gross yield of 4.6%.

The property is being marketed by Seymours, in Worplesdon Road and further details are available at http://www.rightmove.co.uk/property-for-sale/property-51621004.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Potential to create an HMO to earn 10% gross yield in Coppice Close

This is a tremendous property offering great potential for an investor with the resources to extend the property to the side and rear (subject to seeking Planning Permission and Building Regulations) in order to create a House of Multiple Occupation and therefore a healthy rental income.

Located in Park Barn it is well located for both professional tenants working at Surrey Research Park or the Surrey County Hospital; and for student tenants studying at the University of Surrey.

Potential to extend to create an HMO

There is a substantial 21ft kitchen/dining room ideal for tenants wishing to relax while eating or watching TV plus 3 bedrooms upstairs.

If extended the house should provide up to 5 bedrooms let to 5 people to generate a typical monthly rental of circa £2500 to deliver a gross yield in excess of 9%.

The property is being marketed by our friends at Callards whose offices are on Worplesdon Road and further details are available at http://www.rightmove.co.uk/property-for-sale/property-54692096.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Earn a 5% gross yield in Keens Park Road

I tend to recommend properties closer to the town centre of Guildford but this property stood out because it offers a practical start for an investor. The house is of reasonable size but very reasonably priced compared to a typical price for a 3 bed house. There is no work required as the property has a relatively modern kitchen and bathroom. The property is decorated in neutral colours ideal for a rental, or for a buyer who does not want to spend time on DIY.

Earn a 5% gross yield on this end of terrace property

Tucked away down a quiet residential road and set back off the road the property is situated on the edge of open countryside so provides a pleasant environment in which to live. There is a view over the South Downs from the first floor. However there is easy access to the Bagshot Road leading to the M3 motorway or a cross country route over to the main London to Portsmouth A3 trunk road.

There is a garage plus two allocated spaces and on road parking making it easy for car owners to park.

The house should rent out for £1,350pcm to provide a reasonable gross yield of 5%.

The property is being marketed by Gascoigne Pees, in Worplesdon Road and further details are available at http://www.rightmove.co.uk/property-for-sale/property-36423510.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

An ideal investment rental property with 6.7% gross yield in Beech Grove

This is a tremendous property offering great potential for an investor having already been configured to maximise the number of rental rooms by utilising a reception room downstairs as a bedroom and by adding an ensuite bedroom in the loft area to make a house of multiple occupation ready to rent out (subject to having a licence which is necessary because the property comprises 3 floors and will accommodate 5 people or more, from 2 or more family units). 

Some expenditure might be required to install the necessary fire safety, prevention and protection devices to comply with the current regulations.

Located in the ever popular Beech Grove not far from the Tesco superstore it is in an ideal position to rent out to both professional tenants working at Surrey Research Park or the Surrey County Hospital; and to student tenants studying at the University of Surrey.

The property has 3 bathrooms providing plenty of washing facilities for all the occupants.

The property is being marketed by our friends at Townends whose offices are in Guildford town centre and further details are available at: http://www.rightmove.co.uk/property-for-sale/property-33713094.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

If only jobs could pay the same as Guildford property

Last week, a landlord came to discuss the rising property values in Guildford having reflected over the past 6 month's events while on holiday. He mentioned three events in particular. 

1. The influx of foreign investors buying in Guildford; 
2. The increase in the number of investors moving out of London to areas like Guildford due to sky high prices in the capital; and 
3. The General Election and the affect this has had on the property market.

He owns a varied portfolio of rental properties, primarily in Guildford, so thought it would be interesting to compare the increase in property values in the area to those in London plus England and Wales; and to discover how property price increases might compare to weekly pay in his area.

Does it pay to work or to invest in property?

The average weekly gross income estimate for GU1 is £1,210 compared to £850 in GU2.

Over the last 6 months the average property value in Guildford has risen by nearly £29,057, from £504,636 to £533,693. This is a very reasonable 5.76% increase which equates to £1,118 per week. So while a house price increase will not go directly into the landlord's pocket, he can be reassured that his properties in the GU2 postcode area have risen more on a weekly basis than the size of the average weekly gross income for this area.

The increase in Greater London average house prices was higher at £1,226 per week than they were 6 month's ago, though the percentage increase was fractionally lower than Guildford at 5.41%. This may not be considered significant enough to suggest a major change in house prices compared to those in Guildford but is encouraging nevertheless.

Average house prices in  England and Wales rose by a more modest average increase of £345.65 per week which still remains positive, in the knowledge that prices are now more or less returning to their pre-2007 level, following the financial crash that year. 

The following table shows comparative prices issued by The Land Registry for house sales over their last 6 month period.

When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable during the last 6 months but he, like other property landlords in Guildford, have therefore gained from a very reasonable appreciation in the value of their assets and would therefore be wise to keep hold of them for the foreseeable future, to benefit from further capital gains, while this trend of price increases continues.

If you would like some advice about buying to let and Guildford property prices in general then call me for a chat. Your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Back to School - a Lesson in Guildford Property Buying

House in Walnut Tree Close requires a complete modernisation

What can one say? This property is in a complete need for refurbishment so if you are looking for a project this is the one for you.

The location is ideal for the property is situated on Walnut Tree Close, 10 minutes walk from the Guildford mainline railway station. 

There is also the potential to create a significant profit, if the project is completed to a high standard. A neighboring property was re-modernised and sold on towards the end of last year for £425,000. The asking price for this property is just £299,950.

House in need of modernisation at a price to sell

It comprises two reception rooms and two bedrooms so has sufficient rooms to become a family home to purchase or rent for those wanting to commute up to London, or who work in the University which is situated within just 5 minutes walk of the house. There is a bathroom and a small kitchen which needs to take up the area used by the current dining room in order to provide the facilities demanded by today's lifestyle.

Some properties have been extended locally to accommodate the bathroom at the rear of the kitchen to allow for the third bedroom to be put back into use, as it was previously designed.

The property is being marketed by our friends at Townends whose offices are on the Epsom Road in Guildford town centre and further details are available at: http://www.rightmove.co.uk/property-for-sale/property-51543877.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Family rental situated directly opposite Bushy Hill Junior School

This is a three bedroom semi ideally situated for a family purchase or rental. It is a clean, modern and well presented house which should rent out for about £1,500 pcm and therefore achieve 4.5% gross yield.

It is situated in a convenient location close to Bushy Hill Primary School, the local shops in Merrow Village and is on a regular bus route to and from Guildford town centre. 

Merrow is a popular area and Bushy Hill is growing in popularity so this house is likely to sell fast. Property prices are rising here at a greater rate than other areas of Merrow so if this continues there is likely to be significant growth to be gained here too.

3 bed semi opposite Bushy Hill Junior School

The property is being marketed by our friends at  Seymours, Burpham and further details are available at http://www.rightmove.co.uk/property-for-sale/property-36297447.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Property ready to move into on Manor Road

This property is a well presented extended Victorian character semi-detached house situated in Stoughton with a regular bus service to transport you into town. There are a number of infant and junior schools nearby and so the area tends to be popular with young families.

The ground floor accommodation comprises of an entrance hall, cloakroom, lounge, dining room, lobby, utility room, plus a good sized kitchen/breakfast room which takes advantage of natural light in a glazed area to the side of the house.

3 bed semi in Manor Road

Upstairs there are three bedrooms and a family bathroom. There is also a large rear garden featuring a timber decked sun terrace, area laid to lawn plus a garden office for someone preferring to work from home. However the A3 trunk road is within 5 minutes drive of the property to provide access to both London and Portsmouth.

The house comes with a garage located in a local block.

An investor could let this property as a single let for approximately £1,600 pcm to generate a gross yield of 4.8%. 

The property is being marketed by Callards, on the Worplesdon Road and further details are available at http://www.rightmove.co.uk/property-for-sale/property-36213159.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Well maintained property in Bushy Hill Drive

This is a well presented semi-detached home with scope to extend to the rear or in the loft area (subject to planning permission) with a well maintained large garden. The bathroom has a modern jacuzzi-style bath with shower and the kitchen has been recently modernised. 

Located in Bushy Hill popular for local schools including George Abbot and St.Peter's Secondary it is situated close to the local shopping parade in Merrow Village and on a bus route into the town centre and then onto the Surrey Research Park and Surrey County Hospital. The A3 trunk road from London to Portsmouth is a few minutes drive away.

Well maintained 3 bed house in Bushy Hill Drive

The family can entertain themselves by taking advantage of the local Spectrum leisure complex offering a variety of sporting activities or having nearby access to Merrow Downs.

A landlord could expect to earn a gross yield of around 4.5% or a capital gain by extending. The property next door has already been extended into the loft so a precedent has been set.

The property is being marketed by Seymours, Burpham office and further details are available at http://www.rightmove.co.uk/property-for-sale/property-51512692.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

An investor's dream in Larch Avenue

I love this property as it is a beautifully modernised 5 bedroom terraced house in an area popular with investors due to the potential return available here compared with other Guildford locations.

An investor's dream property in Larch Avenue

The ground floor offers a spacious lounge, shower room, kitchen/diner and an attached studio which contains a kitchen area, bathroom and lounge/bedroom whilst the first floor delivers four double bedrooms and family bathroom.

This will make an ideal property to accommodate professionals including a couple who could rent the self contained studio. It has its own front door. The remaining four tenants will have access to both a bathroom and shower room. The kitchen/diner is of sufficient size to provide for cooking, eating and relaxation so the lounge could be reassigned to being used as a 6th bedroom in order to maximise the rental potential of the property.

This room configuration would generate a rental income of up to £3,600 pcm. The house is reasonably priced so the attainable yield is a whopping 10%.

Hipps are therefore marketing a genuine investment opportunity. Further details are available at: http://www.rightmove.co.uk/property-for-sale/property-54501116.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

Back to School - a lesson in Guildford property buying

Some parents came to see me because they were concerned about where they should live in Guildford to ensure their son and daughter could receive the best primary school education possible but also the most affordable property. 

They were well researched having located the website www.schoolguide.co.uk to compare school results but were not familiar with the area so I suggested they pick two schools, one on either side of town to compare house prices, rentals (should they require somewhere temporary while they settled into the area before making a decision on where to buy) and capital growth.

They selected two state schools out of the 60 listed on the website for Guildford, Woking and surrounding villages. These were Queen Eleanor's Church of England School, in Onslow Village and Bushy Hill Junior School, in Merrow.  

Queen Eleanor 's School was rated 9th out of 60, with a 4 star grading confirming that it was a good school, while Bushy Hill School was rated 30th, with a 2 star rating suggesting some improvement was required. 

The catchment areas for these two schools were relatively small so the parents could consider the prices, specific sizes, styles and locations in some detail and most importantly what would be available within their budget of £500,000.

Housing in the catchment area to Queen Eleanor's School has the advantage of being located closer to the mainline station and town centre so is popular with parents working in town, or commuting up to London and down towards Portsmouth. The area includes Onslow Village which has a parade of shops and a village hall to support the local community. 

Our research discovered that  the average price for a property in this area was £500,000 exactly. This amount would afford a 3 bedroom detached house in Beech Grove, on the Ashendon Estate, approximately 15 minutes walk to the school and 10 minutes walk to the Tesco supermarket, hospital, Surrey Research Park and University campus.

3 bed detached in Beech Grove, Ashenden Estate

When repeating the same exercise for the Bushy Hill School catchment area I advised the parents that while Merrow Village was two miles from Guildford town centre it was on the edge of Merrow Downs and Clandon Park, providing green space in which to walk, run 
and cycle plus there was a busy parade of shops, doctor surgery and sports facilities in the village. 

The average property price in this area was higher at £635,000 but when looking for a house priced close to the parent's budget, we found a 3 bedroom semi detached house for the asking price of £519,950 in Burpham, about a mile from Merrow and the school.

3 bed semi-detached in Burpham

Market rental prices were then studied. The average rental for a 3 bedroom property in the Queen Eleanor's catchment area was £1,650. There is currently a 3 bedroom Victorian semi-detached house on the market at this price, in Agraria Road, just 10 minutes from the railway station. The average rental for a similar property in the Bushy Hill School catchment area was £1,425. An example of this was a 3 bed terraced property in Gilliat Drive, on the Merrow Park development adjacent to the school.

It therefore appears to be a little cheaper to rent in the Bushy Hill School catchment area but fractionally more to buy in this area.

As the parents were not investing in property but buying for their own use, they had no interest in yields, so this left the final consideration "what capital growth could they expect in years to come?" 

I advised them that the only way to answer this question was to consider the capital growth experienced in the past to help provide a guide for the future. The average property price for a house, in the Queen Eleanor's School catchment area in 2001 was £227,200 and in the Bushy Hill School catchment area the respective figure was £343,200. 

This confirms that while the price of property located in the Queen Eleanor's School catchment area is typically lower than in the Bushy Hill School catchment area, it has in fact grown faster, by a factor of 20%.

Whether this trend will continue is not known but as average house asking prices in Queen Eleanor's School catchment area were up to £100,000 less than in the Bushy Hill School catchment area, this might suggest that this rate of price increase could continue for some years to come until the disparity is reduced.

This means that the likelihood that lower cost housing is likely to be located around a lower ranked school is not always the case.

Our research has shown that not only will Queen Eleanor's Junior School deliver a superior education for the parent's son and daughter but a potentially more affordable house purchase too. Furthermore the area could have the potential for greater capital growth than the Bushy Hill School catchment area.

A lot of house for your money in Hillview Crescent

Considerable work has gone into the renovation of this property in order to deliver a modern 4 bed semi detached house with excellent living accommodation in an area close to schools, for a reasonable price. It is located in a quiet crescent off the Aldershot Road so provides a pleasant environment and easy access to a local parade of shops and bus routes into town and to the Research Park, University, Tesco and the hospital.

Ready to move into, at Hillview Crescent

This is a very well presented home with accommodation over three floors and includes a large kitchen/diner leading out into the garden, utility room, lounge, family room on the ground floor; three bedrooms and family bathroom on the first floor; and then having extended into the loft space, a further guest bedroom with en suite.

If rented out for £1950 pcm a typical yield of 5% should be a viable proposition.

Hipps are therefore likely to sell this house very quickly as there is no work required except to furnish the house.

Further details are available at http://www.rightmove.co.uk/property-for-sale/property-50868452.html

If you would like to have a chat about property prices in Guildford or a general discussion on investment opportunities in the area your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk