How do ex-council properties in Gosden Hill Road compare?

In previous articles we have found that ex-council properties can achieve both good annual yields compared to other types of property in Guildford of around 5.0%; and healthy capital gains. 

Park Barn had witnessed a capital gain of 266% in the last 15 years while Bellfields had experienced a lower, though still substantial capital growth of 221% over the same time period. Ex-council houses in Bushy Hill, Merrow had experienced 11% higher capital growth than its neighbour, Merrow Park, a mixed housing area comprising properties from one bedroom flats to 4/5 bed executive houses.

This article takes a look at another ex-council housing estate in Guildford, namely Gosden Hill Road and Glendale Drive, in Burpham. This is an attractive development having been built around a large green and backing onto woods. Burpham shops are located nearby and a bus runs through the estate, onto the Sainsbury superstore and then into town. The A3 Guildford to London trunk road is within easy reach too. Most importantly the estate is located within the catchment area of two excellent state schools, Burpham Primary School and George Abbott Secondary School.

Gosden Hill Road

One in 5 of the 168 houses in both Gosden Hill Road and Gendale Drive have been sold over the last 5 years. It is also interesting to note that only 25% of the houses in the area are now rented from the local council, as the rest are either owner-occupied or have been purchased by landlords.

Some of the most noticeable sales have been a three bedroom semi-detached property on Gosden Hill Road sold in 1999 for £138,500 which has since been extended by building into the loft to add an ensuite bedroom. It was last sold in August 2014 for £460,000, a 332% gain over 15 years.

Property with loft extension in Glendale Drive

Another property in the same road was also extended into the loft to add a fourth bedroom. This was sold in 2004 for £200,000 and then resold in 2013 for £408,050 so this proves that property can double on average every 8-10 years, especially when extended, ideally by doing a loft conversion rather than a more expensive brick extension.

Extended property in Gosden Hill Road

Overall prices have risen by 255% in both roads, over the last 15 years, so have risen by more than Bushy Hill Drive but once again, the most socially challenged area of Park Barn has still outperformed all other social housing estates when measured according to both capital gain and gross yield. 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

Why is Raymond Crescent so popular?

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

The Onslow Village Association acquired 646 acres of land from Lord Onslow in 1920 for approximately one quarter of its market value. The aim was to create a Garden City, modeled on the ideas of Ebenezer Howardís, the founder of the Garden City Movement.

It was their intention to build a self-contained community with smallholdings, public buildings, open spaces, recreation grounds, woodland and a railway, as well as developing sites for churches, hotels and factories. On May 1st 1921, ten weeks after the formation of the Association, the foundations of the first two houses were laid and by March 1922 ninety-one houses had been built. Unfortunately due to a lack of funding the scheme never reached full completion, with about 600 houses built.

The area now consists mainly of semi detached properties with the majority owner occupied, with 22% of the properties are owned by private landlords catering for both the substantial student demand from university students and young professionals. This is confirmed by the fact that almost one half of the houses comprise of three or more adults. The Census also suggests there is a 50:50 split between single and married occupants too and that a quarter of occupants are students.

Land Registry records suggest that the development was built in the 1930's, on the edge of Onslow Village. Raymond Crescent comprises 109 properties with a current average value of £358,076, compared to an average property value of £417,972, for the GU2 postcode area.

There have been 26 property sales on Raymond Crescent over the last 5 years with an average sold house price of £296,757. Most of the properties consist of three bedrooms, kitchen, one reception room and a bathroom often downstairs next to the kitchen. However many properties have been extended up into the loft area to enable one of the existing bedrooms to be utilised as a bathroom and then a third bedroom then recreated in the loft. Alternatively, owners have extended to the rear to provide a larger kitchen/diner and additional reception room plus a new and third bedroom and bathroom on the first floor.

Typical 3 bedroom houses in Raymond Crescent

A typical 3 bedroom house will realise at least £1,495 per month to provide a reasonable annual yield of around 5%. The modernised and extended properties will produce a rental of up to £1,645 pcm and therefore a higher gross yield of 5.5%.

Furthermore house prices in Raymond Crescent have increased by a substantial 10% in the last year and by 30% in the last 5 years so, as I always stated Raymond Crescent has to be one of the most profitable areas for local investors to purchase property because of the substantial demand for rental property in the street and the opportunities the street offers for development and therefore capital gains.

If you would like to talk to us about property in Raymond Crescent or a general discussion on investment opportunities in Guildford your call will always be welcome. Phone 01483 320207 or email richard@guildfordpropertyblog.co.uk

House on a good-sized corner plot on Burnet Avenue

This former police house is situated not far from Burpham shopping parade, Sainbury's superstore plus George Abbot Comprehensive and Burpham Primary School, which are both within walking distance. The property is situated  approximately 2 miles east of Guildford Town Centre. There is a road connection with the A3 in Burpham, which connects with the M25 orbital motorway within a few minutes drive.

House with large garden plot in Burnet Avenue

This 3 bed semi detached property is an attractive one because it will offer a developer the opportunity to profit from extending into the garden, which is a corner plot (subject to planning).

The kitchen/breakfast room is fitted with a range of modern, cream Shaker style units with high-gloss worktops and there is a modern shower room also on the ground floor, ideal for a family needing more than one bathroom. 

This property is likely to achieve a lot of interest from potential buyers wanting the potential of securing an immediate capital gain.

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-37895808.html

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

Doing your due diligence. Hilgay or Tormead Road?

A landlord came to our office for advice recently asking whether he should invest by buying a three bedroom house in a more affluent area within a short distance of the town centre.

We did some research and found a reasonably sized three bedroom townhouse, within an affluent area of Guildford, a short walking distance from the town centre, in Hilgay, a cul-de-sac off Cross Lanes. This could be purchased for £411,500 and then rented out at £1,475 per month, to achieve an annual yield of 4.3%. 

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

3 bed townhouses in Hilgay off Cross Lanes

Hilgay is located within a 10 minutes walk of the town centre with London Road railway station nearby, providing links to both Guildford mainline and all stations to London Waterloo. Stoke Park and the Spectrum Sports Centre are positioned across the London Road and there is access to Merrow Downs not far away. Active families are therefore able to enjoy both town and country life here.

A place on which to sit with neighbours on Tormead Road

We then compared the property in Hilgay with a more spacious and therefore bigger three bedroomed detached house on Tormead Road to determine if the landlord would gain more financially, by buying there. The two streets are five minues walk apart, located at either ends of Cranley Road. A 3 bedroom detached house in Tormead Road could be purchased for £749,500 and then rented out at £2,495 per month, to achieve an annual yield of 3.99%. 

Three bedroom houses in Tormead Road

While the rental on the property in Tormead Road is a thousand pounds more expensive the annual yield was similar. This shows that while properties can achieve a higher rent than others in the same geographical location it does not always suggest there will be higher returns for the investor. 

More importantly an investor could purchase an investment property in this desirable area, where there is high demand for rental property, for a lot less than they might have thought possible all because they have done their due diligence on what type of properties are available, and at what price, on various roads within a specific area. In this instance our landlord might have to forgo one reception room but who eats in a dining room nowadays?

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

Bungalow in Louis Fields will make a great development project

This delightful bungalow provides a wonderful opportunity not just to modernise but to extend up into the loft area to provide a third bedroom possibly with ensuite bathroom (subject to the usual planning consents). The last time it was for sale was over 70 years ago so needs to be brought up to modern day standards. 

Situated on the ever popular Fairlands Estate where there is a tremendous community spirit this semi detached two bedroom property is located close to a parade of shops and a bus route into Guildford town centre. 

2 bed bungalow on the Fairlands Estate

Bungalows with 3 bedrooms and modern kitchens plus bathrooms are selling for a premium of £100,000 over the asking price for this property, so a project of this nature would certainly make a viable investment whether by an investor buying to re-sell; or a family buying to live in for the long term. Whether this will ever be for a period of 70 years again, who knows. 

The property is being marketed by our friends at Mann, Woodbridge Hill, Guildford and further details are available at http://www.rightmove.co.uk/property-for-sale/property-37671288.html 

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

A property in Guernsey Close to suit a young family

This well presented three bedroom house, ideally suited to a young family, has recently come onto the market and it stands out from other local properties, having had a recently, refitted bathroom and kitchen so there is absolutely no work required other than to move in.

The property is an attractive link detached house situated in a cul de sac close to local shops, schools with local access to the A3 to London.

A wonderful 3 bed family house on Weybrook Park

The house is located on the popular Weybrook Park development not far from the local Sainsbury and LIdl stores plus the parade of local shops. Guildford town centre is approximately 2 miles away but there is a local and frequent bus service into the town centre. There is an excellent range of both private and state schools in the area including George Abbot Comprehensive and Burpham Primary School, which are both within walking distance. 

This property is therefore likely to sell soon especially as an investor can expect a gross return of 4.0% (typical for Guildford) if they achieve the market rental of £1,495 pcm.

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-52125538.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

You should have bought in Markenfield Road 10 year's ago!

All stations to Gatwick including Shalford, Chilworth ...

One of my property investor friends invited me over to Shalford, where he lives, to view "The Orient Express" while it was waiting to depart for a return journey to London Victoria.

The Orient Express at Shalford Railway Station, near Guildford

He made the comment that Guildford had five railway stations (Guildford, London Road, Shalford, Chilworth and Gomshall) and therefore wondered what affect they may have had on local house prices having recognised that the train line had originally been built to provide the only means of transport available for those living in smaller villages on the edge of Guildford, back in the 1800's (other than the horse and cart). 

Shalford became well known for "the Great Fair of Shalford" set up by a charter issued by King John. In its heyday, it was said to have covered 140 acres and attracted merchants from across the country.

The River Tillingbourne joins the River Wey at Shalford, adjacent to the parish church. For centuries, the river provided an important source of income for the village because it was used in industries such as gunpowder manufacture. Some claim that the author of The Pilgrim's Progress, John Bunyan, once lived in the village and drew his inspiration from the fair, and from the ancient route known as the Pilgrims' Way, which passes nearby, on its way to Canterbury.

The Genesis, singer/drummer Phil Collins had a home in Shalford named Old Croft, where he wrote music for his first solo album Face Value and also the Genesis album Duke.

Chilworth has an interesting industrial past. At various times in history it has been the location of a wire mill, a paper mill and gunpowder factory. Chilworth Gunpowder works was established in 1625 by the East India Company and finally closed in 1920. 

When looking at the local house prices in Shalford and Chilworth compared to Guildford what we found out about the villages was quite interesting. The average value of a property in Shalford is £630,477 which is just £109,153 more expensive than the average price in Guildford and £132,217 more expensive than the neighbouring village of Chilworth. 

The most expensive street in Shalford is Bradstone Brook where an average property is worth in excess of £1.17 million. The most expensive property in Shalford was a 6 bed house in Chinthurst Lane, sold for £2.35m this year.

The most expensive street in Chilworth is Sample Oak Lane where an average property is worth in excess of £1.87 million. The most expensive property in Chilworth was a 6 bed house in Sample Oak Lane, sold for £2.7m in 2012.

While the average house price in the more affluent postcode of Guildford (GU1) was slightly lower than in the neighbouring village of Shalford it still holds its head up as regards both the most expensive street and individual property. 

The most expensive street in the GU1 postcode area is Northdown Lane, situated off Warwicks Bench Road (reported on in last week's feature blog) where the average value is £2.96m. A 6 bed house with 5 baths was sold there for £2.76m in 2007 but is now worth approximately £3,756,000 and is therefore considerably more than the most expensive properties in both Shalford and Chilworth. 

Having lived in Shalford for the last 20 years my investor friend has seen his property price increase by 312% over this period of time. Property prices have risen by 315%, in Chilworth and 308% in Guildford respectively so there has been a slightly better appreciation in the villages than in Guildford but nevertheless it would appear that while the train enabled people to commute they still have a preference towards living in larger and more expensive homes, located close to Guildford town centre.

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 delightful family starter home on Weylea Farm

While there remains a shortage of properties on the market it is great to see a modern house like this in a popular school catchment area come up. It will have a strong appeal for young families wanting to move up the property ladder or an ideal property for an investor to rent out to such a family.

A family starter home in Weylea Farm

This is a well-presented home which has been extended to provide a superb open-plan kitchen/dining and family area, which is huge and no doubt the area where the family will spend most of their time, in the house. 

The house is located on the Weylea Farm Estate close to the parade of local shops in Burpham and the sought-after schools in the area that include Burpham Junior and George Abbot Secondary School. There are good bus services to Guildford town centre and access to the A3 is close by. There is also the local Sainsbury supermarket and the new Aldi store, both within walking distance.

The property is therefore likely to sell soon especially as an investor can expect a gross return of 4.8%, if they achieve the market rental of £1,795 pcm.

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-55804136.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