Guildford Property Market update - February 2020

It appears that the prospects for an upturn in activity in the property market have been realised since the result of the General Election was announced, according to data from activity on the Rightmove portal over the last month.

The UK Market

According to the latest Rightmove Price Index report there has been an increase of 2.3% in the price of property coming to market this past month; and over 1.3 million buyer enquiries since election, which is up by 15% compared to the same period a year ago, to suggest there will be an active spring market ahead. There has also been an increase of 7.4% growth in the number of sales agreed this past month as sellers have acted quickly to beat the Spring rush.

Furthermore there were almost 65,000 properties marketed between the 8th December and the 11th January, which is the largest monthly rise that Rightmove have ever recorded at this time of year. This suggests therefore that these new sellers are feeling a surge of optimism. The number of enquiries made to estate agents were also up by 15%, compared to the same period last year, to suggest demand was on the increase. This then led to a 7.4% increase in the number of sales agreed over the same period.

Whether this is a sign of the pent up demand being released will remain to be seen over forthcoming months but it does appear that some sellers have moved quickly as was anticipated over the Christmas and New Year period.

The Guildford Market

There were 23 additional properties added in the last 14 days mainly replacing those taken off towards the end of last year so have been relisted, and in some cases with a new agent in the expectation that they will have more success. Overall stock levels therefore remain constant although there do appear to be more detached properties currently for sale. The average asking price for this type of property has marginally increased too.

The number of properties taken off market having been listed for between between 2 and 4 months might suggest that a number of offers were accepted towards the run up to the end of 2019. Alternatively this might also confirm the point above that vendors decided to de-list and then relist after the news regarding the General Election and the start of a New Year.

The average time taken to sell properties in Guildford over the last 90 days remains at 154 days, with half of the sales taking place within 78 days.

According to the latest data from Land Registry (available up until November 2019) approximately the same number of properties sold at a slightly higher average price of £498,595 in Guildford due to more detached properties being sold in the last month.

Having talked with local residents there does seem to be greater confidence in the market about the prospects for selling their property in the short term though one overriding comment made was that they feared how the growth of Guildford property prices in recent years will challenge those wanting to get onto the property ladder or to upsize. Having said this, many residents are sitting comfortably having decided to stay in their homes for the long term and experienced wealth that they could never have forecast at the time they purchased their home.

See you again soon for next month's property update to discover whether this initial feeling of optimism, that the New Year and the release of some of the pent up demand have brought, will be realised with a growth in property sales over the forthcoming months.

To request a copy of the latest Rightmove Price Index report featured in this update, please call 01483 320207 or text 07786 965631. Always happy to have a chat about the local property market too.

Guildford Property Market Update - January 2020

Happy New Year to all our readers.

It is at this time of the year that we all look forward to changes for the better and one way to instigate these changes is to move home to create a new lifestyle for ourselves. It will therefore be interesting to see how the result of the General Election and the exit from Europe will boost house sales.

The UK Market
In their latest Property Index, Rightmove forecast a 2% price rise for the UK in 2020, now that there is a little more certainty following the General Election. Whether there is a pent up demand from the last 3 years of uncertainty remains to be seen. This may not appear until the Spring when listings typically increase as the days become longer.

They suggest that demand for property remains resilient but are understandbly worried about the lack  of supply. The number of UK sales agreed so far in 2019 is down by just 3% on 2018, while the number of properties coming to market was down by 8%. There are several factors to suggest that the market should pick up. Interest rates remain low, lenders are competing to lend, there is high employment and wage growth is making housing a little more affordable.

The Rightmove report therefore expects the number of properties for sale will recover as more new sellers come to market to make up some of last year’s lost ground. However lower stock levels are likely to place an upwards pressure on UK house prices.

Another concern is that first-time buyers are still struggling to save a deposit to buy their first home. If they are unable to get a foot onto the first rung of the property ladder this will hinder sales further up the property ladder. Solving this issue would help to limit rising rents and increase transactions in the housing market.

The Guildford Market
Property stock levels in Guildford have continued to fall, whatever the type of property or the number of bedrooms, by 19%, compared to this time last year.

There has been a slight increase in properties available for sale over the last month, possibly due to sellers knowing the result of the General Election and therefore more confident that they will sell this year. A few properties that did not sell last year have been relisted in the past fortnight.

If one were to look back at the year 2007 (pre-credit crunch) the change in stock levels compared to then are even more significant.

The time that vendors leave their properties on the market continues to increase though it is interesting to note that the number of properties spending between 1 and 2 months on the market (whether they sell or not) has decreased. This might suggest one of two things. Either the vendor was
curious to know whether their property might sell and so was a speculative listing; or more importantly they managed to sell.

The average time taken to sell properties in Guildford over the last 90 days has been 154 days, although half of the sales did occur within 78 days.

Asking prices have continued to increase over the past month by between 1-2% ... but have sales prices also increased?

According to the latest data from Land Registry (available up until Oct 2019) over the last 12 months there was a slight decrease of 1.4% for all properties in Guildford. Detached fell by 0.9%; semi-detached by 0.5%; terraced by 1.1%; and flats by 3.7%.

Is this because agents have been over confident in their original valuation, as suggested by the number of properties on the property portals, with reduced prices; or have buyers had success in negotiating prices down? This confirms again that prices can only be determined by what the market is prepared to spend.

See you again soon for next month's property update when we expect to see further certainty assuming there is progress in the BREXIT negotiations; and an increase in property listings now that owners have returned to normality after the festive season.

To request a copy of the latest Rightmove Price Index report featured in this update, please call 01483 320207 or text 07786 965631. Always happy to have a chat about the local property market too.

Good debt or bad debt?

People often come to me concerned that the return on their savings is so small now that interest rates are at an all-time low. They are therefore challenged to find a home for their money where they will attract a higher rate of interest.

When I ask, "Well, have you considered 'property' as the home for your money?" they tend to retort, "Does that only work when you have lots of money?"

This is because we are all brought up to believe that you need at least a 20% deposit to buy an investment property and then a mortgage to fund the remainder of the purchase price. Yes, this does apply when using your own funds but there is an alternative way to invest.

Robert Kiyosaki developed the idea of good debt/bad debt in his popular book, "Rich Dad, Poor Dad".

Firstly, the mortgage on your own home is considered to be "bad" debt. This means that you have to pay the amount owed on the mortgage out of your own hard-earned income over a period of (say) 25 years when hopefully your finances will be in order at all times. Sadly, many property owners will go through a period of their life when times will not always be financially sound for them. For example, it's a sad fact but at least one in three people get divorced. Many people will be made redundant at some point in their working life too. So unless, there is a safety net there may not always be sufficient income to cover mortgage payments every month for the 25 year term.

When debt is used to fund property investments it is considered to be "good" debt. "Why is that?", I hear you ask. If your property investment is a rental property, your tenants are paying for your mortgage. This debt is called "good" debt because you are investing in an income-producing asset. Once your tenants have paid their rent to cover the cost of your monthly mortgage payment plus utility and Council tax bills (if you pay for these) any remaining money is profit, having allowed a percentage of this income to cover professional fees, maintenance, insurance and tax.

Investment property is therefore an income-producing asset, while the purchase of a residential property provides accommodation but no profit (unless you rent out a spare room).

The second concern that people often have is that you need vast sums of money to be able to invest in property. The answer to this is two-fold. In the first instance you should not invest too much cash in one property but use cash to afford a number of properties in order to spread your risk and secondly, to make your money work harder for you.

Few people will have hundreds of thousands of pounds lying around in their bank account and if they do, they are surely not receiving sufficient interest at today's rates to make this a practical thing to do. This means that all property investors, however wealthy they may have been, will eventually run out of personal funds to invest unless they are educated, professional investors who therefore know how to work round this challenge.

Successful property investors offer their network of contacts a golden opportunity to generate a higher rate of return on their funds. These returns will far-outweigh those earned by leaving their money in the bank; and they will have have had the pleasure of sharing in the success of a number of property ventures without having to spend time educating themselves in property investment methods.

When investing your own funds into property it is always wise to invest in a property that can be purchased below the typical market price i.e. at a discount. If this is not possible then one should add value by increasing the number of bedrooms to provide a higher rental income. This may be achieved simply by converting a reception room into a bedroom; or by converting a loft into a bedroom. Then the property has the potential to realise additional value so that the property can be remortgaged to provide the funds required to repay the investor.

As with all investment decisions professional advice should be taken and due diligence carried out.

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.

Guildford Property Market update - December 2019

This month is when we look forward to the New Year and of course, this will not only be the start of a new decade but a time of great uncertainty.

Now we know that the general election is to be held on Thursday 12 December the nation is hoping that the matter of BREXIT will be resolved once and for all, so the country can experience more certainty.

Looking back over the past year, asking prices in Guildford have continued to rise across the board, as have property values. Values increased by 4.61% in GU1, 2.39% in GU2 and 4.65% in GU4 respectively.

The number of properties for sale has fallen on average by 29% over the last year; and the time spent on the market has decreased but only marginally. There have certainly been very few new listings since the end of the Summer period when houses were either completed on or removed from the portals because the sellers were possibly speculative and had therefore decided to stay put.

The general trend appears to be for properties to be listed at an ambitious price only for the owners to become disillusioned by the lack of interest in their property, blaming BREXIT and the uncertainty in the market.

The good news is that buyers are still having to move and as stated last month, the number of transactions agreed is only marginally lower this year compared to last. There is likely to be a pent-up demand waiting for the outcome of the general election so house prices are likely to  continue to rise.

Most recent sales data from HM Land Registry

Rightmove have also made the point that those liable for stamp duty on their onward purchase, may be waiting to see whether stamp duty will be reformed to reduce the cost of moving. However Boris Johnson seems to have gone quiet on his proposal to change stamp duty.

As regards the future who can tell what will happen in the local property market. The only constant seems to be that there will always be a requirement to move as people experience changes in their lifes, creating the need for houses to always be bought and sold, especially in desirable areas with good schools, like Guildford.

In the meantime Guildford Property Newsletter wishes all its readers a Merry Christmas and a Happy Year so to finish this update on a festive note here are some events coming up during December for you and your family to celebrate the holiday season.

Spend Christmas at Guildford Castle on Saturday 7th December to enjoy the traditions of Christmas time past. Follow King Edward III and Queen Philippa of Hainault as they proceed up Guildford High Street to Guildford Castle to celebrate Christmas with much noise and mirth!

Participate in the Santa and Elf Fun Run to support Phyllis Tuckwell Hospice Care on Saturday 14 December.

See you again soon for next month's property update. To request a copy of the Rightmove Price Index report please call 01483 320207 or text 07786 965631

Do investment decisions require divine presence?

When speaking to a local landlord recently about buying investment property in the streets surrounded by Rydes Hill, Aldershot Road, Northway and Shepherds Lane he had two questions. The first was why are the roads named after cathedral cities - Canterbury, Durham, Peterborough, Lincoln, Gloucester and Worcester; and secondly would it make sense to buy more investment properties in these roads?

When finding an answer to his first question it did make me wonder. No doubt the streets were named many year's ago but did they have a link to the town having its own cathedral?

Guildford Cathedral, built between 1936 and 1961, is the seat of the Bishop of Guildford.

Guildford Cathedral

Guildford residents have always wondered why the town has not been granted city status. Traditionally this is given to towns with diocesan cathedrals, an association established in the early 1540s when King Henry VIII founded dioceses in six English towns and granted them city status by issuing letters patent and has continued to this day. As of 2014, there were 51 cities in England.

Guildford's 2002 application to be granted the status of a city was unsuccessful, losing out to Preston, the only English town that was formally recognised as a city as part of the Queen's Golden Jubilee celebrations.

No information as to why these streets should be named after cathedral cities in England so one must assume that the local authority named them for no other reason than to celebrate these other cities.

This area attracts landlords because the properties have been relatively inexpensive to purchase and are located within travelling distance of the Surrey Research Park, the University of Surrey, the hospital and the town centre so are suitable for students and young working professionals happy to share their accommodation with others.

Properties in the area covered by Durham Road, Lincoln Road, Canterbury Road, Worcester Road and Durham Close typically comprise 3/4 bedrooms and are currently valued at an average of £337,053. This is an increase of 361% over the last 18 years. Average rents are £1,995 pcm though landlords charging by the room will receive an estimated monthly rental income of between £2,400 and £3,000 depending upon whether they convert a reception room into a bedroom.

Keeping to the theme of cathedrals, Cathedral Close located close to the cathedral and behind the University campus is therefore ideally situated for the tenants living in the roads discussed above.

However the properties located here and in the adjoining road, Ridgemount, are owner-occupied family homes. The average price for a 4 bedroom property here is £840,900 and a typical rental is £2,500 pcm so the gross yield in the roads named after cathedral cities will be nearly three times greater than for the properties in Cathedral Close and Ridgemount.

However, we must remember that yield is not the sole consideration when investing in Buy to Let properties. When compared to the capital growth of 4 bedroom semi-detached properties in the cathedral roads area the properties in Ridgemount have risen by 390% over the same period. Some may say that this is due to divine intervention because Guildford Cathedral overlooks Cathedral Close and Ridgemount but no doubt the reason for the higher capital growth has to be supply and demand.

Nevertheless the landlord would be wise to buy in the roads named after cathedral cities as his objective to maximise gross yield will be realised while gaining capital growth at the same time. History has proving this so there is no need for a miracle to take place.

Guildford Property Market update - November 2019

This month I am taking a look at the current market plus the weeks leading up to Christmas and the New Year. There is some good news too for homeowners with properties currently for sale.

Rightmove have just published their monthly House Price Index. This provides some encouraging news. When comparing today's housing market with the market a year ago the figure for the number of sellers is down by 13.5% due to the unsettling nature of the market putting off speculative sellers. Meanwhile buyers seem just as determined to buy so the number of sales remain virtually unchanged compared to the same time last year.

The number of sales falling through is also at its lowest since 2015 possibly because there are fewer speculative sellers currently on the market. This means that the more determined sellers have less competition for their property from other sellers. Buyers also have less negotiation power, now they fewer properties available to them so sellers should realise a sales price closer to their asking price.

The current market is price sensitive due to the uncertainty around BREXIT and the upcoming General Election. There is some thought that now is therefore a great time for sellers to prepare their property for listing in preparation for selling early in the New Year. Many sellers make plans during the Christmas break for the New Year. These often include selling their current home to move on in their life.

Taking the initial steps required to list a property now, rather than in the New Year will ensure sellers not only take advantage of the lack of speculative sellers but also benefit from a possible pent-up demand leading to a price rise, due to the General Election result and hopefully, a final decision being made on BREXIT.

This is why there is good news for current sellers willing to consider re-listing their home in order to attract new and more committed buyers.

And now for an update on the Guildford property market ....

Guildford has fallen in line with the conclusions arrived at in the Rightmove report. Property stock fell again in October with overall stock levels falling fractionally.

Asking prices for Guildford property have decreased up to 1% during the past month but sales prices for all property types increased slightly, with the exception of semi-detached properties. This might be because the asking prices were a little higher at the time these properties first came onto the market, typically during the Summer period.

Properties were on the market, for an average of 147 days rather than 157 in October 2019. Three bedroom houses and properties between asking prices of £500,000-1,000,000 typically spent less time on the market than properties in all other price ranges.

As we approach the end of the year the market does appear to be slowing down, as suggested by the Rightmove report. However there do remain signs of potential sales growth as buyers stay on the market and now that the General Election has been called, now really is a good time to consider listing your property.

See you again soon for next month's property update.

To request a copy of the Rightmove Price Index report please email richard.hodgson@newman.uk.com or call 01483 320207

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

One of the most frequent questions asked by those starting out in the world of property investment is "when is the best time to start investing?" The response from experienced investors tends to be "10 year's ago". I suppose this is based on the assumption that properties are assumed to double in price every 10 years. The secondary response is "and if not 10 year's ago, the answer is now!"

How are landlord's properties performing?

One of my more established landlord friends has been investing for 10 years so was interested in discussing how his investments in Markenfield Road had performed during this period. I suggested we look at both the sale prices and rental figures achieved for properties in the street during this time. Then we could determine how the gross yield had changed as a result of these price changes.

Markenfield Road

This is a well established street situated opposite the cricket pitch, where Surrey County Cricket Club have played in the past. This pitch is also home to the annual Guildford beer festival. The street is located within a 10 minute walk of Guildford town centre

The properties in this street were built in Edwardian times, all to a similar design. Most comprise of 2 reception rooms, a kitchen and three bedrooms plus bathroom. Many have been extended by moving into the cellar or up into the loft to provide an extra bedroom plus bathroom. Several houses have been extended out to the rear to provide a larger and more modern kitchen.

Ownership status

The last census suggests that half the properties in the road are owner occupied and approximately a quarter are privately rented, so is popular with landlords. In fact one sixth of properties are occupied by more than 3 people suggesting that they are multi-lets.

The majority of owner occupiers are in professional or managerial roles, between the age of 30 and 44 with many being single. The number of degree educated people living here is also greater than the average number in streets local to Markenfield Road. This might have something to do with the proximity of the bars and restaurants in the town centre plus The Stoke Pub and Kings Head pub, at the top of the road. 

The figures

Returning to the figures the average value of a typical 3 bed semi terraced house on Markenfield Road was £245,250 in 2005. This figure had risen sharply to £360,395 by 2007 but dropped back to £335,950 for two years before recovering in 2010. Prices have continued to rise with the average value now standing at £469,900. A house in the street has recently sold for £524,950, a 214% increase in 14 years.

Then the landlord stated that the rents he had achieved on Markenfield Road seemed to be fairly stable over the ten years. In 2005 the average rent was £1,535 per month but is now between £1,695 and £1,850, dependent on the size and quality of the accommodation provided so rents have risen by just 10-20%. 

This is all great news for the landlord because his investment back in 2005 would have achieved a gross yield of 8% and now that rents have increased he is achieving 8.3% where as a landlord investing at today's current prices in Markenfield Road would achieve a gross yield of only 4% i.e.50% less. If the new landlord were to rent out to sharers he might increase his gross yield to 5.5%. 

The answer

It therefore seems that the maxim that states the best time to start investing was 10 year's ago is therefore true. Just imagine what the yield would have been if one had invested (say) 50 years!

If you would like to have a chat regarding property prices in a specific street and how they compare with prices elsewhere in Guildford or to just talk about investment opportunities in general your call will always be welcome. Phone 01483 320207 or email richard.hodgson@newman.uk.com

Six home selling myths debunked

As you go through life you will always find that people are always there to give their advice of opinion whether it's asked for or not. Selling your home is no different. You will discover that suddenly everyone wants to get involved in the process.

Here are six home selling myths uncovered to help you get the most out of the process.

The best time to sell is in the Spring

While homes do sell in Spring they also sell in Summer, Autumn and Winter. The truth may be that people can't be bothered in the Winter so prefer to wait a few weeks until the days are lighter and the weather is brighter. However there is not a best time to sell your home.

You can sell your home by yourself

While estate agent fees may make your toes curl up, going solo can actually be more difficult. There is more to selling a home than just creating a fancy-looking advert. You will also have to arrange viewings; market your home; establish relationships with potential buyers; and filter the offers. Estate agents may get a bad reputation but ultimately they are professionals at selling homes.

Noisy locations are a turn off

Houses near roads and train stations are actually very popular these days as they tend to be  close to transport links and buses. In addition to this window glazing is so advanced nowadays that you would rarely hear traffic noise once inside a property.

Upgrades need to involve major works

People massively overspend on DIY projects in the kitchen and bathroom when in reality so long as these rooms are not too outdated and appear clean potential buyers don't care. Simple improvements often provide the best results so tidy up the front garden, recondition the front door and give the living room a fresh lick of paint.

Price your property high and then reduce the price

This is one of the most common mistakes sellers make. If they price their home too low they might  leave money on the table but price it too high and you could miss out on offers. Instead of pricing your home with space to negotiate you should price your home at what it is worth.

Make the buyer wait

When you receive an offer you should reply straight away. When a buyer makes an offer that buyer is ready to purchase your home. Moods could change and you don't want to lose a sale because you stalled in replying. Some people believe that waiting to reply puts you as a seller in a better negotiating position but that just isn't the case.

Buying a property is a big decision and can be daunting and confusing but hopefully the confusion between fact and fiction has been solved. If you have any questions please get in touch today.

Call 01483 320207 or email richard.hodgson@newman.uk.com

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

Guildford Property Market update - October 2019

This month I am taking an in depth review of the local Guildford property market to determine to what degree market and agent sentiment relating to BREXIT has had an affect on stock levels, time on the market plus asking and sales prices.

Here is the video version of the blog.

This is how the market looked in September, 2019.

There is a greater stock of houses in the price range £500,000 to £1,000,000 with 4 bedrooms, whose average asking price was £784,905 compared to other properties for sale. There were slightly more semi-detached houses than detached prices on the market last month too. Might this suggest that owners are wanting to sell in order to upgrade perhaps to a detached property?

Property stock - what is available?
Compared to 12 month's ago the housing stock has definitely decreased, by as much as 30%. This was especially so for flats (31%) and terraced houses (27%).

Asking prices
If you have found a house that you would like to buy does it represent good value for money? Comparing it with the prices in the tables below will help you to determine if this is the case.

Asking prices have increased for all properties overall by 6%, though flats were the only specific property type to see an increase. They increased by 10% with vendors selling all other property types asking for the same, or less than they were 12 month's ago.

What is selling quickest so where is the demand?
There were 412 properties on the market, in Guildford, over the last 90 days, taking on average 135 days to sell although as many as half of these properties took less than 64 days to sell. Those properties between asking prices of £400,000-500,000 typically spent less time on the market than properties in all other price ranges, once again suggesting that this might be the "sweet spot" regarding affordability.

Three and four bedroom houses tended to take less time than other property sizes. This applied to semi-detached properties especially suggesting a higher demand for 3/4 bedroom semi-detached houses in the £400-500,000 price range.

The time vendors left their properties on the market, when unsold compared to 12 month's ago, seems to have increased suggesting they were prepared to wait longer to secure a sale. This applied especially to vendors selling semi-detached properties.

Sales prices - are these going up or down?
House buyers want to know if prices are decreasing to determine whether it will be wise to wait in the hope that prices will continue to fall; or if prices are increasing sellers are typically waiting to sell their home in the expectation that they may be able to realise more for it and therefore move to a larger home later on.

When comparing the most recent sales prices available, in July 2019 with those 12 month's ago these have all increased, except for flats which fell by 5%. Semi-detached showed the highest sales price increase at 9%.

No of properties sold - are properties selling?
There were dramatically fewer sales in July 2019 compared to July 2018. Semi-detached house sales fell by a substantial 63%, detached house sales by 37% and flats by 35%.

In conclusion the market does appear to have slowed, whether this is down to people's uncertainty about the future of the property market due to political reasons, or not. However people are still managing to buy and sell property, even though it may be taking longer to secure a purchase as there is no doubt some have to move, when life changes for them.

If vendors demand they sell for the highest price, and in the shortest time possible then the only way to achieve this is by pricing their property at a realistic price; presenting it so that it becomes desirable to their market; and by creating an effective marketing strategy.

Receive 5 fresh ideas to achieve this by making contact today.

If you would like 5 fresh ideas on how to sell your property call 01483 320207 or email richard.hodgson@newman.uk.com

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

All these stats are available at https://www.home.co.uk/guides/house_prices.htm?location=guildford

The writing is on the wall ... in Guildford

Prefer to watch the video?

People have always wondered to what extent having a blue plaque adds value to a property. To be awarded an official English Heritage plaque, the proposed recipient must have died at least 20 years ago.

Britain's blue plaques celebrated their 150th anniversary in 2016. Most are handmade in Cornwall by the Ashworth family. Frank and Sue are highly skilled artisan craftspeople who have been making the plaques since 1984. Using special tools, clays and glazes they have made plaques to celebrate the lives of Jimi Hendrix, John Lennon and Alfred Hitchcock.

While most plaques are found on London homes, Guildford is fortunate to lay claim to having several notable figures living in the town who have lived in properties now adorned by a blue plaque. One of these was Alan Turing, recently commemorated on the new £50 banknote.

Alan Turing, the mathematician, computer pioneer and code breaker, was largely responsible for the modern computer and helped to crack German codes while working at Bletchley Park during the Second World War.

Alan Turing, the founder of computer science

The inscription found on the plaque at 22 Ennismore Avenue, Guildford states that this was “the family home of Alan M Turing (1912-1954) founder of computer science”.

Turing was aged 15 when his family took up residence in Guildford. Alan Turing’s parents moved to Guildford in 1927 when they bought number 8 Ennismore Avenue, off London Road, opposite Stoke Park, following his father’s retirement in 1927. When further houses were built in the avenue, all the homes were re-numbered so number 8 became number 22.

Although away at school for long periods of time, Guildford gave Alan his first proper home allowing him to join the family for long walks in Stoke Park and on the North Downs. Alan developed an interest in astronomy spending many hours at his Guildford home star gazing up and drawing the night sky. He continued to visit the family home whilst he was at university, in Cambridge.

The plaque was unveiled in July 1988 by the actor Derek Jacobi, who had appeared as Alan Turing in the play "Breaking the Code" which premiered at Guildford’s Yvonne Arnaud Theatre.

Having mentioned Yvonne Arnaud, Germaine Yvonne Arnaud (20 December 1890 – 20 September 1958) was a French-born pianist, singer and actress. She had dramatic roles and made films in the UK during the 1930s and 1940s, and continued to act into the 1950s. The Yvonne Arnaud Theatre was named in her memory, when it opened in 1965.

Yvonne Arnaud, the singer and actress celebrated by the local theatre

She lived at 35, London Road, Guildford for the last two years of her life. Her ashes were scattered in St. Martha's churchyard on St. Martha's Hill and there is a memorial to her in the church grounds.

Daphne Frances Jackson, OBE was an academic. She lived at 5 St Omer Road from 1972 until her death in 1991.

The home of Daphne Frances Jackson, O.B.E.

Although a nuclear physicist she actually rose to fame when she became the first female physics professor in the UK, having been appointed by the University of Surrey, at the age of 34. She eventually became Dean of the university.

Lewis Carroll was one of several authors recognised for living in Guildford. Lewis Carroll lived 1832-1898 and was best-known for the nonsense children's classics "Alice's Adventures in Wonderland" and "Through the Looking Glass".

Lewis Carroll (or the Reverend Charles Lutwidge Dodgson as he was really known) moved the Dodgson family to Guildford and into The Chestnuts, near the castle ruins, in 1868.  He was constantly in Guildford to visit and wrote the second Alice book, "Through the Looking Glass", on one of these stays in 1871.

He died in 1898 and after a funeral service at St Mary's Church was buried in the cemetery on The Mount - where his grave and the memorial cross erected by his brothers and sisters can be seen. 

Lewis Carroll's home "The Chestnuts", Castle Hill

While there was a plaque to celebrate his home in Guildford, installed on one of the entrance pillars to the driveway, this was not an official one and has since been removed.

However there are two pieces of public art dedicated to the author in the town. These are a statue of Alice and a rabbit disappearing down a hole by the river, and a metalwork of Alice going through the looking glass in the castle grounds.

Alice in Wonderland

Alice Through the Looking Glass

Another famous author to be born in Guildford was the humourist P. G. Wodehouse. He was born on October 15th 1881 and lived at 59 Epsom Road, now converted into flats.

An unofficial plaque to celebrate PG Woodhouse, living in Guildford

He was the third son of a British magistrate based in Hong Kong, so his parents in fact lived in Hong Kong. However his mother was visiting her Sister in Guildford when he was born prematurely. He was then baptised at St Nicolas' Church in the town centre, with the first names Pelham Grenville.

Wodehouse wrote more than 70 novels and 200 short stories, creating numerous much-loved characters including the inimitable Jeeves and Wooster.

George Bernard Shaw was another Surrey resident having lived in Hindhead and then at Piccard’s Cottage located to the west of Guildford in Sandy Lane, between 1900 and 1902. Built in 1878, the house was converted into two houses (Piccard’s Rough and Piccard’s Wood) in 1958 but the blue plaque remains on view from the road.

George Bernard Shaw lived at Piccards Cottage for two years

It is in no doubt that blue plaques add prestige and historical interest to a property. They are cherished by their current owners, knowing that their home was once lived in by a well-known Guildford celebrity. Whether they add value to a property is not known, as those properties that remain as they were when occupied by their famous residents, have not been sold for many years and so there are no sales records on the Land Registry.

Having said this the properties tend to be large homes set in attractive locations so will increase in value over time, as the Zoopla figures suggest.

If you would like to talk to us about the Guildford property market and prices please feel free to call me on 01483 320207 or go to https://instantvaluation.newman.uk.com/ to discover how much your property is worth today.

Realise the benefits of having your property re-valued every 6 months

We all know getting your home valued at different points in your life is important. This is especially important if you are trying to sell or are planning to sell in the future, but most people don’t realise you need to re-value every 6 months or so, to really reap the benefits.

The market can change quickly
The valuation you arranged is unlikely to be accurate if more than 6 months old, because the market (which tends to determine the value of your home) changes all the time. If you plan to move, or want to know the latest trends occurring in the local property market, to make an informed decision, it’s time to get a new valuation.

Guildford has gained from a 200% growth in property values over the last 20 years.

To build equity
If you haven’t arranged to have a valuation done for a while, you may discover that the increase in your property value over recent years, has created enough equity for a deposit on another property. This does not suggest you leverage yourself to the hilt, but it is useful to know how much equity you possess, particularly if you have considered moving, or are thinking of purchasing a property as an investment.

Are you considering some major renovations?
If you are, it’s also a good idea to get a property valuation to work out whether or not you might be over-capitalising your property. If you find a good valuer or estate agent, they should also be able to advise you on what kind of extension or refurbishments will add value to properties in your area, if you have thoughts of adding value to your property before moving in the long-term.

Making renovations to your home because it’s something you really want – like a walk-in wardrobe - is all well and good, but it might be an idea to keep in mind the potential resale value of your property before you proceed. For example, making a walk in wardrobe out of a third bedroom could detract, rather than add, to the value of your property if you live in an area where demographics are weighted towards families.

Maximise your war chest but do not over-capitalise your home compared to others in the area

Re-mortgaging your property
A preliminary valuation will help you work out what percentage of your property you own, and whether you can get a better deal. If your mortgage is up for renewal, you should definitely know the value of your home to give to your mortgage provider; and to support you in your negotiations to achieve a favourable mortgage and repayment terms. They will double-check the value, so ensure you get a professional valuer, to provide a more accurate figure.

So, act now. Get your new home valued to stay informed and up to date with your options.

How can you find a good property deal in Guildford?

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

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

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

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

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

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

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

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

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

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.

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.