Ex-council properties in Guildford ... are they good buy to let investments?

Have your property cake and eat it?

It is common knowledge that many landlords purchase their investment properties in Bellfields because they have found that these ex-council properties can achieve good, annual yields of around 7%. This is especially so if they take advantage of the typical layout and design of these properties. 

Most are built with an outhouse where coal would have been stored in the old days; or alternatively an outside toilet. Those investors that have demolished this outhouse have been able to build a substantial extension in its place to provide an additional utility room, toilet and reception room and if a two storey extension, an ensuite bedroom upstairs.

6 bed HMO delivers 14% gross yield

Investors in Houses of Multiple Occupation (HMO's) have taken this process one step further by modifying a 3 bedroom house on Hornbeam Road, for example, to convert a downstairs reception room into a bedroom to provide a total of 4 bedrooms and then extend out to the rear to enlarge the kitchen to create a larger communal area and two further bedrooms. They also managed to squeeze a shower unit into each bedroom to maximise their rental from the property. 

Their rental income amounted to a staggering £4,200 pcm, compared with a typical rental of £1,350 for a similar 3 bed property down the street that has not been extended. This investor would have paid (at current asking prices) £360,000, so is achieving a remarkable gross yield of 14%. This obviously does not account for the investment required to extend the property but no doubt the increase in property value (estimated to be £450,000) has enabled the investor to remortgage and therefore take most of his money out of the property to provide a very healthy return on cash invested.

While this opportunity will deliver an extremely healthy cashflow the next question to ask is "would the capital growth for this property in Hornbeam Road be typical of that experienced by Guildford property taken as a whole?"  

What is the capital growth in Grange Rd compared with Hornbeam Rd?

How does capital growth compare for these 3 bed houses compared with Hornbeam Rd?

When sold prices for Hornbeam Road are  compared with those for similar sized 3 bed semi detached properties in nearby Grange Road and Princess Mary Close, Queen Elizabeth Park, built in 2003, the following figures, suggest that the answer is a resounding "yes".

The growth in capital for the houses in Hornbeam Road was 200%, Grange Road was 169% and finally Princess Mary Close was just 132%.

While the ex council estate property may have been considerably cheaper to purchase 11 year's ago it's growth rate would suggest that the demand by investors and owner occupiers for these properties has increased and therefore pushed prices up over this period. However they still remain cheaper than properties in the surrounding areas and will therefore remain attractive to investors especially if they are keen to create an HMO as the landlord quoted above did so successfully.

It therefore does seem that you can have your property "cake" and eat it!

If you would like advice about what could make a good investment, please call 01483 320 207 or email richard@guildfordpropertyblog.co.uk

Monopoly in Guildford ... How would you play?

A couple of local landlords and I had a discussion about the property market in Guildford, when the subject of risk versus returns arose. We concluded that all landlords are different in the way they play the property game.

Guildford Monopoly Board

One group of landlords is interested in high returns, with a greater risk as regards to the quality of the tenant, so they much prefer the student market. They tend to invest in cheaper property where they can convert reception rooms into bedrooms to maximise their yields substantially.

Other landlords have a preference towards accepting a modest yield/return on their investment in exchange for an increased certainty of finding a quality tenant. They therefore tend to invest in smaller, terraced properties in the centre of town but away from the university, in order to attract the young professional tenant.

Landlords preferring the safest route typically invest in high quality houses within commuting distance of the town centre to attract families wanting access to decent schools including St Peters, in Merrow and George Abbot, in Burpham, for example. 

We also assumed that these landlords were more likely to be accidental landlords having to move away from their current home, for example, while working on a contract located elsewhere, here or abroad. They would therefore be letting out their own home and so they would be happier knowing that so long as their mortgage payments were being covered, they would gain potentially from relatively higher capital gains over time, because their properties were situated in the more desirable areas of the town.

We therefore determined that before these landlords started playing monopoly, it would be a good idea for them to have a game plan to determine what sort of property and area would best suit their investment objectives.

For a low risk investment they might buy in either Burpham or Merrow. Weylea Farm, Burpham, for example, is a popular area for families to rent property as it offers modern housing of all sizes, all built within recent years and located within the catchment area of local schools. If an investor were to purchase a 4 bedroom house in Selbourne Road, off Sutherland Drive, they would achieve an annual yield of no more than 4.2%. 

If a landlord does not mind a slightly higher risk of void periods, or a more varied quality of tenant, they are likely to be rewarded with a higher annual yield, of around 4.8%. This level of risk can typically be taken with Victorian terraced houses around the centre of town, along the Woodbridge Road. For example, Markenfield Road and Dapdune Road attract young professionals because there are local pubs including the Kings Arms and The Stoke, at the end of the road.

If they are a property investor attempting to maximise their rate of return then one of the most profitable areas in Guildford town centre, will be Guildford Park Avenue where annual yields of 7.9%, or greater, are achievable. However investing in this street will potentially be more of a risk as many of the properties here are houses of multiple occupancy. This suggests they have 3 floors, which many of the town houses on this estate do, and accommodate 5 or more people, from 2 or more families. 

This area is sandwiched between the university campus and railway station so attracts students who are often seen staggering home on the nearby Guildford Park Road, returning after a late night at bars and clubs on this side of town. This has created noise pollution which has therefore attracted the attention of the local council.

Secondly, this type of property will always remain an HMO and so never realise the level of capital gain that a property would do in Selbourne Road. Secondly, the property in Guildford Park Avenue is worth less at an average price of £314,788 compared to £523,791, for Selbourne Road.

The game of monopoly therefore very much depends upon a landlord's objective. Do they want to maximise rental income or capital gain? What is their attitude towards risk?

To discuss how much your property is worth or where you should make your next property investment in Guildford, call me for a chat on 01483 320 207 or email richard@guildfordpropertyblog.co.uk

Should you invest in Guildford or a local village?

Many of our landlord contacts live in the beautiful villages surrounding Guildford (GU1) so are always intrigued to determine what the average property values are in both the villages and the town centre and how these could affect their annual returns/yields.

The average terraced house in Puttenham, for example, is worth £335,743, whilst terraced houses in Guildford are worth around 19% more with an average of £400,116. The same was found for the value of an average semi-detached house worth £407,829 in Puttenham, with the value increasing by 2% in Guildford at £416,684. For a detached house in Puttenham, you can pay approximately £792,969. This value is increased by 15% in Guildford, with average values of £915,704.

The Good Intent, Puttenham was first mentioned in the 1861 census.

If you want to invest in property located in the picturesque village of Shere then there is a premium to be paid. Terraced properties are worth on average £422,050 an uplift of 5% over prices in Guildford town centre; semi-detached properties attract a substantial premium of 29%; and detached properties are typically 16% more than detached properties in Guildford.

The White Horse, Shere

If you are a landlord looking to buy property to let, before you buy in Puttenham, Shere or any GU postcode village, you should consider the possible annual returns/yields in Guildford compared with these villages. The gross yields are typically quite low, at around 3.3%, in both Shere and Guildford where properties are typically more expensive compared to Puttenham where the gross yields are 15% higher at 3.8%.

It is quite clear that if you are looking for a high yield, Guildford or the local villages, are not the areas for you to invest in but if you are looking for capital growth the see-saw is definitely in your favour. Average selling prices in Shere have risen by a whopping 340% since 1995.

Furthermore your property will be surrounded by stunning scenery, and located close to popular scenic sites like Newlands Corner and the Silent Pool. The quaint picturesque village of Shere is popular with walkers as well as being a favourite location for filmmakers with scenes in Bridget Jones, The Edge of Reason and The Holiday being filmed here so you are guaranteed the high living lifestyle even though you may not be a Hollywood mogul in reality.

If you would like to know how much your property is worth or where you should make your next property investment in Guildford, call me for a chat on 01483 320 207

Clandon Park and the devastation created by the fire last year

Living to the Manor "Road" born

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

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

Substantial property in Manor Road

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

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

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

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

Which semi detached house should I buy in Guildford?

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

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

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

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

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

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

An extended property in Raymond Crescent

We picked this property out because it is located in Raymond Crescent, one of the most popular streets for both occupiers ad tenants in this area of Guildford. This is because it is situated across the road from the University of Surrey and is just 15 minutes walk to Guildford Railway station and then onto the town centre where there are many shops, bars and restaurants.

The A3 London to Portsmouth trunk road is nearby allowing a fast exit from Guildford if one commutes to local towns for work.

Unlike most properties on this road the house has already been extended to the rear allowing room for a bathroom and ensuite bedroom in addition to the conventional two bed arrangement usually found in houses on this street. There is a second reception downstairs too.

Extended property in Raymond Crescent

This will ensure there is sufficient accommodation for a family with two children or an investor wanting to provide up to 4 bedrooms for rental to sharers in order to increase his gross yield to a modest 6-7%, assuming current market rentals.

The property is being marketed by our friends at Gascoigne Pees, in Guildford High Street. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-52694860.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

An adorable property in Applegarth Avenue

You might ask why we describe this house as an "adorable" property but investors will jump on this opportunity very quickly. Why is that, do I hear you ask?

Well Applegarth Avenue is located within walking distance of the Surrey Research Park and the County Hospital. It is also within a relatively short walk of the University of Surrey campus too. This means that the demand from potential tenants will be high. The road is also very pleasant to live in because it is relatively quiet and most properties are well tended.

An ideal opportunity for an investor

Most importantly the property is being offered at a low asking price compared to those on sale in this area. This is likely to be because the property requires considerable modernisation but while doing this an investor could extend over the garage and to the rear where the current conservatory is situated (subject to the usual planning consents) to provide up to six bedrooms to maximise the rental income from the house.

If this is the case the potential gross yield will be in excess of 10%.

The property is being marketed by our friends at Callards, on the Worplesdon Road, in Guildford. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-39021273.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

Potential to extend in Bryanstone Grove, a quiet road

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

Potential to extend subject to planning permission

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

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

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

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

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

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

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

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

Local shops on Fairlands Avenue

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

Bungalows in Envis Way, one with a loft conversion

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

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

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

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

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

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

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

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

Corner plot in Yew Tree Drive

This property is located in one of our favourite roads on the Bellfields Estate, just over a mile from Guildford town centre. The area is very popular with landlords and investors because it offers one of the highest yields in town.

This property is reasonably priced but as it is situated on a corner plot has huge potential to extend to the side (subject to planning) to offer 2/3 additional rooms to rent out.  

Potential to extend to the side subject to planning consent

There is a bus into Guildford Town centre and the A3 trunk road provides a link to both London and Portsmouth. Guildford College is nearby and the University is within walking distance so there will be demand from students as well as young professional tenants to rent a room here.

So for landlords looking a gross yield of more than 10% and a capital gain this property is ideal and therefore likely to be very popular especially as there is no onward chain.

The property is being marketed by Hipps, in Worplesdon Road, Guildford. They are very familar with the area and will therefore be able to provide a lot of useful advice. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-57145997.html

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

Room up top in Park Barn Drive

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

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

4 bed house with loft conversion in Park Barn Drive

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

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

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

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

Room for expansion in Watford Close

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

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

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

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

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

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

A lovely family house in Juniper Close with potential to extend

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

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

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

Potential to extend over the garage

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

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

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

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

A great starter home for the New Year in Weybrook Drive

This is an ideal starter home providing living space on two floors rather than one floor in a traditional flat, to provide you with the luxury of having your own house.

The property is situated in Burpham within walking distance to Sainsbury's supermarket and local amenities and has easy access to the A3 London to Portsmouth trunk road. There is a circular bus to take you into Guildford or Merrow.

Starter home in Weybrook Drive

The prospective owner will be able to move in right away as there is no work to be done. The property is tastefully decorated and has modern fittings. There is a modern fitted kitchen and lounge/diner downstairs with a good size bedroom and a fitted white suite bathroom upstairs plus allocated parking outside the house.

While the typical gross yield may only be 4.2% the property will let very quickly as the Weybrook development is extremely popular with young professionals and families looking for an initial base in which to live, in Guildford.

The property is being marketed by Mann, in Guildford High Street. Further details are available at http://www.rightmove.co.uk/property-for-sale/property-38685078.html

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

Where would Father Christmas invest in Guildford?

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

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

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

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

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

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

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

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

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

Local bungalows all with chimneys designed for Santa Claus

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

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

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

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

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

Celebrating Christmas for charity in Guildford

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

A stunning home in Fir Tree Road

This property stood out as being somewhat exceptional compared to typical properties in this road. This is because it has been extended into the area to the side which is typically used for storage and an utility area. The extension accommodates a large kitchen instead, which has allowed the space left by the former kitchen for an additional reception room. 

The property has been refurbished and tastefully decorated too so there is no work required before moving in. There is a large and well presented garden with a sizeable patio area and lawn too.

An attractive property in Fir Tree Road priced to sell fast

Furthermore the property has been priced to sell quickly as it is lower than the typical asking price in this area for a similar sized 3 bedroom house without the extension. 

The house is located close to local shops and bus route and is only 30 minutes walk from Guildford town centre making it very accessible. It is therefore going to sell quickly.

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

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

The story of Abbotswood Estate

Abbotswood was created when the Earl of Onslow had to sell farmland to pay off death duties. Local entrepreneur G. Taylor, together with his architect A. C. Burlingham took this opportunity to create a garden suburb for Guildford’s growing wealthy middle class who were now able to commute into Guildford and up to London after the railway arrived in Guildford, in the mid nineteenth century and the motor car had been invented in the early twentieth century. This enabled them to move into the countryside outside of the town centre.

The estate including a mix of houses and bungalows was built in Arts and Crafts style to follow the principles of the 20th century Garden Suburb Movement formed by Sir Ebenezer Howard, in 1898. It is characterised by a traditional detailing and high quality materials and construction set within an informal layout and a wooded area.

The Abbotswood Estate is situated on London Road between Boxgrove roundabout and Burpham, not far from the A3 trunk road. It  was built in the early part of the 20th century on approximately 50 acres of arable farmland forming part of the Stoke Park Farm. 

Looking through the shrubbery at the original Stoke Park Farm

This dates back to medieval times and was originally part of the Onslow estate. This land was previously known as Ganghill Common, and was an area of high ground overlooking the water meadows of the River Wey. The original farmhouse and outbuildings still survive and are included within the Conservation Area, formed in 2011, to protect and retain the architectural style of properties on the Estate.

Alfred Claude Burlingham was an enthusiastic disciple of the architect, Lutyens, so he created several different designs influenced by his work, for both medium and large sized houses, some having space for servants’ quarters. The development commenced in 1912 and took place over two main periods. The first phase up to and including the First World War provided larger houses for the professional and more affluent residents of the Guildford borough. The second phase, immediately following the war, offered smaller properties including bungalows. 

Following the completion of Abbotswood, Taylor and Burlingham went on to develop other significant residential estates in Guildford at Fairway, Trodds Lane, Ganghill, Meads Road and Green Lane plus a number of charming cottages in Orchard Road, Burpham.

The decorative stone to be found on the arches at the main entrance

The Abbotswood Estate comprises around 77 detached properties. House prices for properties on the estate have risen 7.33%, or by £69,912, in the last year and by 304% or £770,904 over the last 20 years, similar to the average price growth for Guildford, as a whole.

There have been 9 property sales on Abbotswood during the last 5 years with an average sold price of £1,319,111. The most recent sale was no 26, a 4 bed detached house sold in Dec 2014 for £1,675,000 but now worth £1,797,000.

Further evidence of house price growth in the estate is provided by the sale of  'Hazelwood', a 7 bed house, which is believed to be one of the first houses to have been built in Abbotswood, in 1913. It was sold for £1,515,000 in Oct 2014 having been purchased for £605,000 in 1998, a house price growth of 250% in just 6 years.

Finally the only property on the estate to be listed by English Heritage, in 1998, was no 46. This is also the largest house on the estate with 7 beds and 4 baths. It was sold for £1,950,000 in May 2012, having been previously sold in Aug 2006, for £1,900,000 so even an affluent area like Abbotswood does not appear to have escaped the credit crunch and the negative affect this had on house prices. 

However it had also sold in Mar 2001, for £430,000. The property is currently worth an estimated £2,546,000 so even allowing for the credit crunch it has still risen in value by an outstanding 592% in the last 14 years!

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

Which semi detached house should I buy in Guildford?

One of our landlords asked if they should buy a 2, 3 or 4 bed semi detached property to rent out to tenants. The first question I asked them was what was are they looking for from the investment - capital growth in the property or a great yield? 

The area in which they purchase would also determine how much they should pay. For example, a reasonably priced 2 or 3 bed semi detached property can be located in and around Manor Road and Stoughton Road towards the Worplesdon Road. Larger 4 bed semi-detached properties, with an average asking price, are more likely to be situated in an area like Onslow Village, which is in a good primary school catchment area and is also close to town.

Answering these questions would help him to figure out which properties he should buy. The average asking price of a 2 bed semi in Guildford is £350,950 today compared to £399,950 for a 3 bed semi and £550,000 for a 4 bed semi detached property. The 2 bed semi achieves an average rental price of £1,295 per month compared to £1,625 per month for a 3 bed semi and £1,995 for a 4 bed semi.

That’s a gross yield of 4.4% for the 2 bed against 4.9% for the 3 bed and 4.4% for a 4 bed semi detached property. 

As I always remark, capital gains have been significant for Guildford property. This has certainly been the case between 1999 and 2015. For example, 2 bed semi-detached houses have risen by 280% over this time period and 4 bed semis have risen by 300% yet once again the winners are 3 bedroom semis as these have risen on average by 327%.

So surely, the 3 bed semi is the slightly better bet? Well they do offer a better rate of return and excellent capital gain plus they are in more plentiful supply than 2 or 4 bed semi detached properties. 

A typical style of semi-detached property found in Onslow Village

However the properties that tend to go through the letting process with more prospective tenants actually completing are 4 bed semi-detached houses, which suggests that they do tend to rent out quicker than others. Furthermore there is great potential to rent out a 4 bedroom house to sharers, in order to maximise the gross yield.

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