crm114

Guildford

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Hey guys - looking for a bit of advice re: Guildford.

Currently rent in Barnes, SW London, and have been holding out for price reductions for years in the hope of buying in the area.  Whilst prices are certainly flatlining, if not reducing, they are still ludicrous; 550k will barely get you a 2 bed flat.  As my partner and I aren't getting any younger we really need to buy soon but we can't settle for a dingy "starter" flat and unless there are DRAMATIC price reductions in the 30% range, it's just not going to happen  So, we're going to have to sacrifice an area we absolutely love to one within a reasonable commute and much more realistic prices...

Guildford ticks the box.

We've had an offer accepted on a house in the GU1 area at around the 525 mark - some 50k under the original asking price.  It's a beautiful Victorian terrace, 3 bedrooms, 3 stories, very close to the town and train station, and all in good order. Sounds great.  However, having checked the Zoopla valuation yesterday, the site is showing the property as worth around 450k. A mere 4 weeks ago the same valuation was around the 545 mark.  I know there are a ton of caveats with this "Zed" rating, but it is a good guideline, and I do find the sudden change slightly concerning.  I've been checking Rightmove etc and it does seem that since the beginning of the year properties are going up for less than in December.

The question:  should I be concerned?  Is the house I thought I was getting a good deal on going to sudden become VERY overpriced in the next few months?  What is the opinion on Guildford prices given the negative house price news of the last few weeks?

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Guildford (and Reading) prices seem to be softening from what I can see so its possibly overpriced.  However if it ticks all the boxes, you can afford it and can deal with commuting into Waterloo then go for it.

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I would like to add that the commute from Guildford is not great. I moved to the Burpham/Merrow side last year (from Kingston) closer to the London Road station. For a month I experimented with going to the mainline station as the rail part of the journey is much quicker. However, adding on the time to get down into town means that going from London Road works out better for me even if the train journey is over an hour and the rolling stock is the non air-conditioned kind which is hell on wheels in the summer. Also the trains from the mainline station are packed by the time they get to a Guildford. 

Guildford itself is great but horrendously over-priced   

 

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4 hours ago, crm114 said:

I would like to add that the commute from Guildford is not great. I moved to the Burpham/Merrow side last year (from Kingston) closer to the London Road station. For a month I experimented with going to the mainline station as the rail part of the journey is much quicker. However, adding on the time to get down into town means that going from London Road works out better for me even if the train journey is over an hour and the rolling stock is the non air-conditioned kind which is hell on wheels in the summer. Also the trains from the mainline station are packed by the time they get to a Guildford. 

Guildford itself is great but horrendously over-priced   

 

Yes - I used to live in Guildford around 12 years ago and ironically enough I moved because the commute was killing me!  I'm a little bit older and wiser now though, with less London based social events in my calendar, so the plan is to actually drive in most days and park up in an rented residential space close to my work in Hammersmith.  I would probably get the train a couple of times a month as and when drinking commitments demand - luckily enough the house is only around a 10 minute walk from the main-line station.

Had a look on mouseprice and hometrack and they are giving much "better" valuations, but I think something is off with the algorithm across the board as an almost identical house at the end of the road, probably no more than 25-30m away, is valued on the same sites much, much higher. I'm going to sit on things until Feb when hopefully more data comes in and then I'll make a call.

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5 hours ago, crm114 said:

I would like to add that the commute from Guildford is not great. I moved to the Burpham/Merrow side last year (from Kingston) closer to the London Road station. For a month I experimented with going to the mainline station as the rail part of the journey is much quicker. However, adding on the time to get down into town means that going from London Road works out better for me even if the train journey is over an hour and the rolling stock is the non air-conditioned kind which is hell on wheels in the summer. Also the trains from the mainline station are packed by the time they get to a Guildford. 

Guildford itself is great but horrendously over-priced   

Yes, that's true.  I always say that Guildford commuters are the most angry of the "waterloo community" -  it's probably because of the time/money/energy spent fighting the traffic to get into Guildford town centre before arriving at the station (to then stand on a train into London as the Hastlemere lot have taken all the seats).  

I think a Guildford commute requires an early start or a late finish to avoid the crush....

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10 hours ago, crm114 said:

 For a month I experimented with going to the mainline station as the rail part of the journey is much quicker. However, adding on the time to get down into town means that going from London Road works out better for me

 

Drive from that part of Guildford to Worplesden or even Brookwood? 

Yes, extra parking costs, and no seat at Worplesden (yes from Brookwood after about 8am if any seat will do) 

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7 minutes ago, Does Commute Abit said:

Drive from that part of Guildford to Worplesden or even Brookwood? 

Yes, extra parking costs, and no seat at Worplesden (yes from Brookwood after about 8am if any seat will do) 

Train from London Road has seats - but it is a long grim uncomfortable journey. 

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On 11/01/2018 at 9:00 PM, The Reasonable Man said:

Hey guys - looking for a bit of advice re: Guildford.

Currently rent in Barnes, SW London, and have been holding out for price reductions for years in the hope of buying in the area.  Whilst prices are certainly flatlining, if not reducing, they are still ludicrous; 550k will barely get you a 2 bed flat.  As my partner and I aren't getting any younger we really need to buy soon but we can't settle for a dingy "starter" flat and unless there are DRAMATIC price reductions in the 30% range, it's just not going to happen  So, we're going to have to sacrifice an area we absolutely love to one within a reasonable commute and much more realistic prices...

Guildford ticks the box.

We've had an offer accepted on a house in the GU1 area at around the 525 mark - some 50k under the original asking price.  It's a beautiful Victorian terrace, 3 bedrooms, 3 stories, very close to the town and train station, and all in good order. Sounds great.  However, having checked the Zoopla valuation yesterday, the site is showing the property as worth around 450k. A mere 4 weeks ago the same valuation was around the 545 mark.  I know there are a ton of caveats with this "Zed" rating, but it is a good guideline, and I do find the sudden change slightly concerning.  I've been checking Rightmove etc and it does seem that since the beginning of the year properties are going up for less than in December.

The question:  should I be concerned?  Is the house I thought I was getting a good deal on going to sudden become VERY overpriced in the next few months?  What is the opinion on Guildford prices given the negative house price news of the last few weeks?

Gford is plummeting. Plenty of stock which has been on for over 6 months. Of course agents are sneaky, every so often they get taken off zoopla/rightmove, then back on after two weeks as a new listing.

Gford is massively overpriced. I sympathise, I am getting on a bit with 3 kids, desperately needing to settle. But I am not prepared to make a great big mistake because I am desperate.

Hold out, if you can. This baby is tanking.

Edited by mathschoc

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