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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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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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  • 4 weeks later...
On 1/13/2018 at 11:15 PM, mathschoc said:

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.

Guildford has a hell of a way to plummet. Out towards Farnborough looks much more affordable and very little in it London commuting wise?

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23 hours ago, Wayo said:

Guildford has a hell of a way to plummet. Out towards Farnborough looks much more affordable and very little in it London commuting wise?

Farnborough a bit meh to live in.   Its a town that needs a refurb and which is never getting it actually done (incompetent local council never getting act together).  A few more minutes on the train gets you to Fleet or Hook which are far better, but now you are back at Guildford type commute distances (but may be able to live closer to a station at these places than Guildford). 

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  • 3 months later...
On 13/11/2017 at 10:34, worried1 said:

I don't monitor Guildford that closely, but I am certainly not seeing the type of drops there that I am seeing in Kingston/Surbiton. Prices between the two areas look much closer than they were a year ago. Who knows whether that is the new norm or if Guildford falls will start accelerating.

Guildford is a bit of an oddity. It never rises as much as London, but never really falls either.

I think it is essentially seen as a good place to move to by London escapes. So as people leave London, and prices there fall, the freed up cash ends up I places like Guildford.

Kingston, Surbiton etc are really seen as London  extensions and frankly given the public transport from those places is not that quick,  people might as well be in Guildford. 

Same for Godalming, Farnham, Haslemere, Woking, Dorking etc

 

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On 12/01/2018 at 18:31, crm114 said:

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

Yes. 

The other option is to drive to Woking.

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On ‎27‎/‎05‎/‎2018 at 21:58, Mikhail Liebenstein said:

Guildford is a bit of an oddity. It never rises as much as London, but never really falls either.

I think it is essentially seen as a good place to move to by London escapes. So as people leave London, and prices there fall, the freed up cash ends up I places like Guildford.

Kingston, Surbiton etc are really seen as London  extensions and frankly given the public transport from those places is not that quick,  people might as well be in Guildford. 

Same for Godalming, Farnham, Haslemere, Woking, Dorking etc

 

Perhaps you're right for the other places mentioned, but I do the Surbiton to Waterloo commute every day and it takes 20 minutes to get in and 15 minutes to get back (provided SWR are playing ball!). Guildford seems to take at least twice that, has less frequent trains, and costs twice as much for the annual season ticket.

I'd definitely agree Guildford provides a better escape from London, though - better family housing stock, marginally cheaper prices, but mainly a self-contained town with good access to open countryside and other places apart from London.

Some places do get extraordinarily different treatment in terms of trains services. Isleworth is in zone 4, but the trains from there take 40 minutes to get to London. Woking is comparatively in the middle of nowhere and trains can be under half an hour.

 

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  • 2 months later...

High end house prices coming down hard now in Guildford and Surrey. Not clear if this is just Brexit driven or also global asset bubble popping with a little stamp duty pain thrown in. Price in 2018 down >20% from 2010. Seeing similar falls in New York, San Fran and Hong Kong.

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=27948535&sale=8039503&country=england

 

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2 hours ago, hfhpcgazer said:

High end house prices coming down hard now in Guildford and Surrey. Not clear if this is just Brexit driven or also global asset bubble popping with a little stamp duty pain thrown in. Price in 2018 down >20% from 2010. Seeing similar falls in New York, San Fran and Hong Kong.

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=27948535&sale=8039503&country=england

 

million quid plus fees on top. that`s a nice hair cut. 

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Managed to get a small new build freehold 2 bed house with garden and parking for £300,000 in Guildford (1 double room, 1 single room). It's expensive in UK terms, but compared to other new builds within the town and surrounding towns I got a good price. When I say I got it, I am in the process of buying it.
 

ie. There is a new 1 bedroom apartment in Farnham, no garden, no balcony, leasehold, advertised for £290,000...

https://www.rightmove.co.uk/property-for-sale/property-77475733.html

 

Then there is this 1 bed maisonette for £285,000 in Guildford, no parking.

https://www.rightmove.co.uk/property-for-sale/property-78487348.html


Then a 1 bed Coach House, no garden for £310,000

https://www.rightmove.co.uk/property-for-sale/property-77803474.html

 

Although we are in this corona crisis I think I'll follow through with the purchase. Even in Aldershot there a 2 bedroom leasehold apartments priced at £280,000.

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On 11/11/2017 at 09:36, mathschoc said:

There are stores closing randomly, maison Blanc and a few other small businesses.

Drove through woking the other day and noticed Charlie Choys has closed and the restaurant next to it has boarded up.

Something is definitely happening 

I know Guildford pretty well, lots of pricey retail space. Suspect the rents are too high to survive. Guess it needs the real estate owners to go pop before it comes back.

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Guildford and the surrounding villages (Shalford et al) were lovely places - full of community.  I saw how HPI infected everything and everyone become obsessed with 'keeping up with the Jones's' - PCP cars, bigger houses, dining out most nights.  As a result the community and compassion just went, people stepped over beggars sleeping rough in the Town Center car parks, NIMBYs sprung up, and the vitriol against the young trying to find a place was so scary I left.

Went through there last week.  A3 is packed, no infrastructure - fur coat and no knickers springs to mind

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