Guildford

[Emlyn]

I would agree with what you are seeing in the Guildford area's.

I have recorded 30 properties on my database in the last month alone, compared with only 6 in April and 21 in March (not comprehensive of all price ranges).

I have also noted some properties recorded earlier in the year coming back onto the market in the last few days.

Many of the SSTC seem to be in long chains.

[jimj]

Only anecdotally...

I have noticed that in the last 2/3 weeks the following during my searches of Gford and surounds (Farnham etc) the following...

1. Lots of volume coming onto market

2. Hardly anything going SSTC, there have been a steady stream since Feb (so 3m)

3. Not many reductions (not compared to last year anyway)

Anyone concur?

I've been monitoring Northwest Guilford for over a year now. I think you're right: there has been an increased number of properties coming onto the market in the last week or so, when previously it had been fairly quiet. There are very, very few reductions and even a few price increases! But this was the case last year: it was not until the middle of the year that prices began falling in Northwest Guilford, whereupon they suddenly started decreasing a lot right through till Christmas. I'm hopeful that the same thing will happen this year.

[SaintJay]

I've just looked up the details for no. 27 which sold for £354k and it's a 3 bed end of terrace with a basement. As yet I haven't been able to track down any details for the one that's just sold, but leave it with me.

Hi Mildura - I tried to PM you - did you get it?

[Mikhail Liebenstein]

Here we go, £200k drop in June. I thought there was a recovereh .

http://www.rightmove.co.uk/property-for-sa....0%26index%3D70

date event

09 June 2009 20:20:56

* Price changed: from '£1,499,995' to '£1,300,000'

31 March 2009 20:39:58

* Agents Address found: 255 High Street, Guildford, GU1 3BS

17 February 2009 08:18:19

* Status changed: from 'Available' to 'Premium Listing'

18 December 2008 20:07:25

* Brief Description changed: A beautifully presented six double bedroom detached Victorian family home with great views across the Hogs Back. Ideally located for the amenities of Guildford. The accommodation is spacious and laid out over three floors. (contd...) [Found by aop27]

* Price changed: from '£1,350,000' to '£1,499,995' [Found by aop27]

16 December 2008 20:08:48

* Brief Description changed: MARKETING AT A REDUCED PRICE FOR THE 11TH, 12TH AND 13TH DECEMBER ONLY SALE, OFFER ENDS CLOSE OF BUSINESS WED 17TH AT 5.00PM. A beautifully presented six double bedroom detached Victorian family home with great views across the Hogs Back. Ideally located for the amenities of Guildford. (contd...) [Found by aop27]

14 December 2008 14:11:44

* Brief Description changed: MARKETING AT A REDUCED PRICE FOR THE 11TH, 12TH AND 13TH DECEMBER ONLY A beautifully presented six double bedroom detached Victorian family home with great views across the Hogs Back. Ideally located for the amenities of Guildford. The accommodation is spacious and laid out over three floors. (contd...) [Found by StefV]

* Price changed: from '£1,625,000' to '£1,350,000' [Found by StefV]

06 December 2008 08:57:48

* Subtitle changed: from '6 bedroom detached' to '6 bedroom detached house ' [Found by SaintJay]

28 November 2008 23:53:56

* Agent found: Gascoigne-Pees

* Agents Location found: Guildford

19 November 2008 12:20:29

* Price changed: from '£1,790,000' to '£1,625,000' [Found by aop27]

29 October 2008 09:29:22

* Brief Description found: A beautifully presented six double bedroom detached Victorian family home with great views across the Hogs Back. Ideally located for the amenities of Guildford. The accommodation is spacious and laid ... [Found by d179]

* Price found: £1,790,000 [Found by d179]

* Status found: Available [Found by d179]

* Subtitle found: 6 bedroom detached [Found by d179]

[Mikhail Liebenstein]

Oh silly me, I forgot they originally wanted £1,790,000.

That's £490k off their starting price.

Here we go, £200k drop in June. I thought there was a recovereh .

09 June 2009 20:20:56

* Price changed: from '£1,499,995' to '£1,300,000'

18 December 2008 20:07:25

* Price changed: from '£1,350,000' to '£1,499,995' [Found by aop27]

16 December 2008 20:08:48

* Brief Description changed: MARKETING AT A REDUCED PRICE FOR THE 11TH, 12TH AND 13TH DECEMBER ONLY SALE, OFFER ENDS CLOSE OF BUSINESS WED 17TH AT 5.00PM. A beautifully presented six double bedroom detached Victorian family home with great views across the Hogs Back. Ideally located for the amenities of Guildford. (contd...) [Found by aop27]

14 December 2008 14:11:44

* Brief Description changed: MARKETING AT A REDUCED PRICE FOR THE 11TH, 12TH AND 13TH DECEMBER ONLY A beautifully presented six double bedroom detached Victorian family home with great views across the Hogs Back. Ideally located for the amenities of Guildford. The accommodation is spacious and laid out over three floors. (contd...) [Found by StefV]

* Price changed: from '£1,625,000' to '£1,350,000' [Found by StefV]

06 December 2008 08:57:48

* Subtitle changed: from '6 bedroom detached' to '6 bedroom detached house ' [Found by SaintJay]

28 November 2008 23:53:56

* Agent found: Gascoigne-Pees

* Agents Location found: Guildford

19 November 2008 12:20:29

* Price changed: from '£1,790,000' to '£1,625,000' [Found by aop27]

29 October 2008 09:29:22

* Brief Description found: A beautifully presented six double bedroom detached Victorian family home with great views across the Hogs Back. Ideally located for the amenities of Guildford. The accommodation is spacious and laid ... [Found by d179]

* Price found: £1,790,000 [Found by d179]

* Status found: Available [Found by d179]

* Subtitle found: 6 bedroom detached [Found by d179]

[jm78]

Only anecdotally...

I have noticed that in the last 2/3 weeks the following during my searches of Gford and surounds (Farnham etc) the following...

1. Lots of volume coming onto market

2. Hardly anything going SSTC, there have been a steady stream since Feb (so 3m)

3. Not many reductions (not compared to last year anyway)

Anyone concur?

It seems the spring bounce is over. I stand by the above and even a few more reductions coming on.

Nice house above Mike. Does it interest you (at the right price), and if so what price?

[Mikhail Liebenstein]

It seems the spring bounce is over. I stand by the above and even a few more reductions coming on.

Nice house above Mike. Does it interest you (at the right price), and if so what price?

My rule is that there are no properties worth between £1m and £1.3, so this must be £900k.

[Let-them-Burn]

I have been following sales in the GU1 & GU4 areas.

For GU1, Rightmove currently has 60 house ads over 500k, but this includes several repeat ads and quite a few 'under offer'. I guess there are about 45 different houses currently on.

For GU1, Rightmove currently has 95 house ads over 500k, again this includes several repeat ads and 'under offer'. I guess there are about 75 different houses currently on.

We have just had the Spring bounce with a lot of houses going under offer. For what its worth here are the sale prices for the two postcodes over the last 6 months.

Last Six Months (13 completed/registered sales in GU1 over 500k)

Austen Road 760k

Downsway 845k

Fairway 1,150k

Fort Road 950k

Hilier Road 800k

Horshoe Lane East 720k

Lancaster Avenue 550k

Pewley Hill 690k & 750k

Three Pears Road 947k

White House Drive 585k

Woodruff Avenue 545k

Wychelm Rise 680k

Last Six Months (11 completed/registered sales in GU4 over 500k)

Clifford Manor Road 1,512k & 1,075k

Darfield Road 500k

East Shalford Lane 875k

Halfpenny Lane 1,650k

Highcotts lane 850k

Oak Grange Road 975k

Rectory Close 530k

The Street 530k

Tilehouse Road 1,130k

Whitmoor Lane 1,500k

It will be interesting to see what the houses in the Spring bounce actually sold for (if their chains hold). I guess these figures will come out in the Autumn. For those of us priced out, hopefully the 1st half of 2009 sales will set the bench mark lower and the added redundancies/job uncertainties/lack of credit will finally get the price correction back on track in Guildford over the winter.

[jm78]

Good Work LTB.

In your opinion are the prices above below 07 peak? (I know it's difficult to compare because more expensive houses are unique).

As is my example (previous page), will the banks now use these prices as benchmarks?

[jackassjoiner]

hello there people, was just wondering if anyone new anything about the jacobs well / burpham end of guildford and what has been happening house price wise of late. our situation has changed and we are now in the need of a bigger house a bit quicker than we thought.

are asking prices sensible? our budget is around the 380-425k mark and was wondering what i should be looking at asking price wise. ideally i would spend less because i am still of the opinion we will see a drop from here.

any advice would be greatly recieved.

jack

[Jason5]

Buying in Guildford - July 2009 - level of offer vs asking proce?

We are have found a 3 bedroom house in North Guildford that we want to make an offer on. The asking price (as with many 3 beds that have enough space) is £250K. According to Zoopla, it was bought by the current owners in Feb '07 for £235K. Considering the 20-25% market fall since early 2007, and that the Zoopla value estimate is £221K (Value range 213K-£228K) (and the Zoopla Zed-Index is £206K), what does anyone think a reasonable offer is? e.g. £205 or £210K?

Circumstances - I owned a flat in London from '03 to '07, and we have been renting since then.

Thanks, Jason5

It seems the spring bounce is over. I stand by the above and even a few more reductions coming on.

Nice house above Mike. Does it interest you (at the right price), and if so what price?

[Gareth79]

I've been calling about properties under 200k in reasonable areas and pretty much all I've called about are repos or probate sales. I've made some low-ball offers with no luck yet. One went for 5k under asking price (3 bed semi, Farnham, up at £190k) - I think it was WAY too much considering it needed rewiring, new kitchen, heating, decorating and a new bathroom unless you like Avocado The other was a 3-bed semi in Reigate, was up at £180k, I offered £184k and didn't get it.

Edited July 6, 2009 by Gareth79

[jimj]

Buying in Guildford - July 2009 - level of offer vs asking proce?

We are have found a 3 bedroom house in North Guildford that we want to make an offer on. The asking price (as with many 3 beds that have enough space) is £250K. According to Zoopla, it was bought by the current owners in Feb '07 for £235K. Considering the 20-25% market fall since early 2007, and that the Zoopla value estimate is £221K (Value range 213K-£228K) (and the Zoopla Zed-Index is £206K), what does anyone think a reasonable offer is? e.g. £205 or £210K?

Circumstances - I owned a flat in London from '03 to '07, and we have been renting since then.

Thanks, Jason5

In North Guildford, a three-bedroom semi recently sold for 218,000. Several terraced houses around the Mandeville Close area sold for around 200,000 a few months ago. That should give you an idea of where to go. Personally, I would wait until later in the year because in 2008, there was little change in North Guildford in the first half of the year and then a very sharp drop in the last six months. Since the end of 2008, asking and achievementprices seem to have stayed the same. To that end, I think North Guilford is starting to look a little overpriced compared to other regions, and I really expect prices to start moving downwards soon.

[A_Landlord]

Mann & Co. make a 'sale' and want to tell the world about it:

http://www.rightmove.co.uk/viewdetails-189...p;mam_disp=true

"SOLD, SOLD, SOLD, BY MANN COUNTRYWIDE MARKETED BY OTHER AGENTS WITH NO SUCCESS. MORE PROPERTIES WANTED IN THE SAME AREA , AS WE STILL HAVE MORE ACTIVE BUYERS ! HAVE YOU SOLD YOURS YET ???? TIME FOR A CHANGE ?"

.... I wonder what offer they accepted as its been on the market for a long time. Plus, I would laugh if it fell through after making the above statement.

Could the house sale have fallen through? .... how much egg on face? http://www.rightmove.co.uk/property-for-sa...ncludeSSTC%3Don

.... and the cheeky feckers have put it back on the market for £50k more than they were advertising it for in the Autumn ... you have to love Guildford estate agents!

[Choren]

Hi all.

Lately I have been looking for a 3/4 bed house in Guildford, needs to be a decent area so I have been looking in GU1/GU2, Onslow Village, Merrow but the lack of properties in my price range which is 450-480k is a bit worrying. Have you guys noticed any lack of houses on the market in Guildford.

I have looked at one house in Onslow village that looked very nice and the asking price is around 495k. From checking the land registry etc I can see the house was sold in 2007 for 330k and since then been extended to a 1500sq feet 4/5 bed house with a very large plot and a doubble garage. My question really as I don't know the market that well is would an offer in the region of 480k be a fair price for such a property, I'm not sure how much the refurbishment and extension has cost but it's all done to a very high standard "except for bathrooms who looked a bit cheep" Anyone got any ideas or comments on this ?

Elmside

/Tommy

[jimj]

Hi all.

Lately I have been looking for a 3/4 bed house in Guildford, needs to be a decent area so I have been looking in GU1/GU2, Onslow Village, Merrow but the lack of properties in my price range which is 450-480k is a bit worrying. Have you guys noticed any lack of houses on the market in Guildford.

I monitor GU3, Northwest Guilford, and there are hardly any houses coming up. This has been the case for most of this year and when they do appear, they tend to be very highly priced. Surprisingly, some of these appear to sell at high prices and I think this may be one reason why some of the indices are reporting small house price increases: the sheer lack of supply means that unwise buyers are buying at a premium. It doesn't strike me as sustainable because once properties appear in volume, asking and selling prices will likely move down.

[Old_Traveller]

I would have to agree with jim on the available stock. Dropped dramatically ion the last year yes. I'm also looking in the same range 400-500K and there is very little available.

Re your question on price. If it is true as you say that the house was sold pre-extension for 330K in 2007, the current price is outrageous bordering criminal. You could start by simply asking the EA/vendor how do they justify an increase over previous paid price of almost 60% in just 2 years when the market has dropped by 20% in that same period.

Personally I see extensions/refurbishments as second class work unless it is proven otherwise, im my experience they often bring more problems that improvements (piping problems, weak walls, poor heating insulation). You say 495? I ve seen reasonable quality new builds or recent builds in GU2, developments such as the Acorns (4 bedrooms etc) or QEP, considering offers of 380K and less. Onslow is one of the prime areas in guildford but nevertheless I will never pay what is suggested for an oldish-extended house like the one mentioned. You say £330 in 2007? and they ve added what? a room and a some more garage space? at most you could asume that house could be revalued at 380-400 tops in 2007 terms. Now discount 20% off that at least to get to today's prices... you are now down into the 320 range at most...

The key is to realize that: a) house was sold for 330K in 2007, b ) establish a proper estimate for the extension costs and add it to it, c) then discount 20% at the very least to account for market drops to date.

EA and vendor will say that Onslow is a prime area and that there have not been significant drops here of course. Which is not true, drops in the SE of England have been in the order of 15%-20% indeed, although it is part of the negotiation process.

Edited August 6, 2009 by Old_Traveller

[Mildura]

Hi all.

Lately I have been looking for a 3/4 bed house in Guildford, needs to be a decent area so I have been looking in GU1/GU2, Onslow Village, Merrow but the lack of properties in my price range which is 450-480k is a bit worrying. Have you guys noticed any lack of houses on the market in Guildford.

I have looked at one house in Onslow village that looked very nice and the asking price is around 495k. From checking the land registry etc I can see the house was sold in 2007 for 330k and since then been extended to a 1500sq feet 4/5 bed house with a very large plot and a doubble garage. My question really as I don't know the market that well is would an offer in the region of 480k be a fair price for such a property, I'm not sure how much the refurbishment and extension has cost but it's all done to a very high standard "except for bathrooms who looked a bit cheep" Anyone got any ideas or comments on this ?

Elmside

/Tommy

The last 4-6 weeks have been total rubbish for any decent new instructions, the quiet holiday season seems to be worse than ever this year.

To be honest I'm personally not a great fan of Onslow Village, but it always proves to be popular. The one you linked to doesn't seem to be done to a very high standard, but of course it's always difficult to tell from the pics. I can't believe they've spent more than £100k on it, so i would think that if you were to come along and offer them £480k, you'd have your arm bitten off. It's also a little strange to see it being marketed by housenetwork.co.uk - I can only imagine that this is down to a v low commission rate, which begs the question, are they likely to have spent money on good qualith materials or gone for the cheapest they can find?

If you're not in a mad rush I'd wait to see what September brings. Supply isn't going to get any worse, and hopefully they'll be enough sellers desperate to move before Christmas so prices may become more flexible.

[Old_Traveller]

The last 4-6 weeks have been total rubbish for any decent new instructions, the quiet holiday season seems to be worse than ever this year.

And what about agreed sales?

[Mildura]

And what about agreed sales?

Not bad, but we've got such a pile of crap left on our books, it's difficult to see anyone buying it!!!

Things should improve in a month [crosses fingers] Had quite a good spring/early summer to keep me off the streets tho!!

You seeing much worth looking at?

[Old_Traveller]

You seeing much worth looking at?

Sadly no, so prices now holding makes sense to me. Will be interesting to see how things go in this second half of the year. although my guess is that it could take much longer for stock to improve in numbers/quality.

Edited August 6, 2009 by Old_Traveller

[Mildura]

Sadly no, so prices now holding makes sense to me. Will be interesting to see how things go in this second half of the year. although my guess is that it could take much longer for stock to improve in numbers/quality.

I don't think we'll see much of a change here until the new year, and agree that we're in for a bit of a wait for stock levels to improve.

The problem is that Guildford does not currently have enough people who need to sell.

[wouldbguildfordgirl]

I don't think we'll see much of a change here until the new year, and agree that we're in for a bit of a wait for stock levels to improve.

The problem is that Guildford does not currently have enough people who need to sell.

This is my first post! I have been reading the forum since 2006 and it has kept me sane at times when people were saying "if the market crashes it'll only be by a couple of percent". Now I think that I need some guidance from you sensible people.

Husband & I are first time buyers and have been renting in Guildford for a couple of years. We are fairly average - wanting a 2 up 2 down town center Victorian semi, not requiring much work. It seems that at the moment average ones are now approx. £300k. We have seen 2 houses that we loved (and made offers on) go for well over the asking price within a few days of going on the market. We are therefore realising that if we want a house now we will have to pay the asking price or close to it, even if the house price calculators seem to indicate that we are paying close to peak prices.

We can comfortably afford around £300k, and can see ourselves staying for around 6 to 10 years.

That said, we are happy in our rented house and our rent is broadly equivalent to what the interest on our mortgage would be. We get on well with our landlord etc.

Would you buy now? Or wait. And if wait, until when. We will be buying a home, not an investment, but at the same time do not want to be foolish in throwing away tens of thousands of £s that we needn't. Help please!!!

Edited August 9, 2009 by wouldbguildfordgirl

[Old_Traveller]

This is my first post! I have been reading the forum since 2006 and it has kept me sane at times when people were saying "if the market crashes it'll only be by a couple of percent". Now I think that I need some guidance from you sensible people.

Husband & I are first time buyers and have been renting in Guildford for a couple of years. We are fairly average - wanting a 2 up 2 down town center Victorian semi, not requiring much work. It seems that at the moment average ones are now approx. £300k. We have seen 2 houses that we loved (and made offers on) go for well over the asking price within a few days of going on the market. We are therefore realising that if we want a house now we will have to pay the asking price or close to it, even if the house price calculators seem to indicate that we are paying close to peak prices.

We can comfortably afford around £300k, and can see ourselves staying for around 6 to 10 years.

That said, we are happy in our rented house and our rent is broadly equivalent to what the interest on our mortgage would be. We get on well with our landlord etc.

Would you buy now? Or wait. And if wait, until when. We will be buying a home, not an investment, but at the same time do not want to be foolish in throwing away tens of thousands of £s that we needn't. Help please!!!

Firstly I do not think houses in Guildford are going over asking price, much less if that asking price is 2007's... Seasonally and anecodtally a few might have, at the high end, but probably that is about it. Do not believe Estate Agent hype (with all due respect for Mildura). If you are not in any particular hurry, and if you have a good deposit I'd personally advise to keep on saving, maximize deposit and wait... unless you can reach at least around 30% from peak now.

Looking at it from the purely "stock available" issue, chances are you will have much more to choose from over the next year or two. But also, any "paying close to asking prices" now has a lot to do not only with lack of stock available but also with the season... try timing your offers in Christmas or New Year...

I would recommend you keep reading here the main forum posts on economic developments. Next government, wether Labour or Tory will probably have to raise taxes, control budget and probably... stop QE (if not done by then...). Also there is a good chance regulation may be tighter on bank lending, reseves etc which may put downward pressure on house prices. Many things will probably change.

Overall I would consider the likelihood of mortgage interest rates hike in a couple of years very high and that will affect House Prices down. Wether those drops will compensate for the hike in interest rates it is yet to be seen and it will depend on your deposit size; in any case you may still have a year or two to lock in a reasonable mortgage rate, plus if you have a big deposit this may not be much of an issue anyways.

Good luck!

Edited August 10, 2009 by Old_Traveller

[wouldbguildfordgirl]

Firstly I do not think houses in Guildford are going over asking price, much less if that asking price is 2007's... Seasonally and anecodtally a few might have, at the high end, but probably that is about it. Do not believe Estate Agent hype (with all due respect for Mildura). If you are not in any particular hurry, and if you have a good deposit I'd personally advise to keep on saving, maximize deposit and wait... unless you can reach at least around 30% from peak now.

Looking at it from the purely "stock available" issue, chances are you will have much more to choose from over the next year or two. But also, any "paying close to asking prices" now has a lot to do not only with lack of stock available but also with the season... try timing your offers in Christmas or New Year...

I would recommend you keep reading here the main forum posts on economic developments. Next government, wether Labour or Tory will probably have to raise taxes, control budget and probably... stop QE (if not done by then...). Also there is a good chance regulation may be tighter on bank lending, reseves etc which may put downward pressure on house prices. Many things will probably change.

Overall I would consider the likelihood of mortgage interest rates hike in a couple of years very high and that will affect House Prices down. Wether those drops will compensate for the hike in interest rates it is yet to be seen and it will depend on your deposit size; in any case you may still have a year or two to lock in a reasonable mortgage rate, plus if you have a big deposit this may not be much of an issue anyways.

Good luck!

Thanks Old Traveller, much appreciated. For further info, we have a 25% deposit, and have booked a mortgage at 3.49% fixed for two years. This expires in December (we booked in the 'mortgage rates are going up' frenzy, but will happily say goodbye to the booking fee rather than pay too much for a house).