Romans’ Guildford property market update

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4 Dec 2015

Guildford property market update December 2015

Author: James Boyden

Guildford High StreetThe picturesque town of Guildford is increasingly becoming one of the most popular places to buy. Situated on the banks of the River Wey, occupying a natural gap between the North Downs, the town offers excellent transport links to the capital and South East of England as well as a myriad of shops, restaurants and bars. Good schools are offered in abundance, making it the perfect town for families wanting that rural lifestyle with a sophisticated edge. So, it’s no surprise Guildford is experiencing a surge of interest from buyers.

James Boyden, Sales Manager, and Iain Martin, Lettings Manager, both from Romans, incorporating Meldrum Salter Edgley, draw upon their experience and expert knowledge of the area to offer their insight into why the Guildford property market is so strong.

Living in Guildford

If you’ve ever been to Guildford town, you will understand why Experian deemed it as ‘the luxury shopping capital of the UK’. With three shopping centres, Guildford really does have something to suit every style and budget, from beautiful boutiques and bustling Farmers' markets in cobbled streets, to state of the art shopping centres and quirky independent shops.

“Guildford’s town centre is undoubtedly one of its biggest attractions" comments James, "and combined with the ample amenities within the town, outstanding private and public schools and efficient transport links all nestled amongst the beautiful Surrey Hills, we are yet to see the interest and demand of property in the area slow down.”

Investing in Guildford

“Demand from tenants remains strong as we enter the winter months, and rental prices continue to increase in Guildford largely due to the location of the town and the popularity of living on the London commuter belt, as well as Guildford being considerably cheaper in comparison to some neighbouring towns and the London suburbs” says Iain.

The town was mentioned earlier this year as being one of the most expensive places to rent in Britain (Telegraph March 2015) - ninth in fact, between Watford and Cambridge - and this isn’t surprising given the average property to rent is just under £1,500 pcm (home.co.uk).

Given all that Guildford offers, it’s easy to see why it’s such a sought-after area; its advantages effortlessly surpass its disadvantages with its great nightlife, easy road and rail links, brilliant shopping and beautiful open spaces. The popularity and consistent interest in the area simply cannot make investing in Guildford a bad decision.

More flats sold than any other property type in the last year, selling for an average price of £256,743 (rightmove.co.uk). Detached houses averaged at a value of £746,746, and semi-detached properties £413,000 (rightmove.co.uk).

Rental prices have also seen an increase, the most popular properties being two bedroom homes with an average rent of £1,549; one bedroom homes £1,141; and three bedrooms homes £2,207 pcm (home.co.uk).

“We always have people interested in Guildford because of it being such a vibrant town within such easy reach of the capital” adds James. “We get just as many young professionals seeking to live here because of the commuter links and nightlife as we do families also wanting those transport connections and a good selection of schools right from pre-school to post-doctorate”.

“Given the recent plans to raise stamp duty from April 2016, now could not be better time to consider your investment” says Iain. “Those in England and Wales will have to pay a 3% surcharge on each stamp duty band which will affect buy-to-let landlord’s and those wishing to purchase a second home. So we’re recommending that investors grow their portfolios sooner rather than later to the avoid the extra charges – particularly in the pricier locations. Furthermore, with the addition of the new Waitrose store in Guildford, the “Watirose effect” could result in house prices rising even more” adds Iain.

James concludes: “It’s an exciting time for the property market in Guildford as competition between buyers remains high. If you’re thinking about moving or letting your Guildford property, we’d love the opportunity to discuss the local market in more detail with you.

For more information about properties in Guildford, or to request a free up to date property valuation, contact the team at Romans, incorporating Meldrum Salter Edgley, on 01483 504 200 or guildfordresidential@romans.co.uk

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