Help to Buy Valuation in Houghton, Arun

The Help to Buy: Equity Loan scheme, which operated from 2013 to March 2023, allowed buyers to purchase a new build property with just a 5% deposit while the government provided an equity loan of up to 20% (or 40% in London). If you are looking to repay this loan, remortgage, or sell your property, you must obtain a formal valuation from a RICS registered valuer. This valuation determines the current market value of your home, which directly affects the amount you will need to repay on your equity loan. The repayment amount is calculated as a percentage of the current market valuation, not your original purchase price, which is why an up-to-date assessment is crucial.

Properties in Houghton and the surrounding Arun district present unique valuation considerations that our local valuers understand intimately. The area benefits from its proximity to Arundel, a historic market town with excellent transport links to London and Brighton via Arundel train station. The BN18 9 postcode, which includes Houghton, has seen house prices grow by 3.7% in the last year, making it important to obtain an up-to-date valuation that reflects current market conditions. However, the broader Arun district saw a 1.8% fall in average prices during the same period, highlighting the importance of postcode-specific local knowledge.

The local property market in Houghton features a mix of property types, from historic cottages built from local chalk and flint to modern developments. Many properties in the area are listed buildings, including numerous Grade II listed properties along The Street and South Lane, as well as the Grade II* Parish Church of St Nicholas. These historic properties require specialist valuation expertise, as preservation considerations and listing status can significantly affect market value. Our valuers have experience assessing heritage properties in the area and understand how these factors influence both valuation and the inspection process.

One factor that particularly affects properties in Houghton is flood risk. The River Arun runs through the village, and properties near Houghton Bridge are located within a Flood Warning Area. Historical data shows the River Arun at Houghton Bridge has reached levels of 3.69m in December 2013, with property flooding possible above 3.80m. Our valuers are familiar with the local geography and will consider flood risk factors when assessing your property, ensuring the report accurately reflects any environmental considerations that could impact value.

• Accurate market valuation
• RICS Red Book compliant report
• Local area expertise
• Fast turnaround available
• Experience with listed buildings
• Flood risk assessment knowledge

When you repay your Help to Buy equity loan, the amount you pay is based on the current market value of your property at the time of repayment, not the original purchase price. This means if your property has increased in value, your repayment amount will be higher. Conversely, if property values have fallen, you may repay less than the original loan amount. Nationally, Help to Buy equity loan repayments have shown an average uplift of over 10% compared to the original loan value, though this varies significantly by location and property type.

For properties in the South East region, the price cap under the Help to Buy scheme was £437,600. Properties in the Houghton and Arundel area, with average prices in the BN18 9 postcode reaching around £4,860 per square metre, often fall within or near this threshold. Understanding your property's current market value is essential for planning your finances ahead of redemption. Our valuers can provide you with a detailed breakdown of how your property's current value affects your equity loan repayment amount.

The valuation must be carried out by a RICS registered valuer who holds MRICS or FRICS status (not AssocRICS) and is specifically registered to undertake valuations in accordance with RICS Valuation - Global Standards (the Red Book). Our team meets all these requirements and understands the specific needs of Help to Buy valuations in the South East region. We ensure our reports meet the strict requirements set by the Homes and Communities Agency for equity loan redemption.

that the Arun district has seen some interesting demographic shifts in recent years. The population increased by 10.2% from approximately 149,500 in 2011 to 164,800 in 2021. Meanwhile, home ownership decreased from 73.8% to 71.2%, while private renting increased from 15.3% to 18.2%. These trends can affect property demand and values in the area, and our valuers take such factors into account when assessing your property.

Several factors specific to Houghton can affect your valuation beyond the basic property characteristics. The local geology plays a role, as the northern half of the Arun district falls within the South Downs National Park, which is predominantly chalk. While this creates the beautiful rural landscape that makes the area attractive, clay soils in the region can pose a shrink-swell risk that affects foundations. Our valuers understand these local geological considerations and how they might impact property values.

The presence of listed buildings in Houghton is another significant factor. The village has a concentration of Grade II listed properties, particularly along The Street and South Lane. These properties often require specialist considerations in valuations, as listing status can affect both what improvements can be made and the property's appeal to certain buyers. Our team has experience assessing heritage properties and understands how to factor these considerations into your valuation accurately.

New build activity in the wider Arundel area, including developments such as The Arun Apartments (2-bedroom apartments within walking distance of Arundel town centre) and Arundel Gate (a 15-minute walk from the historic town centre), can also influence valuations in the area. While specific new-build developments within Houghton itself are limited, these nearby developments and the overall housing stock in the BN18 9 postcode area provide important context for comparables.