Shared Ownership Valuation in Blackpool

Shared ownership properties require specific valuations that differ from standard mortgage valuations. When you initially purchased your home, you bought a share typically between 25% and 75% of the property's full market value, with the remaining portion owned by a housing association. A shared ownership valuation is essential when you want to staircase (buy additional shares), sell your property, or remortgage, as it determines the current open market value of your home.

Blackpool's housing market has seen some price adjustments recently, with overall prices decreasing by 2.22% over the past year. This makes accurate, up-to-date valuations even more important for homeowners looking to staircase or sell. Our valuers understand local market conditions, including the impact of recent price trends on different property types, from the traditional terraced houses that make up 40.5% of the housing stock to the newer developments in areas like Marton and South Shore.

The geology of Blackpool also plays a role in property values. The underlying clay deposits, particularly the till and Mercia Mudstone, create a moderate to high shrink-swell risk that can affect foundations and structural integrity. Our valuers consider these local environmental factors when assessing your property's value, ensuring the report reflects all relevant local knowledge.

• Staircasing to increase your equity share
• Selling your shared ownership property
• Remortgaging to a different lender
• Renting out your share (subject to approval)

Blackpool has several new build developments that offer shared ownership options, making it an attractive area for first-time buyers looking to get onto the property ladder. The Sycamores in Marton (FY4 4XQ), a Persimmon Homes development off Preston New Road, offers 2, 3, and 4-bedroom homes with shared ownership options available on select plots. Prices for these properties start from around £194,995 for the full market value of a 3-bedroom semi-detached home.

Hawkswood, also by Persimmon Homes in the Marton area (FY4 5PL), provides similar shared ownership opportunities with 2, 3, and 4-bedroom properties. For those seeking larger detached homes, The Dunes development by Charles Church offers 3, 4, and 5-bedroom properties with shared ownership options, with prices starting from £259,995. These developments represent excellent opportunities for buyers looking to purchase in a more affordable coastal location while benefiting from the government's shared ownership scheme.

If you already own a shared ownership property in one of these developments or other housing associations operating in Blackpool, such as Great Places Housing Group, Onward Homes, Regenda Homes, Sanctuary Housing, or Together Housing, you will need a professional valuation when looking to staircase or sell. Our valuers have experience with all these housing associations and understand their specific requirements.

Given the age and construction of much of Blackpool's housing stock, our valuers frequently encounter several common defects during inspections. Dampness issues are particularly prevalent in the Victorian and Edwardian terraced properties that dominate the housing market, with rising damp, penetrating damp, and condensation affecting many homes due to inadequate ventilation or maintenance. These issues can significantly impact property values if not addressed properly.

Roof defects are another frequent finding during our valuations. Worn or slipped tiles, defective flashings, and problems with gutters and downpipes lead to water ingress that damages both the structure and interior finishes. Timber defects including wet and dry rot, along with woodworm infestations, commonly affect structural timbers, floorboards, and roof structures, especially in properties with existing damp problems.

The underlying clay geology in Blackpool creates additional considerations for property valuations. The moderate to high shrink-swell potential of the till and Mercia Mudstone deposits means properties can be susceptible to subsidence or heave, particularly where trees are nearby or drainage is poor. Our valuers carefully assess foundations and look for signs of structural movement, including cracking in walls that may indicate ongoing or historic foundation issues.

Several unique local factors can influence the value of your shared ownership property in Blackpool. The town's coastal location creates both opportunities and challenges. While the seaside setting and attractions like Blackpool Tower and the Pleasure Beach make it a popular destination, the risk of coastal flooding and surface water flooding can impact property values in certain areas, particularly those near the promenade and low-lying sections. The Environment Agency identifies significant surface water flood risk in urban areas where heavy rainfall can overwhelm drainage systems.

Blackpool's housing stock is predominantly Victorian and Edwardian, with terraced houses comprising 40.5% of properties and semi-detached homes at 27.2%. These older properties often require more maintenance and may have issues such as damp, outdated wiring, or roof defects. The conservation areas, including North Promenade, Claremont Park, Stanley Park, and Layton, have specific protections that can affect what modifications owners can make to their properties.

The predominant building materials in Blackpool include red brick for terraced and semi-detached housing, with many properties featuring rendered facades or pebbledash finishes. Roofing typically uses slate or concrete tiles. Traditional masonry construction with solid brick walls or cavity walls is common, along with timber roof trusses and suspended timber floors in older properties. Our valuers understand these construction methods and how they affect property values.