Shared Ownership Valuation in Boarhunt

Shared ownership properties require a specific type of valuation that differs significantly from standard residential valuations. When you purchased your shared ownership home in Boarhunt, you bought a percentage of the property while paying rent on the remaining share owned by the housing association. A shared ownership valuation determines the current market value of your property in full, which then calculates the value of your specific share based on the lease terms and any improvements you have made since purchasing your initial share.

For those looking to staircase and buy additional shares, the valuation is essential as it determines exactly how much you will pay for each extra percentage of ownership. The current market conditions in Boarhunt, with prices 12% down from the 2023 peak of £926,818, mean that accurate, up-to-date valuations are more important than ever. Our valuers understand the local market nuances, including the impact of new developments like those on Trampers Lane where luxury homes are selling in the £975,000 to £1,095,000 range, and the affordable housing scheme at Winecross Cottages being developed by Winchester City Council's New Homes Team.

The valuation report must be carried out by a RICS registered valuer and is typically required by your housing association, mortgage lender, or leasehold reform provider before proceeding with any transaction. Our reports include detailed information on the property's condition, thorough local market analysis of comparable properties in Boarhunt and the wider Winchester area, and precise calculations of your equity share value. All reports meet the specific requirements of Homes England and follow strict RICS valuation standards, ensuring they are accepted by all major housing associations operating in Hampshire.

• Staircasing applications
• Remortgaging shared ownership
• Selling your share
• Lease extension calculations
• Equity release assessments
• Housing association reviews

Boarhunt presents a distinctive property market shaped by its rural character and proximity to Portsmouth and Winchester. The village sits along and across the Portsdown ridge, with varied geology that includes London Clay soils in lower areas and chalky soils on the hilltops. This geological variation can affect property foundations and values, and our valuers understand how local ground conditions may impact property assessments. The presence of clay soils in some areas means we pay particular attention to potential shrink-swell movement that can affect foundations.

The village has seen significant growth, with North Boarhunt's population increasing by 40% since 2011 to reach 840 residents. This growth has been accompanied by new development, including individual luxury homes on Trampers Lane and the affordable housing scheme being developed by Winchester City Council's New Homes Team at Winecross Cottages. The presence of historic properties, including the Grade I listed Church of St Nicholas dating from the 11th century and numerous Grade II listed buildings, adds character to the area and can affect property values both positively and through conservation restrictions.

The high water table in parts of the parish, due to springs and underground streams, and the River Wallington flowing through the village are factors our valuers consider when assessing properties. Properties in certain locations may be more susceptible to damp or drainage issues, which our valuers take into account when assessing condition and value. The conservation area character and listed buildings also mean that some properties may have restrictions or specific considerations affecting their market value. We assess each property individually based on its specific location and characteristics.

Boarhunt's proximity to Portsmouth makes it attractive for commuters, while the village maintains its rural charm with facilities including the Memorial Village Hall, a combined village shop and Post Office, and the Boarhunt Garage. The area of Boarhunt and Southwick recorded 11 property transactions within the last three years, showing consistent activity in this sought-after location. Our valuers have extensive local knowledge and understand how these factors affect valuations across different parts of the village.

Several specific factors influence the valuation of shared ownership properties in Boarhunt beyond standard market conditions. The remaining lease term is a critical consideration, as shorter leases can significantly reduce property values and affect your ability to staircase. If your lease has less than 80 years remaining, the valuation may need to account for the cost of a lease extension, which can affect the amount you can staircase or the price you can achieve when selling your share on the open market.

Improvements you have made to the property since purchase can also affect the valuation, and we encourage you to provide documentation of any upgrades. This includes fitted kitchens or bathrooms, conservatories, extensions, or energy efficiency improvements such as new heating systems or double glazing. Our valuers will assess these changes and, where supported by evidence of expenditure, may reflect them in the valuation. The quality of improvements in Boarhunt's competitive market can make a significant difference to property values, particularly for properties in sought-after locations near the village centre or with rural views across the South Downs.

The specific terms of your lease, including the initial share purchased and any restrictions on staircasing, are fundamental to calculating your equity value. Different housing associations have varying policies on maximum shares, staircasing increments, and administrative fees that can affect your options. Our valuation reports clearly break down the full market value, your owned percentage, and the corresponding financial value of your share, making it easy to understand your position and plan your next steps whether that involves staircasing, remortgaging, or selling.

Additional factors that may affect your valuation include the condition of the property's roof, walls, and foundations, particularly given Boarhunt's varied geology and high water table in some areas. Properties with modern heating systems, double glazing, and good energy efficiency ratings may command a premium in the current market. Our valuers conduct a thorough assessment of all these elements to ensure your valuation report accurately reflects the true market value of your shared ownership property in Boarhunt's unique market conditions.