Shared Ownership Valuation in Dundee

A shared ownership valuation is a specialized assessment required by mortgage lenders and housing associations when purchasing or staircaseing a shared ownership property. In Scotland, shared ownership typically involves purchasing between 25% and 75% of a property's full market value, with rent payable on the remaining share. The valuation determines the current market value of the entire property, which establishes the purchase price for your chosen share and the rent that will be charged on the housing association's retained share.

Dundee has become an increasingly popular location for shared ownership, partly due to the city's affordable property prices compared to Edinburgh and Glasgow, with average prices around £141,000 to £202,000 depending on the source. The Scottish Government's New Supply Shared Equity (NSSE) scheme also operates in Dundee, where buyers can purchase between 60% and 80% equity, with the government providing an interest-free loan for the remaining 20% to 40%. At the Ballindean Road development by Caledonia Housing Association, properties range from £160,000 to £200,000 for shared equity homes, making it one of the most affordable routes to home ownership in Scotland.

The valuation process involves a thorough inspection of the property, comparable market analysis of similar properties in Dundee, and consideration of factors such as location, condition, and any defects specific to the property type. For shared ownership properties, we also assess the lease terms and any restrictions that may affect value. Our reports are designed to meet the specific requirements of your mortgage lender and housing association, ensuring a smooth transaction whether you are purchasing at a new development or staircaseing in an existing property.

Our valuers use their local knowledge of Dundee neighbourhoods to identify factors that may affect value, from proximity to the waterfront regeneration areas to the presence of historical tenement construction in areas like the Hilltown and Stobswell. We understand how the ongoing development at the V&A Dundee and surrounding commercial developments has impacted property values in the city centre and West End areas.

• RICS Certified Valuers
• Same-Day Appointments Available
• All Mortgage Lenders Accepted
• Housing Association Approved

When purchasing a shared ownership property in Dundee, it is important to be aware of issues specific to the local housing stock. Dundee has the highest concentration of Reinforced Autoclaved Aerated Concrete (RAAC) in Scotland, with nearly 900 households affected. This includes 526 social or council housing properties and 361 privately owned homes, many of which were former council homes bought under Right to Buy. While most identified properties are not an immediate safety risk, if you are considering a property built between the 1960s and 1980s, particularly in former council housing areas, you should ask about RAAC and factor any remediation requirements into your decision.

The local geology also presents considerations. While Dundee's bedrock is Old Red Sandstone, clay-rich soils at the surface can pose shrink-swell subsidence risks, particularly for properties with mature trees nearby or in areas with variable ground conditions. Our valuers assess these factors during the inspection and report on any visible signs of movement or potential issues that could affect the property's value. Climate change is predicted to increase the frequency and severity of shrink-swell events, making this an important consideration for long-term ownership.

Flood risk varies across Dundee, with coastal areas of Broughty Ferry at significant risk from the Firth of Tay and properties near the Dighty Water facing riverine flood concerns. The city has invested significantly in flood protection schemes, with the Broughty Ferry coastal protection completed in 2023 and central Dundee protections finished in 2019. However, if you are purchasing in a designated flood risk area, this should be reflected in your insurance costs and long-term maintenance considerations.

Dundee has a diverse housing stock reflecting different eras of construction, from Victorian tenements in the city centre to post-war semis in suburban areas and modern new builds at developments like Craigowl Law and Strathmartine Park. Our valuers understand the typical construction methods used in each period, whether traditional stone and masonry tenement construction or modern timber-frame builds, and can identify defects common to each type, including the wood rot that has been identified as the most common defect in Dundee properties.

• Check Property's Construction Date
• Enquire About RAAC in Older Properties
• Consider Flood Risk in Broughty Ferry Areas
• Review Lease Terms with Housing Association