Shared Ownership Valuation in Earl Shilton

A shared ownership valuation is a specialised assessment carried out by a RICS-registered valuer to determine the full market value of a shared ownership property. This type of valuation differs from a standard mortgage valuation because it considers the unique nature of shared ownership schemes, where you own a percentage of the property while paying rent on the remaining share owned by a housing association. The valuation report provides you with the current market value of the entire property, which is essential for calculating the value of your specific share.

In Earl Shilton, where the property market has shown steady growth with prices increasing by 5.2% in the last year, obtaining an accurate valuation is particularly important. The valuation takes into account various factors including the condition of the property, comparable sales in the local area, and the specific terms of your shared ownership lease. With 132 residential property sales in the area over the past year, our valuers have access to comprehensive local market data to ensure your valuation reflects the true current market conditions.

The valuation report will include details about the property's current market value, the value of your owned share, and any other relevant information required by your housing association or mortgage lender. This is particularly important for residents in the LE9 7 postcode sector, which encompasses Earl Shilton and neighbouring Broughton Astley, where the shared ownership market has been growing alongside new developments like those offering 2, 3, and 4-bedroom homes.

• Full market value assessment
• Share value calculation
• RICS-registered valuer
• Acceptable to all housing associations
• Fast turnaround times

Shared ownership has become an increasingly popular route to homeownership in Earl Shilton and the surrounding Hinckley and Bosworth area. With detached properties averaging over £330,000 and even terraced homes reaching nearly £193,000, many first-time buyers find the traditional housing market in Leicestershire challenging to enter. Shared ownership offers an alternative path, allowing you to purchase a share of a property while paying rent on the remaining portion owned by a housing association.

Platform Housing Group is one of the major housing associations operating across the Midlands, including Leicestershire, providing affordable shared ownership opportunities. The LE9 area, which includes Earl Shilton and Broughton Astley, has seen active shared ownership developments. With 439 sales taking place in the LE9 7 sector over the past 24 months, there is a healthy market for shared ownership properties in the local area. Our valuers are familiar with the housing associations active in this region and understand the specific requirements of their shared ownership schemes.

When considering staircasing or selling your shared ownership property in Earl Shilton, it is important to understand how property price growth in the area affects your position. With prices increasing by 5.2% in the last year, owners who purchased even two years ago may find their property has appreciated significantly. However, the market did see a slight dip of 3% from the 2023 peak of £250,898, making professional valuation essential to understand your current position accurately.