Shared Ownership Valuation in Exmouth

A shared ownership valuation is a specialized RICS assessment that determines the full market value of your property and the percentage share you own. This differs from a standard mortgage valuation as it must be conducted by a RICS-registered valuer and is specifically designed to meet the requirements of housing associations and mortgage lenders participating in shared ownership schemes. The valuation report includes formal confirmation of the market value, comparable sales evidence, and specific calculations required for staircasing transactions.

Our valuers inspect every aspect of your property relevant to its market value, including the condition of the structure, any alterations or improvements you have made, and the overall presentation of the home. We measure all rooms, photograph key features, and note any modifications from the original specification. For flats, we also assess service charge costs, lease length remaining, and any ongoing maintenance issues that might affect value.

For properties in Exmouth, we particularly assess flood risk factors given the town's coastal location and the presence of flood zones around the docks, Victoria Road, and The Esplanade areas. The East Devon coastline poses specific considerations for mortgage lenders, and our valuation reports explicitly address flood risk to ensure housing associations and lenders have complete information. Properties in designated flood zones may require additional buildings insurance verification.

The valuation report includes a detailed breakdown of how we arrived at the market value, comparable sales evidence from similar properties in Exmouth and surrounding East Devon villages, and confirmation of the remaining lease term. This report is accepted by all major housing associations including LiveWest, Ocean Housing, and Homes England, as well as by mortgage lenders for remortgaging purposes.

• Full market value assessment
• Comparable sales analysis
• Leasehold/ground rent review
• Staircasing calculations
• Housing association acceptance
• RICS-compliant report

Exmouth's property market presents unique considerations for shared ownership valuations. The town has a well-balanced housing mix with 27% detached properties, 27% semi-detached, 24% flats, and 23% terraced homes. This diversity means comparable sales evidence must be carefully selected to match your property type, location within Exmouth, and bedroom count. Our valuers maintain a database of recent sales in the area and understand which neighbourhoods command premiums.

The average property price in Exmouth stands at £438,625, with detached properties averaging around £495,000 and flats at approximately £222,000. Recent price trends show a 3.2% increase over the past 12 months according to HM Land Registry data, though some sources indicate slight cooling from the 2023 peak. For shared ownership properties, these market conditions directly impact both the full market value and the potential for future staircasing decisions.

Location plays a significant role in Exmouth valuations. Properties within the Conservation Area, which includes The Beacon, Louisa Terrace, Bicton Street, and Albion Street, may command premiums due to their character and the 84 listed buildings in the area. Conversely, properties in flood-risk zones around the docks, Marine Way, and Exeter Road require specific consideration in our valuation methodology, and some mortgage lenders may request additional information about flood resilience measures.

The age of housing stock in Exmouth also affects valuations. The town features a mix of Georgian, Victorian, and Edwardian properties alongside modern developments. Older period properties may require additional assessment for structural considerations common to traditional construction in the South West, including potential issues with lime render, timber windows, and traditional roof coverings. Our valuers understand these local construction characteristics and factor them into their assessments.

• Flood zone considerations
• Conservation area premiums
• New build vs period property
• Lease length remaining
• Service charge costs
• Local amenities access

When assessing shared ownership properties in Exmouth, our valuers are trained to identify issues common to the local housing stock. Given the town's coastal location, properties can be susceptible to damp and condensation issues, particularly in older period buildings where original ventilation systems may not meet modern standards. We note any signs of damp, mold, or poor ventilation that might affect the property's condition and value.

Properties in Exmouth also face specific environmental considerations. The town sits on clay-rich soils that can experience shrink-swell movement during periods of drought or heavy rainfall. This is particularly relevant for older properties with trees or vegetation nearby. Our valuers assess any signs of structural movement, cracks, or subsidence indicators that might affect the property's long-term stability and market value.

For properties near the coast, salt contamination can affect building materials over time. We inspect for corrosion on metal fixtures, deterioration of external renders, and any salt efflorescence on walls. These are common issues in Exmouth's coastal environment and are factored into our valuation assessments alongside the overall condition of the property.

Flat owners in Exmouth should also be aware of service charge implications. Many purpose-built flats in the town have ongoing service charges that cover maintenance of communal areas, buildings insurance, and cleaning. These costs vary significantly between developments and are an important factor in both the valuation and the affordability assessment for shared ownership properties.

• Damp and condensation
• Structural movement
• Roof condition
• Window and door fitting
• Drainage issues
• Service charge costs

Staircasing allows shared owners to increase their ownership share in their property, eventually leading to full ownership in most cases. In Exmouth, where shared ownership properties at Goodmores start from £250,000 and at Plumb Park reach full market values of £265,000, staircase increases represent significant financial decisions. Our valuation determines the market value at the time you wish to purchase additional shares, ensuring you pay the correct price based on current market conditions.

Most shared ownership buyers start with a 25-30% share and staircase in increments, though some housing associations allow staircase from as little as 10%. The cost of additional shares is calculated based on the current market value, not the price you originally paid. This is why an up-to-date RICS valuation is essential - market conditions in Exmouth have changed by over 3% in the past year alone, meaning the value of your property and the cost of additional shares can fluctuate significantly.

It is worth noting that rent on the unowned portion typically increases annually, often linked to the Retail Price Index plus 0.5%. Many owners choose to staircase to reduce their monthly outgoings and increase their equity stake. Our valuers can provide guidance on how different staircase levels might affect your overall financial position. We recommend obtaining a valuation before beginning the staircase process to understand exactly what additional shares will cost.

Some properties in Exmouth may have restrictions on staircase, particularly those with specific planning conditions or affordable housing covenants. Your housing association can confirm the maximum staircase percentage available for your property. Our valuation report will include all information required by your housing association to process the staircase application, including the formal market value and comparable evidence.