Shared Ownership Valuation in FY6

A shared ownership valuation is a specialised assessment required when you want to purchase additional shares in your property, known as staircasing, or when you decide to sell your share on the open market. In the FY6 area, where shared ownership schemes have expanded through developments like Moorfield Park by Jones Homes, understanding your property's market value is essential for making informed financial decisions. The valuation determines the price you will pay for additional shares or the amount you will receive when selling your share to another buyer or back to the housing association.

The process involves a RICS qualified surveyor visiting your property to assess its current market value based on comparable sales, property condition, and local market trends. For properties in the FY6 area, our surveyors draw on extensive knowledge of the local market, including recent sales data from Poulton-le-Fylde and surrounding villages. The average property in FY6 sells for approximately £242,840, though this varies significantly by property type, with detached properties averaging £324,732 and terraced homes around £169,705.

Our valuers understand that the local market has experienced some correction, with prices approximately 6% down on the previous year and 4% below the 2023 peak of £252,356. This context is vital for shared ownership valuations, as our surveyors must consider current market conditions, recent comparable sales, and the specific characteristics of your property to provide an accurate assessment that reflects real market conditions. We examine every factor that could affect value, from the property's position within the development to any leasehold terms that may impact marketability.

The Fylde area has seen population growth of 7.4% between 2011 and 2021, reaching approximately 81,400 residents. This growth has driven demand for housing, including shared ownership properties, making accurate valuations increasingly important for homeowners looking to staircase or sell their shares. Our local expertise means we can account for these demographic trends when assessing your property's value.

• Staircasing assessments
• Share sale valuations
• Remortgage valuations
• Help to Buy transfers

The FY6 postcode area has seen substantial new build activity in recent years, with several developments offering shared ownership options. Moorfield Park by Jones Homes in Poulton-le-Fylde (FY6 7SY) offers 3, 4, and 5 bedroom houses with prices ranging from £237,995 to £499,995, including shared ownership properties. This development represents the growing opportunity for buyers to enter the property market through shared ownership schemes in the area. Our valuers are familiar with the specific lease terms and shared ownership arrangements at Moorfield Park, allowing us to provide accurate valuations that reflect the nuances of these modern schemes.

Roman Heights by Seddon Homes, located at FY6 8HP, offers 2, 3, and 4 bedroom homes from approximately £233,745, with some properties available after a 5% deposit contribution. Other notable developments include Granary Fields by Baxter Homes and Waterside Meadows, where 4-bedroom detached properties have sold for between £337,950 and £404,950. Understanding the specific details of these developments is crucial for accurate shared ownership valuations, as new build premiums and the terms of shared ownership leases vary significantly.

The local authority, Fylde, has seen its population grow by 7.4% between 2011 and 2021, reaching approximately 81,400 residents. This population growth has driven demand for housing, including shared ownership properties, making accurate valuations increasingly important for homeowners looking to staircase or sell their shares. The housing stock in the area reflects this demand, with semi-detached properties comprising 31.5% of households, detached homes at 23.2%, terraced properties at 23.2%, and flats at 21.7%.

We have conducted valuations on properties across all these development types, giving us practical insight into how factors such as lease length, ground rent provisions, and housing association management fees can affect market value. This hands-on experience means we can identify issues that might affect your valuation and ensure the report addresses all factors relevant to shared ownership properties in the FY6 area.

Several specific factors influence shared ownership valuations in the FY6 area that differ from other parts of the UK. The local economy, driven by tourism, retail, and healthcare sectors, affects both employment levels and housing demand. The proximity to Blackpool and the wider Lancashire coast also impacts property values, with Poulton-le-Fylde offering good transport links to larger employment centres while maintaining a more affordable price point than coastal locations.

The condition of the local housing stock varies significantly across the FY6 area. Poulton-le-Fylde town centre features many Victorian and Edwardian properties, some of which fall within the designated conservation area. These older properties may have different maintenance requirements and renovation histories that affect their market value. Our surveyors are experienced in assessing these older properties and understanding how their character features impact valuation.

New build properties, while often representing excellent value, come with their own set of valuation considerations. The initial new build premium seen in recent developments such as Moorfield Park and Roman Heights can fluctuate as the developments mature and more comparable sales become available. Our valuers understand these market dynamics and can provide realistic assessments that reflect both the quality of new build construction and current market conditions.

Flood risk is an important consideration for some properties in the FY6 area, particularly those near the Wyre estuary and coastal areas. While Poulton-le-Fylde itself is not in a high-risk flood zone, certain low-lying areas may be affected. Our surveyors consider all environmental factors that could impact property value, including flood risk, and include relevant information in your valuation report.