Shared Ownership Valuation in Plymouth

Shared ownership is governed by strict rules set by Homes England and individual registered providers. When you want to staircase - buying additional shares of your home from the housing association - the price of those shares is calculated as a percentage of the current open market value. That open market value must be established by an independent RICS-registered valuer, not by an estate agent or an automated tool.

The same requirement applies when you first buy a shared ownership property on the secondary market (resales), when you want to sell your shared ownership home back to the housing association under the nomination period, and in certain remortgage situations. Without a compliant Red Book valuation, your housing association cannot confirm the share price, and your solicitor cannot complete the transaction.

Three major registered providers are active across Plymouth's shared ownership market: LiveWest - one of the largest providers in the South West - along with Guinness Partnership and Sovereign. Each has slightly different panel requirements and valid-for periods on valuations. We are familiar with all three and produce reports formatted to meet their specific requirements, reducing the chance of your valuation being queried or rejected.

Our Plymouth valuers hold RICS membership at either AssocRICS or MRICS level and carry full professional indemnity insurance. Every report we produce is a formal RICS Red Book valuation, which is the only format accepted by housing associations and mortgage lenders for shared ownership transactions.

Plymouth has several active new-build developments where shared ownership homes are available or where staircasing demand is already building. Understanding these developments helps us carry out accurate comparable analysis when preparing your valuation.

• Saltram Meadow, Plymstock (PL9) - developed by Persimmon Homes and Charles Church, offering a mix of 2 to 5-bedroom homes, with shared ownership available on selected plots
• Sherford, Plymouth (PL9) - a major new community on the eastern edge of Plymouth, developed by Taylor Wimpey, Linden Homes, and Bovis Homes, with a wide range of 2 to 5-bedroom properties
• Palmerston Heights, Derriford (PL6 5US) - a Barratt Homes development offering 2, 3, and 4-bedroom homes in the north of the city
• Tamar View, Forder Valley Road (PL5 3SP) - a Linden Homes development in the north-west of Plymouth with 2, 3, and 4-bedroom homes

Beyond these active sites, Plymouth has a substantial stock of existing shared ownership homes spread across areas including Plymstock, Plympton, St Budeaux, and Efford. Many of these were built during the 1990s and 2000s by housing associations and are now at various stages of shared ownership. Staircasing instructions from these older developments make up a significant portion of our Plymouth workload.

New build properties in the Plymouth postcode area averaged £336,000 according to Plumplot's most recent data. For shared ownership purposes, the valuation reflects the full open market value of the property - your share price is then calculated as a percentage of that figure. A £336,000 new build purchased at a 25% share, for example, would require a deposit on a £84,000 share purchase.

Plymouth is one of the larger cities in the South West, with a population of around 264,000 and a housing stock shaped by its naval history and significant post-war rebuilding. The city was heavily bombed during the Second World War, which means that much of the older housing stock in central Plymouth dates from the 1950s and 1960s. Areas like Efford, Ernesettle, and parts of St Budeaux contain large amounts of post-war social housing, some of which has been sold under right-to-buy schemes and is now part of the private market.

Plymouth's housing mix is dominated by terraced properties, which accounted for 35.4% of sales in the last 12 months according to Property Market Intel. Detached properties made up 26.8% of sales, semi-detached 24.6%, and flats 13.1%. For shared ownership valuations, flats in Plymouth average £152,469, while the terraced market averages £222,094. These figures are relevant benchmarks when your housing association or solicitor reviews your valuation report.

Plymouth's geology is primarily Devonian limestone and shales, which generally provides stable building foundations. However, some areas of the city have superficial clay deposits that can cause shrink-swell movement, particularly near mature trees. The city also sits at the confluence of the Rivers Plym and Tamar, creating flood risk in low-lying areas near the waterfront. Coastal areas adjacent to Plymouth Sound carry tidal and storm surge risk. While these factors affect a structural survey rather than a pure valuation, they do affect the marketability of some properties and therefore their open market value.

Conservation areas and listed buildings are concentrated in the Hoe, the Barbican, and parts of Devonport. Properties within conservation areas often have restrictions on alterations that can affect their appeal to buyers, which is a consideration our valuers factor in when assessing open market value. The Barbican in particular - with its narrow Elizabethan streets and Mayflower Steps - commands premium values due to its unique character, but also attracts buyers who are specifically seeking that environment.

Staircasing means buying additional shares of your home from the housing association until you own it outright or reach the maximum staircase level permitted under your lease. Most shared ownership leases allow staircasing in tranches of 10% or more, though some older leases have different terms.

With Plymouth average sold prices rising 3.2% year-on-year according to ONS data for December 2025, staircasing sooner rather than later can be financially advantageous in a rising market. The share price is based on the open market value at the time you staircase, not the price you originally paid. If values have increased since your initial purchase, staircasing will cost more per tranche - but you will also be buying a larger share of a more valuable asset.

The valuation for a staircase transaction follows the same process as an initial purchase valuation. We inspect the property, carry out comparable analysis in the local Plymouth market, and produce a Red Book report. Your housing association then confirms the share price based on our figure and your lease terms.

Plymouth has seen active staircasing demand particularly in the Sherford development, where early purchasers are now reaching the point where they have sufficient equity to buy additional shares. The development's location on the eastern edge of the city and its community facilities have supported values, making staircasing a practical option for many residents there.