Shared Ownership Valuation in RG24 | From £250 | RICS Registered

A shared ownership valuation is a specialised assessment required when you want to staircase (buy additional shares), remortgage, or sell your shared ownership property. Unlike standard mortgage valuations, this report determines the full market value of your property and the percentage equity you currently hold. In the RG24 area, where property types range from modern flats to Victorian terraces in Old Basing, having an accurate valuation is essential for making informed financial decisions about your home. Our valuers understand how different property types perform in the local market and can provide insights specific to your situation.

The RG24 postcode covers several distinct neighbourhoods, each with its own character and market dynamics. Chineham features predominantly post-1980s residential development with good local amenities, while Old Basing offers period properties in a historic village setting with its designated Conservation Area around The Street and St Mary's Church. Properties near the River Loddon require particular attention during valuation due to potential flood risk considerations, and our surveyors have extensive local knowledge of how these factors affect property values across the area. We also consider the impact of the M3 motorway and rail connections to London, which make RG24 attractive to commuters and support demand for housing.

The local market has seen steady growth, with prices increasing by 1.92% over the last twelve months according to Property Solvers data. However, Rightmove reports that prices are currently 1% down from the 2023 peak of £385,861. This context is important for shared ownership valuations, as we must consider both recent trends and longer-term market performance when assessing your property's worth. The majority of sales in RG24 fall within the £268,000 to £346,000 range, representing terraced and semi-detached properties that form a significant portion of the shared ownership stock in the area. Understanding these trends helps us provide you with an accurate valuation that reflects current market conditions.

New build activity in RG24, particularly at developments like Cane Hill Park where Linden Homes, David Wilson Homes, and Barratt Homes are active, contributes to the area's housing supply. These developments often include shared ownership options through partnerships with housing associations like Sovereign Housing Association, Vivid Homes, and Aster Group. Our valuers understand the specific considerations affecting new build shared ownership properties, including the impact of lease terms, any remaining NHBC warranty period, and how new build premiums or discounts affect valuations. If you are purchasing additional shares in a new build property, we can advise on how these factors may influence your staircase valuation.

• Staircasing assessments
• Resale valuations
• Remortgage valuations
• Shared ownership staircasing
• Help to Buy valuations
• Equity release assessments

Several geographical and environmental factors specific to RG24 influence property valuations. The area sits on predominantly chalk bedrock, with superficial deposits of clay-with-flints in certain locations. While chalk geology generally provides stable ground conditions, the clay-with-flints deposits can pose a moderate shrink-swell risk, particularly in areas with mature trees. Our valuers consider these ground conditions when assessing properties, as they may affect long-term structural integrity and therefore value. Properties with large trees nearby may require additional investigation to assess any potential impact on foundations.

Flood risk is another important consideration for properties in RG24. The River Loddon flows through parts of the area, including Chineham and Old Basing, creating potential fluvial flood risk for properties close to the river and its tributaries. Surface water flooding is also a concern in urban areas during periods of heavy rainfall. Properties with flood risk may require additional insurance considerations, which our valuers factor into their assessments. Old Basing, with its Conservation Area status and number of listed buildings, presents unique valuation considerations. Historic properties in this area may benefit from period features but could also require more maintenance, potentially affecting their market positioning compared to newer builds in neighbouring Chineham.

The local economy supports property values through employment opportunities in sectors including technology, healthcare, and retail. Basingstoke Hospital provides significant healthcare employment, while companies like Huawei maintain a presence in the town. The good transport links via the M3 motorway and rail connections to London make RG24 attractive to commuters, supporting demand for housing in the area. These economic factors contribute to the relative stability of the local property market and are reflected in our valuation assessments. The town's position as an economic hub in Hampshire makes it an attractive location for buyers seeking employment opportunities combined with good transport links to the capital.

Several circumstances require a shared ownership valuation in the RG24 area. Staircasing is one of the most common reasons, allowing shared owners to purchase additional shares in their property, working towards full ownership. The cost of additional shares is calculated based on the current market value of your property, making an accurate valuation essential for determining the correct price. Our valuation report will provide the full market value figure needed by your housing association to calculate the cost of your additional share. Many shared owners in RG24 choose to staircase as their financial situation improves, and getting the valuation right is crucial to this process.

Remortgaging your shared ownership property also requires a valuation. Whether you are looking to change lender or simply remortgage to secure a better interest rate, your mortgage provider will need to know the current market value of your share. Our valuations are accepted by all major lenders and provide the detailed information needed for your remortgage application. If you are looking to release equity from your property or switch to a more competitive mortgage deal, we can provide the valuation report your lender requires.

If you decide to sell your shared ownership property on the open market, you will need a valuation to set the correct asking price. Unlike traditional sales, shared ownership properties must also be offered to other prospective shared owners through your housing association first. Our valuation report helps you understand your property's worth and navigate this process effectively. Additionally, some owners may require a valuation for equity release purposes or to settle financial matters during relationship breakdowns, and our team can provide reports suitable for these situations. The shared ownership resale process has specific timelines and requirements that we can help you understand.