Red Book reports for staircasing, assignment, remortgage, and lease extension.
Regulated
Our RICS-registered valuers produce a Red Book valuation that housing associations accept, with a fixed fee and a fast 5 working day turnaround after inspection. Stevenage's average sold price of £351,623 sits in our £300k to £500k band, so most local instructions start from £425. Shared ownership brings extra admin, and we keep the valuation side clear and practical from the first instruction.
Across SG1 and SG2, the mix is varied. We regularly see instructions for flats and terraces around Broadhall Way, Fairlands Way, and London Road, plus older homes near Old Town High Street. A leaseholder at Aspects on Broadhall Way does not need a vague letter, they need a Red Book report that sets out the open market value in a format the landlord can read and use.
£351,623
Overall average sold price, homedata.co.uk
-1.03%
12-month price change, homedata.co.uk
1,326
Total sales in the last 12 months, homedata.co.uk
£598,590
Detached average sold price, homedata.co.uk
£400,000
Semi-detached average sold price, homedata.co.uk
£320,000
Terraced average sold price, homedata.co.uk
£215,000
Flats average sold price, homedata.co.uk
57.0%
Homes built 1945-1980
89,200
Population
37,200
Households
£340,000
New-build entry price, home.co.uk
£599,950
Top new-build price, home.co.uk
Using listing data from home.co.uk and property data from homedata.co.uk
Shared ownership in Stevenage usually needs a valuation at the point where the lease terms or the money move. Staircasing is one trigger. Final staircasing is another. Selling your share, known as assignment, also needs a Red Book report before the housing association can work through its own process. Re-mortgaging and lease extension instructions bring the same requirement, because the figure has to be grounded in a RICS valuation, not a guess.
On a flat at The Scene on London Road, the valuation gives the landlord the number used to price the extra share you want to buy. On a terrace near Fairlands Way, it may be the same report that helps with a sale or a lender query. New Model shared ownership, introduced after 2021, can allow 1% staircasing a year, while older Stevenage schemes often still need a 10% minimum step, so the lease matters as much as the postcode.
Selling your share works differently. The housing association usually gets a nomination period of 4 to 8 weeks to find a buyer before you can market openly, so the valuation needs to be ready early. If you are in Old Town High Street, or in a modern block off Broadhall Way, the same principle applies, the report must be current, clear, and signed by a RICS-registered valuer.
Housing associations in Stevenage usually check the inspection date, the valuer's RICS status, and the Red Book format before they accept the report.
A Stevenage example helps because the maths is plain. If homedata.co.uk places a flat at £351,623, a 40% share is £140,649.20, while an extra 10% on an older lease is £35,162.30. On a New Model lease, a 1% staircasing step would be £3,516.23. The Red Book figure sets the base, so the same home in SG2 8EE can produce a different premium after a fresh inspection if the market has moved.
That figure matters on schemes such as Aspects on Broadhall Way, Fairlands on Fairlands Way, and Gladedale at Forster Park off North Road, SG1 4QY. The landlord uses the valuation, not the asking price of a different new build on London Road. We keep the report focused on the lease, the condition seen on inspection, and what similar homes have sold for in Stevenage.
Send us the property details, your lease type, and the reason for the valuation, such as staircasing, sale, or remortgage. We check the value band, so a home in Stevenage near SG1 or SG2 is priced correctly from the start.
We coordinate the inspection time with you, your tenant, or the estate agent if the home is already on the move. If the property is in Old Town High Street or on a busy road like Broadhall Way, we flag access and parking early.
Our RICS-registered valuer inspects the home, notes the layout, condition, leasehold features, and any local factors that may affect value. A flat on London Road is not treated the same as a terrace in Fairlands, because the evidence set is different.
We turn the valuation into a formal Red Book report within 5 working days of inspection. The report sets out the open market value, the basis used, and the figure your housing association expects to see.
You send the report to the housing association, lender, or solicitor as needed. If the report supports a staircase in SG2 or a sale from SG1, the next stage can start without chasing extra paperwork.
Shared-ownership valuations are valid for 3 months from the inspection date, not from the day you first enquire. If your application window is tight, book the inspection so the Red Book report still sits inside that 3-month period when you send it to the housing association.
Most of Stevenage's shared-ownership stock sits in the post-war New Town wave. Homes built between 1945 and 1980 make up 57.0% of the area, which matches the terraces and low-rise blocks around SG2 and the estate-style layouts near Fairlands Way. Terraced homes account for 31.0% of the stock, semi-detached 29.2%, flats, maisonettes or apartments 29.1%, and detached homes 10.3%, so the local leasehold picture is more mixed than many people expect.
Ground conditions matter here too. Stevenage sits on Chalk bedrock with Clay-with-flints, Glacial Till, and some River Terrace Deposits, so shrink-swell movement can matter where clay is near the surface, especially around mature trees or poor drainage. River flooding is generally low, but surface water can build up after heavy rain, which is why a valuer may note localised damp, cracking, or past repair work in streets off Broadhall Way or around London Road.
The town's scale is part of the context. With 89,200 residents and 37,200 households, plus employers such as Airbus, MBDA, and GSK, there is steady movement through the leasehold market around Stevenage station and the town centre retail area. The A1(M) and direct rail services into London shape how people move in and out, but the valuation still comes back to one question, what is the home worth on this street, on this date, in this condition?
Open market value is the number the Red Book report gives for the home as it stands, based on comparable sales nearby. A flat in SG2 will be compared with other flats in SG2 and SG1, not with a detached house on North Road, because size, lease length, parking, and position all change the result. That is why a move from a top-floor flat on Fairlands Way to a ground-floor unit on Broadhall Way can alter the figure.
You usually cannot reduce the number simply because the premium feels high. The better route is a re-inspection if the first visit missed a room, if the loft was inaccessible, or if completed works changed the condition after inspection. For a leaseholder near Old Town High Street, that could matter after damp treatment, window replacement, or another repair that the original report did not see.
The report is valid for 3 months from the inspection date. Housing associations in Stevenage, including schemes around SG1 and SG2, tend to check that date before they look at anything else, so timing the inspection to your application window matters.
Staircasing, final staircasing, selling your share, remortgaging, and lease extension all trigger the need for a Red Book valuation. If you are moving from a flat on Broadhall Way or a terrace near Fairlands Way, the landlord will usually want the formal report rather than a rough estimate.
In shared ownership, the leaseholder usually pays for the valuation. That applies whether the instruction is for a staircase, an assignment sale, or a remortgage, and it is separate from solicitor fees, landlord fees, and any mortgage costs.
We turn the Red Book report around within 5 working days of the inspection. If access is straightforward, a home in Stevenage can move from instruction to completed report quickly, which helps when your lease or sale timetable is tight.
You can ask for a re-inspection if something material has changed, or if access problems meant the valuer could not see part of the property. You usually cannot challenge the figure just because you hoped for a lower premium, especially where the comparables from SG1, SG2, and the wider Stevenage market support the number.
Rejections usually come down to the valuer not being RICS-registered, the report not being in Red Book format, or the report being outside the 3-month validity window. If that happens, we can help you instruct again and keep the paperwork aligned with the landlord's requirements.
On New Model shared ownership introduced after 2021, 1% staircasing a year is usually allowed. Older Stevenage leases often still require a minimum 10% step, so a flat at The Scene on London Road can have a different staircasing route from an older terrace near Old Town High Street.
Selling your share is an assignment, and the housing association usually gets a nomination period of 4 to 8 weeks before the home can be marketed more openly. Final staircasing buys the last share and gives you 100% ownership, so the rent on the unsold share stops once the legal work is complete.
Quote
We can connect you with a solicitor for staircasing, final staircasing, or buying more shares in SG1 and SG2.
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For assignment sales when you sell your share and work through the nomination period.
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Speak to a mortgage broker about remortgaging, affordability, and staircasing plans.
From £700
A survey for leasehold homes, terraces, and flats in Stevenage's post-war stock.
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Help with moving dates across Old Town, SG1, and SG2.
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Red Book reports for staircasing, assignment, remortgage, and lease extension.
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Homemove is a trading name of HM Haus Group Ltd (Company No. 13873779, registered in England & Wales). Homemove Mortgages Ltd (Company No. 15947693) is an Appointed Representative of TMG Direct Limited, trading as TMG Mortgage Network, which is authorised and regulated by the Financial Conduct Authority (FRN 786245). Homemove Mortgages Ltd is entered on the FCA Register as an Appointed Representative (FRN 1022429). You can check registrations at NewRegister or by calling 0800 111 6768.
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