Property price indices can hide many factors. They show a general trend for an area or type of property. What they don’t always explain are the underlying local factors that can influence the value of properties in specific streets, certain areas or properties with more unique features. Family properties will always be more influenced by school league tables than other types of property. The arrival of certain supermarkets (Waitrose, Aldi or Lidl) can affect prices of local houses generally.
Property price indices can hide many factors. They show a general trend for an area or type of property. What they don’t always explain are the underlying local factors that can influence the value of properties in specific streets, certain areas or properties with more unique features. Family properties will always be more influenced by school league tables than other types of property. The arrival of certain supermarkets (Waitrose, Aldi or Lidl) can affect prices of local houses generally.
Ashtead, like so many towns, has a real mix of properties. Everything from large detached executive housing to flats and ex-council properties. The value of these properties can be affected in different ways. At Michael Everett & Co, we have seen a number of factors change in recent years that we believe have influenced property values.
Greville School
Long seen to be a less than desirable school, the 2008 Ofsted inspection only served to compound that feeling when it was rated only as ‘satisfactory’. By 2010, the school leadership team had turned things around and in an inspection in September 2010, it was rated as good. An interim inspection in 2014 and a further full inspection in March 2016 have confirmed that level has been sustained and Greville School is now certainly an attractive feature for parents considering their children’s schooling in the Ashtead area.
There are many properties in the area that have not been on the market for some considerable time and owners might be surprised by the current valuations. Average house price inflation for semi-detached properties in Mole Valley District Council area have increased by around 70% between January 2009 and March 2017. (http://landregistry.data.gov.uk/app/ukhpi/explore). Detached properties have seen slightly lower growth of around 67.5%
In our experience, the reported figures for Mole Valley under-report those we are seeing in reality for properties in the vicinity of Greville School.
Ashtead’s Hidden Assets
A recent article in The Independent newspaper suggested a number of surprising factors that will boost the value of your home – mostly factors over which homeowners have no control. Ashtead residents are rather more fortunate in general though, benefiting from a number of them. The hidden assets of Ashtead include:
- Be near a big supermarket: Marks and Spencer are on their way and other major and discount stores are close by.
- Have smart neighbours (upmarket local businesses): Ashtead has many such businesses including the Secret Supper Club, Jazz club and a range of independent retailers. Coming soon is our new independent butcher, a new shop we are delighted to have played our own part in bringing to The Street in Ashtead. (Link to article)
- Live near a sporting venue: the world-renowned Epsom races, home of The Derby, is close to hand for racing fans.
Local knowledge plays a huge role in understanding how each of these factors affect the value of each and every property. Why not ask one of our local experts to undertake a free evaluation of your property.