Last time buyers are unwittingly blocking millions of family homes
A healthy property market allows people to move up and down the property ladder. This requires second steppers to free up homes for first time buyers and downsizers to free up larger properties for those who want a family home to live in until they retire.
However, according to the latest HomeOwners Alliance Annual Homeowner Survey*, last time buyers are unwittingly blocking millions of family homes and first time buyers due to a lack of suitable housing. In fact almost a quarter (23%) of homeowners aged 55 or over who have considered moving in the last two years haven’t done so for this very reason.
Here in Guildford, there is definitely a bottleneck at this upper end of the market. Thanks to its position on the edge of the Surrey Hills, there is an abundance of larger homes in more rural areas suitable for those young professionals who have chosen to settle in or around the town and bring up their family. However, the availability of these homes is rare due to the lack of properties coming to the market that are suitable for downsizers.
Research by Saga* has found that seven out of ten over 50s would rather ‘rightsize’ when they retire to a home with large scale rooms for entertaining but just in a smaller, often lateral, envelope. Rightsizers also want to be within walking distance of the town centre but retain some outside space – albeit easier to maintain.
We are marketing four luxury conversion apartments, in West Road, Guildford, which are due for completion this summer and are ideal for those wishing to downsize and enjoy the convenience of town centre living. Each of the 1,000 sq ft apartments, which are priced at £650,000, have restored period features, a private garden and parking space and are nestled in a quiet spot just a few minutes’ walk from the High Street.
At the opposite end of town, also in a quiet spot within walking distance of the High Street, is 80 Rookwood Court - a spacious three-bedroom apartment with far-reaching views across Guildford.
This 1,028 sq ft apartment, which is on the market at a guide price of £495,000, features a recently-refitted kitchen, a garage and balcony which maximises the views across town.
For more information about any of these properties call us on 01483 405222.
Barnett Lane, Wonersh, Guildford, Surrey
Guide price £650,000
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