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Shared Ownership Valuation
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Dogsarethebest2025
Posts: 13 Forumite

Hi all,
we are wanting to sell our shared ownership home, we have our first RICS survey/valuation in Feb 2025 and ur house lost in value and we were In negative equity therefore, we decided to wait. We just recently had our home valued again an it is worth £350k and we purchased it for £352k in 2020.
Usually I wouldn't question things like this, however. The surveyor compared our home to homes sold in the area (non shared ownership homes) almost 12 months ago. Since we need a new valuation every 6 months, why are they allowed to compare homes sold 12 months ago?
in addition, our neighbour has the exact same home as us, also purchased via shared ownership scheme, no extensions etc. the size of rooms/overall home is the same and yet their home is valued at £390k.
I tried queuing this with the surveyor himself and he stands by his valuation.
Is it worth getting someone else to do the valuation, would it be any different? Has anyone else had a similar issue?
we are wanting to sell our shared ownership home, we have our first RICS survey/valuation in Feb 2025 and ur house lost in value and we were In negative equity therefore, we decided to wait. We just recently had our home valued again an it is worth £350k and we purchased it for £352k in 2020.
Usually I wouldn't question things like this, however. The surveyor compared our home to homes sold in the area (non shared ownership homes) almost 12 months ago. Since we need a new valuation every 6 months, why are they allowed to compare homes sold 12 months ago?
in addition, our neighbour has the exact same home as us, also purchased via shared ownership scheme, no extensions etc. the size of rooms/overall home is the same and yet their home is valued at £390k.
I tried queuing this with the surveyor himself and he stands by his valuation.
Is it worth getting someone else to do the valuation, would it be any different? Has anyone else had a similar issue?
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Comments
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The problem is that as well as new houses carrying a premium SO to me are often priced slightly higher on purchase to similar houses on the truly open market.
Unless there is an unprecedented demand for house in your area why would the house have increased in value when there's been a general drop in the market?
Unless you have to move because of work or family then I would forget about selling for the moment and ride out the downturn.0 -
Thanks but I’m not entirely sure you’ve answered my question.I was asking if I should get a second opinion due to such a big difference in value of my house and the same type of house near me.I wouldn’t normally question the value and if I’m honest £350k isn’t bad to me but why is my house valued at 350k when my neighbours is valued at 390k. The same size. The same design etc plus both are shared ownership.0
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gwynlas said:The problem is that as well as new houses carrying a premium SO to me are often priced slightly higher on purchase to similar houses on the truly open market.
Unless there is an unprecedented demand for house in your area why would the house have increased in value when there's been a general drop in the market?
Unless you have to move because of work or family then I would forget about selling for the moment and ride out the downturn.I was asking if I should get a second opinion due to such a big difference in value of my house and the same type of house near me.I wouldn’t normally question the value and if I’m honest £350k isn’t bad to me but why is my house valued at 350k when my neighbours is valued at 390k. The same size. The same design etc plus both are shared ownership.0 -
Dogsarethebest2025 said:Thanks but I’m not entirely sure you’ve answered my question.I was asking if I should get a second opinion due to such a big difference in value of my house and the same type of house near me.I wouldn’t normally question the value and if I’m honest £350k isn’t bad to me but why is my house valued at 350k when my neighbours is valued at 390k. The same size. The same design etc plus both are shared ownership.0
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Shared ownership makes no difference to a property is valued.
How do you know the value of your neighbours' house? Unfortunately valuation is not an exact science as various factors are taken into consideration by the valuer. Ideally, they would be using the most recent comparable transactions in the area making adjustments as appropriate to include, size, location, description etc.
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Tracet74 said:Shared ownership makes no difference to a property is valued.
How do you know the value of your neighbours' house? Unfortunately valuation is not an exact science as various factors are taken into consideration by the valuer. Ideally, they would be using the most recent comparable transactions in the area making adjustments as appropriate to include, size, location, description etc.
I thought the exact same thing, because I know surveyors must compare our home to nearby recently sold properties roughly same size/condition etc. The surveyor compared our home to homes on the development sold 11-12 months ago... I asked why that is, why not more recent ones, and he said that there was a lack of suitable comparables. so surely if there was a lack of suitable comparables then this should also be the case for my neighbour.
The difference in value is all a little extreme and we want to make sure we are not missing out.0
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