Help to Buy Valuation East Allington

First-time buyers were able to use Help to Buy equity loans to get onto the property ladder, with the government lending up to 20%, or 40% in London, towards a new-build purchase. Once you come to sell, redeem the loan, or staircase by buying back the equity share, the scheme calls for an independent valuation from a RICS registered valuer, so the figure used matches the current market value of the property.

For this type of instruction, the valuation has to follow RICS Valuation - Global Standards, better known as the Red Book. That gives the Help to Buy agency an impartial, professionally prepared valuation. Our surveyors value homes across Devon on a regular basis and know the local market factors that shape prices in places such as East Allington.

We begin with a physical inspection of the property. During the visit, our valuer looks at the condition, size and features of the home, then weighs that against recent sales of similar properties nearby to arrive at the market value. For Help to Buy cases, we also complete the specific paperwork the Help to Buy agency asks for, including the valuation report form and any supplementary schedules.

• Physical property inspection
• Market value assessment
• RICS Red Book compliant report
• Help to Buy agency documentation
• Same-day or next-day inspection available
• Electronic report delivery

East Allington has not stood still over the past year. According to home.co.uk listings data, sold prices in the village are around 40% lower than the year before and 31% below the 2022 peak of £518,071. The current overall average sits near £355,571, although property type makes a real difference, with detached homes averaging about £432,500 and semi-detached properties closer to £308,500.

Within The Fallapit Estate, available market data points to prices being down by an average of 3.7% since April 2024. The development includes a varied mix, from stone-built units of more than 2,246 square feet arranged over three floors to apartments in the historic house. That spread of property types in one scheme is exactly why a valuation needs to reflect the details of the individual home.

The wider TQ9 postcode area, which covers East Allington, has recorded a fall of about 2.3% in property prices over the last year. We use that local picture alongside broader South Hams market trends when assessing a home. From a new-build bought through Help to Buy to a converted apartment in a historic building, we bring the local understanding needed for a valuation that matches present market conditions.

Recent sales in East Allington have been led by semi-detached homes over the last twelve months, according to homedata.co.uk and home.co.uk. That is relevant to a Help to Buy valuation because comparable evidence tends to come from the property types trading most often in the area. We choose comparables from recent transactions carefully, so the final figure is grounded in real market activity.

Anyone who bought through the Help to Buy scheme in East Allington will in time need to redeem the equity loan in full or staircase to increase their ownership share. Both options need an independent RICS valuation, and current market conditions make accuracy especially important. With prices having dropped sharply over the past year, the right valuation helps avoid overpaying or underpaying for the equity share.

Not every home in the village is valued in the same way. The Fallapit Estate, along with other developments in East Allington, includes a mix of property types, and a detached house will be assessed differently from an apartment in a converted historic building. Our valuers understand those differences and apply the method that fits the property in front of them.

Plenty of buyers across the South Hams are surprised by how much the valuation process looks at condition as well as market evidence. That can be especially important for older homes or properties in conservation areas, where historic features may push value up or down. During our inspection, we record defects and other issues that may affect the figure, giving a fuller view of the property's worth.