Help to Buy Valuation in PH12 | RICS Certified

Under the Help to Buy (Scotland) Affordable New Build scheme, first-time buyers could purchase new build properties with an equity loan of up to 15% from the Scottish Government. Anyone who bought through the scheme and now wants to redeem the equity loan or sell the home will need a current valuation from a RICS regulated surveyor. That valuation sets the current market value of the property, and that figure is used to work out what must be repaid towards the equity loan. For applications from April 2021, the maximum property value under the scheme was £200,000.

In PH12, property values have often sat within the range where Help to Buy was available. Across the wider Perth area, many homes bought through the scheme were new builds by Barratt Homes, Persimmon Homes, Stewart Milne Homes, and Springfield Properties. Even where a property was not new build at the point of purchase, the valuation rules stay the same. Our surveyors know the sort of homes commonly bought through Help to Buy in this part of Perthshire, and how best to value them.

Valuing a Help to Buy property in PH12 takes care, because the local market is fairly thin. There have been only 12 property sales in the last 12 months, so there is less direct evidence than in larger urban markets. In practice, our surveyors may need to look at comparable sales from the wider Perthshire area while still giving proper weight to what is happening locally in PH12. Low transaction volume can affect valuation confidence, and our reports reflect that honestly.

What matters for equity loan repayment is the current market value, not the price originally paid. In PH12, where values have eased since the 2021 peak, that can mean the sum due back is lower than expected. We still provide a realistic present-day valuation, so the figure used for redeeming the loan is clear from the outset.

The PH12 postcode covers a broad mix of homes, from traditional sandstone cottages in small villages to more modern family houses. In this rural part of Perthshire, a good number of older properties are built in traditional stone, especially sandstone, reflecting the local geology and long-established building methods. Those older homes commonly have solid walls rather than cavity walls, which can make insulation and damp resistance more challenging. Across the area, detached and semi-detached housing is particularly common, which suits the rural setting.

Age and construction type bring their own recurring defects in PH12. Older homes may show damp, both rising and penetrating damp, timber problems such as rot or woodworm, outdated electrical wiring, and roof coverings that are simply worn out. Properties dating from between the 1940s and 1980s can still have original windows with poor thermal efficiency, and some may contain asbestos-containing materials in insulation or floor tiles. Our surveyors know these issues well and take account of how they affect market value locally.

Some parts of PH12 sit on glacial till and clay deposits, and that can create a moderate shrink-swell risk during spells of extreme weather. It is especially relevant where there are trees close to the building or where the property stands on ground with high clay content. Our surveyors factor in these local conditions when carrying out the valuation. Homes near watercourses may also face flood risk, and where that is relevant it is reflected in the valuation.

Newer homes in PH12 are often in generally good order, but they can still show minor snagging or settlement cracks. A number were built by major developers, so the usual new-build defects can appear here as elsewhere. Our surveyors are familiar with the kinds of issues commonly seen in homes by developers such as Barratt Homes and Persimmon Homes, and they are considered properly in the valuation report.

Construction across PH12 changes a good deal from one age of property to another. Traditional homes are usually built with solid stone walls, often using the local sandstone that is so typical of Perthshire. Because these walls were formed without cavity spaces, they can be more vulnerable to damp penetration and usually perform less well thermally than modern cavity wall construction. Our surveyors are experienced in assessing this kind of traditional build accurately.

From the mid-20th century onwards, cavity wall construction became more common, usually in brick or concrete block. Many post-war homes in the area also used concrete components, and those can carry particular maintenance considerations. In more recent developments, timber frame construction has been widely utilised, offering strong thermal performance but calling for specific attention when condition and value are being assessed.

Roofing in PH12 shows the same kind of variation. Older properties will often have slate or stone tile roofs, while later homes may use concrete tiles or synthetic slate. Roofing defects are among the issues most often picked up in property valuations across Perthshire, so our surveyors inspect the roof structure with care.

Environmental conditions in PH12 can have a direct bearing on value. Across Perthshire, the superficial deposits include glacial till, sands, and gravels, while the bedrock includes Old Red Sandstone and metamorphic rocks. Where those superficial deposits contain significant clay, there may be a moderate shrink-swell risk, particularly in extreme weather or drought. That sort of ground movement can affect foundations, especially where nearby trees are drawing moisture from the soil.

Flood risk in PH12 is mainly linked to surface water flooding and fluvial flooding from the River Tay and its tributaries. The postcode area is inland, so there is no coastal flood risk to consider, but homes close to watercourses still need careful assessment. Surface water flooding can affect low-lying spots after heavy rain, especially where drainage systems are overwhelmed. Any relevant flood risk noted during inspection will be recorded in our valuation report.

PH12 is rural, and that can bring influences on value that are easy to miss. Agricultural activity may mean occasional noise, smell, or traffic linked to farming operations. Some properties may also lie near former quarries or mineral extraction sites, with possible implications for ground stability. Our surveyors take these local environmental factors into account when arriving at values in the PH12 area.