Help to Buy Valuation in SL9

The Help to Buy equity loan scheme was set up to help purchasers onto the property ladder, with a government loan of up to 20% of the property value, or 40% in London. Once you sell the property, or reach the end of the loan term, the amount due is based on the current market value rather than the figure at purchase. That is why a RICS Help to Buy valuation matters. It has to be prepared by an independent RICS-qualified surveyor with no connection to any estate agent involved in the transaction.

Property in SL9, covering Gerrards Cross and Chalfont St Peter, sits well above the national average. The average price is more than £892,000, so a 20% equity loan on a typical home can be more than £178,000. The valuation is not a box-ticking exercise, it has real financial weight. We use at least three comparable properties from within a two-mile radius where possible, so the figure reflects the market on the ground. In Chalfont St Peter, for instance, our valuers regularly draw strong comparable evidence from recent sales in the SL9 9 and SL9 0 postcode sectors.

There is a clear split within SL9. In the last year, the SL9 9 sector in Chalfont St Peter recorded a 1.1% price increase, while SL9 0 saw a 4.6% decline. That kind of variation is exactly why local knowledge counts. We take account of these micro-market differences and adjust the valuation to suit the precise position of the property within the postcode district. Homes close to Chalfont St Peter village centre can attract a different premium from those further out towards the A413.

Help to Buy redemptions have to follow the RICS Red Book, and the rules are strict. We inspect the inside of the property, look at condition, size and layout, and take into account any improvements or extensions completed since purchase. Tenure also matters, whether the home is freehold or leasehold, because leasehold homes in this area can carry issues that affect market value. Many modern flats in Gerrards Cross, including Marsham House, are leasehold, and differences in the remaining term can have a marked effect on the valuation.

• RICS-qualified independent surveyor
• Homes England compliant report
• Minimum three local comparables
• Valid for three months

SL9 covers some of Buckinghamshire's most sought-after towns and villages, and that feeds directly into value. Gerrards Cross draws strong demand thanks to its transport links, with regular trains to London Marylebone making it a firm favourite with commuters. The centre of the town has also changed in recent years, with schemes such as Marsham House adding modern apartment stock. Chalfont St Peter has a more village feel but still offers solid day-to-day amenities. We weigh all of this during the valuation, including the premium often seen for homes within walking distance of Gerrards Cross railway station and for properties on the popular streets around Chalfont St Peter's village centre.

Historic character is part of the SL9 market too. Gerrards Cross and Chalfont St Peter contain a number of listed buildings, among them the Grade II* listed Church of St James. Homes in or close to conservation areas can be subject to restrictions on alterations, and that can influence market value. We know the local planning context and reflect those points in a Help to Buy valuation where relevant. The Gerrards Cross Memorial Building, Berkeley Cottage, and Hartley Court are among the notable listed buildings that shape the area's character, and if a property is itself listed or sits in a conservation area, marketability and value may be affected.

New build stock in SL9 gives us useful evidence for some valuations, but not all. Marsham House in Gerrards Cross is a modern apartment development in the town centre, while The Chapters offers luxury one and two-bedroom apartments. Those schemes can provide strong comparables for similar homes, whereas older period houses need a different line of assessment. At the top end, properties at The Pillars on Slade Oak Lane include larger, newer detached houses of about 14,000 sq ft on a 2.5-acre plot. We are used to valuing both modern flats and substantial period homes in this market.

Ground conditions can play a part in value in some parts of Buckinghamshire. Areas of clay soil within SL9 may be prone to shrink-swell movement, although the postcode is not generally treated as a high-risk location for subsidence. During the inspection, we note any visible cracking or movement. Parts of Chalfont St Peter also benefit from generally good drainage associated with the River Misbourne. Where there are environmental factors that could affect value, we record the relevant observations in the report.

• Conservation area restrictions
• Listed building considerations
• New build premium
• Commuter location value