Tag: Houndwood

Top 20 least expensive streets in Street and Glastonbury – Part 1 (20-17)

In a recent article (here) I looked at the top 20 most expensive streets in Street and Glastonbury but which streets are the least expensive? First-time buyers will be interested to know where they have the best chance to get their foot on the housing ladder and investors with just a small pot of money will want to know where they can buy a rental property to suit their budget. Using the same methodology as that used for the ‘most expensive’ article I.e. At least 10 properties sold in the thoroughfare in the last 10 years I now bring you the top 20 least expensive streets in Street and Glastonbury. How many of these can you guess?

20 – Woods Road (Street)

Average price paid – £145,778. There are 48 dwellings in Woods Road, 6 of which were built in 1950. The most expensive recorded transaction in Woods Road to date is 19, which sold for £185,000 on 22/07/2016. Woods Road almost certainly gets it’s name from the ancient woodland of Hound Wood which was once a prominent feature in that area. In 1656 Hound Wood covered 50 acres and had 1,200 oaks but was completely cleared in 1841.

19 – Blagrove Close (Street)

Average price paid – £142,778. The name Blagrove has a long association with Street and the wooded landscape that was once part of Street. Blagrove Close comprises 45 homes. 8 of these properties were built in 1980. The property sales that have the highest recorded prices in Blagrove Close to date are 23, which sold on 10/08/2016 and 14, which sold on 27/01/2017 both for £167,500.

18 – Glaston Road (Street)

Average price paid – £141,416. Glaston Road consists of 40 dwellings as well as the Baptist Church of which 17 are flats. The property sale that has the highest recorded price in Glaston Road to date is 4, which sold on 30/07/2007 for £300,000. The Street (Mead) Gate toll house replaced the toll house at Northover bridge in 1783.

17 – Strode Road (Street)

Average price paid – £139,904. Strode Road is home to 183 dwellings and Tor View Court retirement living. The most expensive recorded transaction in Strode Road to date is 56, which sold on 20/01/2017 for £265,000. The least expensive transaction that has been recorded in Strode Road is 143. It sold on 29/01/2001 for £17,920.

The series continues with number 16 in the next article.

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

Spotlight on Houndwood

The last property on the Houndwood development in Street has recently sold – 9 years after the first. Bosun Walk which is part of the development recently featured in our top 20 most expensive streets in Street and Glastonbury but what level of capital growth has there been and what rents can be achieved for Houndwood properties?

Sandwiched between Westway (A39) in the North and West End in the South, Houndwood is a development of 394 dwellings spread over 23 thoroughfares and 10.65 hectares. Built between 2007 and 2017 by two different developers (Crest Nicholson and Barratt Homes), Houndwood is a mix of properties ranging from 1-bedroom apartments to 4-bedroom houses. 21 of the homes are shared ownership. Houndwood was described by the architects as a strong rectilinear layout of terraces that underpins a desire for maximising land use, sustainability and economy.

The first property sale recorded on Houndwood was 25 Lime Tree Square which sold on 12th December 2008 for £157,950. Interestingly many of the earliest constructed properties on Houndwood are not yet registered with the Land Registry.

The most expensive transaction that has been recorded on Houndwood was for 20 Oberon Grove which sold on 24/06/2016 for £289,995.

Capital Growth

Looking across all 70 transactions for properties that have been re-sold post new-build shows that the average Compound Annual Growth Rate (CAGR) is a modest 1.93% for properties on Houndwood.

Rents

Looking at the asking rents for property on Houndwood over the last 18 months:

  • 1-bed apartments – £495 to £700 – average of £585 pcm
  • 2-bed apartments – £625 to £650 – average of £645 pcm
  • 2-bed houses – £715 to £725 – average of £720 pcm
  • 3-bed houses – £775 to £885 – average of £836 pcm
  • 4-bed houses – £895 to £1200 – average of £1070 pcm

Not a lot of people know that…

Houndwood is named after another part of Street. The name ‘Hound Wood’ first appeared on Ordnance Survey maps in 1888 for the area immediately North of Cemetery Lane. Hound Wood was accessed via Hound Wood Drove which originated at the junction of Southleaze Orchard and Cranhill Road.

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

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