Property in Bourne

Bourne Housing Stock

Bourne is renowned for its redbrick housing, as is the case in many other parts of England - look closely and you'll also notice some limestome built properties. The town has a hugely varied selection of properties, from the very old to the brand new, from apartments to large family homes. There's a diverse mix of different property styles that represent the long history of Bourne, including Georgian, Victorian and Edwardian properties, alongside more modern housing styles.

Bourne is fortunate to have a good housing stock and property generally sells quickly in the town due to good demand and affordable house prices. Hill & Clark Estate Agents, who have an office in Bourne, report that the Bourne housing market is in decent shape for the medium to long term, making Bourne a great place to invest in property.

The great thing about Bourne is that there are very few areas that could be considered not desirable and certainly no areas considered unsafe. The best areas tend to be the more established areas with the larger period properties that are often situated on large plots with plenty of character and charm, mostly found on the outskirts of the town. North Road and Mill Drove (just off North Road) are thought to be considered the most prestigious roads in Bourne, being lined with trees and some imposing grand old properties. Properties on and around the Beech Avenue area of town also sell particularly well as these are generally spacious solid houses constructed by Parker Homes, who were once a reputable property developer in the area. Properties in or close to the town centre are also popular as they offer great access to the numerous amenities of Bourne town centre, while many are tucked away in quiet pockets so not plagued by the noise and pollution that often comes with living in a busy town centre.

The town centre is undergoing somewhat of a regeneration at present which is seeing many new apartments and town houses being built, owning somewhat to the trend for more people living alone and catering for those looking to downsize; Wherry's Lane is one of the major redevelopments in the town which has seen a number of luxury apartments built on a previously neglected part of the town (along with conversion of the former Wherry's Mill into apartments), with further apartments and town houses currently being constructed.

Most of the new developments in Bourne are located on the southern outskirts of the town, with the popular Elsea Park making up the majority of the new build quota. Property in this area of the town is sought after due to the good transport links to Peterborough, Stamford, Grantham and the A1.

For those more suited to village life, Bourne is surrounded by many pretty villages, nested in the stunning Lincolnshire countryside. Five miles south of Bourne is Baston village, highly desirable due to its great facilities (there are two pubs, a primary and private school, village shop, post office, hairdressers, children's playground and a garden centre/shopping outlet), community feel (there are always lots of events going on in the village) and good transport links to Bourne, Market Deeping and Stamford. The small picturesque villages to the west of the town located in the popular Kesteven Uplands are also very sought after, with many properties constructed in local limestone and some with amazing views over the rolling landscape. The small villages of Northorpe and Thurlby (just a few miles south of Bourne) also have some very nice housing stock, consisting of mostly detached properties with large plots (built in the 1970's) and some quaint cottages - properties here are particularly popular as they offer easy access to woodland and are within walking distance of Bourne. For those happy to live a little further away from Bourne, the village of Greatford is a lovely quintessential English village that is around six miles from Bourne.

Bourne Property Prices

Property prices, compared to some parts of the UK, are relatively on the low side (especially when comparing prices to those in London and the home counties), however, when compared to the rest of Lincolnshire, they are amongst the highest in the county - with only Stamford being more expensive (and some of the surrounding villages). In fact, property prices in Bourne are considerably less than those found in the popular Georgian town of Stamford, just 10 miles south of Bourne, making the town a popular alternative to Stamford. Bourne is also a popular destination for those wishing to relocate from more expensive parts of England that are closer to London. Property tends to be most expensive that is in close proximity to the Bourne Grammar School as spaces at this well sought-after school are limited and those living close by tend to get preference. Property backing onto the Bourne Woods and near this ancient woodland also tends to be on the more expensive side, as does property that is close to a park or green space.

Property prices tend to remain quite high due to the high demand for property in the town, particularly detached family homes, as people tend to favour Bourne due to its excellent schools, low crime levels, green spaces and excellent transport links. It is possible to pick-up property slightly cheaper in the near-by villages of Morton (3 miles from Bourne) and Rippingale to the north of the town, where property can be up to £10,000 cheaper than a comparable property in Bourne. Most affordable housing tends to be found on areas of Elsea Park, the town's largest new housing development, as most of the old council housing stock has been brought privately. As with many other areas in the UK, affordable housing is in limited supply in Bourne and so the demand for such properties tends to be very high. The housing associations covering Bourne tend to be Accent Nene Housing Association, Circle Housing Wherry and Longhurst & Havelok Homes Ltd.

Average house prices in Bourne are over £100,000 less than the near-by town of Stamford, making it a much more affordable place to live for young professionals and families.

It is expected that house prices in and around the town will continue to rise steadily over the coming years as demand for property in Bourne continues to increase, although Brexit has caused a degree of uncertainty which has caused a slow-down in the market.

Property Demand in Bourne

Of all property types available in town, one-bedroom apartments tend to be in least demand and this is reflected in the prices for these properties which can be picked up for less than £100,000. Detached family homes in the more established areas of town tend to be in most demand, and as a result these sell quickly - over the last twelve months, the majority of sales were detached properties. Three-bed detached homes are generally in most demand with four-bed detached homes taking much longer to sell on average. A decent sized detached property will normally sell for in excess of £250,000 . The traditional terrace housing also tends to sell quite quickly as Bourne has a limited supply of this property type - if presented in good order, these properties can sell within weeks as they are popular with first-time buyers and investors. Property on the new Elsea Park development also tends to be quite popular due to its position on the southern outskirts of the town meaning it has good transport links to Peterborough, Stamford, Grantham and the A1. Living here does tend to come at a premium though, as all residents who own their property must pay a contribution towards the Community Trust who manage the estate (currently around £300 per annum) - the Trust do, however, do a great job of looking after the estate, which always looks well maintained.

If you're looking to retire in Bourne, you'll be in good company as the town has a large retirement population and several developments that cater specifically for this group of people. The Croft (off North Road) is a well-designed new retirement village close to the town centre with a varied selection of properties arranged around attractively landscaped courtyards and gardens, with a large manor house as its focal point which serves as the community centre. A similar retirement village, appropriately named The Croft at Baston, is located in the desirable village of Baston, just a few miles south of Bourne. If you would prefer a fully managed apartment, then Browning Court (off Manning Road) is the perfect development. Located just outside the town centre, Browning Court has a 24/7 on site duty manager, communal lift service to all floors, a restaurant facility offering a 3-course lunch every day, a handy man and a laundry service.

Want to sell your property quickly?

Ultimately a property that is priced realistically should have a much greater chance of being sold quickly but kerb appeal and presentation of a property should never be over-looked as these can make the difference between a sale or no sale.

A property should look neat and tidy from the moment the buyer first sets eyes of it; cut the lawn, plant some flowers and clean the windows - this all helps to set a good first impression.

The inside of the property should be clean and tidy, with minimal clutter - most especially the bathroom and kitchen should be clean and in good condition as these are the main rooms people look at when considering buying a property. It's also well worth giving the main rooms in the house a new lick of paint, if needed - the smell of fresh paint and the sight of clean walls will demostrate that your home is well cared for. Remember to keep any paint colours to a neutral tone as stronger colours may not be to everyone's taste. Make the best of any natural light by ensuring any blinds and curtains are fully open, and that there is no furniture blocking light from a window.

Did you know? The average property transaction takes around three months to complete and around one in four transactions fall through. Moving home is also considered one of the most stressful life events that we endure.

Bourne Rental Market

The rental market in Bourne is also buoyant with properties to let that are in good order being snapped up very quickly. As a result of the high demand for rental properties in the area, prices being charged for rent are rising steadily. As a general rule, the price of renting a decent two bed house in Bourne will set you back around £650 to £750 a month (flats being slightly cheaper at around £600 to £700 a month), with a three bed property costing around £750 to £850 a month. As with property to buy, rental properties tend to be slightly cheaper in the villages to the north of Bourne.

Property Schemes Explained

Shared Ownership

This is a system by which the occupier of a property buys a proportion of the property (typically 50%) and pays rent on the remainder, typically to a local authority or housing association. The proportion of the property owned can be increased over time if this is a viable option for the dweller.

This can be a great way to aid getting on the property market for those who are struggling to save for a deposit as it means that a deposit will only need to be put down for the proportion of the property being brought.

There are a good proportion of shared ownership properties in Bourne as developers now include a percentage of these properties for most new developments over a certain size. Please see www.rightmove.co.uk/property-for-sale/Bourne/shared-ownership.html for a full list of shared ownership properties currently available in the Bourne area.

Help to Buy

Help to Buy is the name of a government scheme that aims to help first time buyers, and those looking to move home, purchase a property. It works by reducing the required deposit for a property down to just 5% because the government offers an equity loan of 20% of the property value at an interest-free rate for the first five years. This means that a mortgage only needs to be taken out for 75% of the properties value, which should allow access to better mortgage rates and a wider range of deals. This loan only needs to be repaid when the property is sold, which ensures the government will get 20% of the current property value.

There is also a Help To Buy savings scheme (Help to Buy ISA) available whereby for every £200 saved by buyers for a deposit, the government will put in £50 � equivalent to a 25 per cent subsidy for first-time buyers. This scheme makes it much quicker to save for a deposit and encourages saving by offering a generous incentive.

Affordable Housing

Affordable housing aims to provide cheaper homes for people who can't afford to buy or rent at market rates; this includes shared ownership, social rented properties and other affordable schemes.

Most affordable housing are new-build properties that are provided as part of larger new developments. Planning policies set by the government (Section 106) state that at least 10% of the homes on developments of 10 or more units should be classified as 'affordable'.

It's often hard to distinguish affordable housing from that available in the private sector as developers often use the same style for both. In this way both private and affordable homes are blended together to create a sense of community and cohesion.

Affordable homes will often be sold to housing associations who will manage these and decide on suitable tenants. In Bourne and England as a whole there is currently a real shortage of affordable homes, meaning the wait for one of these properties is often long.

Did you know? Property prices are often determined by supply and demand - the more people wishing to move to an area, the higher the prices will be. Prices are also determined by the earning potential of an area and the number of job opportunities available - areas with access to higher paid jobs will often demand higher property prices.

New Homes Vs Old Homes

New Properties

New homes often get bad press but the reality is, if built properly, new homes are actually more energy efficient, have better sound insulation (between adjoining properties) and are easier to maintain. They also act as a blank canvas, meaning it is easier for the buyer to put their own stamp on the place without the hassle of replastering, sanding, etc. Furthermore, new homes offer a warranty period, meaning that should anything not be right with the property, this should be put right without any cost incurred by the buyer. Developers also build homes to suit modern lifestyles, with open plan kitchen/dining areas to allow better use of space and en-suite bathrooms to master bedrooms.

The quality of new homes does vary depending on how well that particular site has been managed and the specification and standards of the developer. Essentially, a site manager will often determine the quality of the new build. As a general rule, smaller developments built by smaller, more local developers are often built to higher standards as the attention to detail and quality control tends to be higher.

Brand new homes often don't come with a TV aerial, curtain poles or wheelie bins, so it's important to factor in additional costs for these items.

Older Properties

Older properties offer many advantages over new properties; they are often more solid as the internal walls are solid brick as opposed to the stud walls used for many new properties - this offers greater sound insulation between ajoining rooms. Older properties also tend to be situated on larger plots, with front gardens, large driveways and a good-sized rear garden - properties in older estates tend to be more appealing for this reason as there a greater sense of space between neighbouring properties. Older properties can also offer more space inside as proportions tend to be more generous - high ceilings and large windows also add to sense of space and light. Furthermore, it is often easier to add value to older properties by bringing them more up-to-date to suit modern lifestyles and decor. Some older properties, particularly from the Georgian, Victorian or Edwardian eras, also offer a lot more charm and character when compared to new builds.