The government announced yesterday that the HS2 rail-link between Birmingham and London is to go ahead at a cost of £33billion. 65% of the responses to a consultation mentioned property, and at Manse & Garret Property Search we too are interested to see what the affect will be on property prices in London, Birmingham and along the route.

The link is expected to cut journey times between London and Birmingham by 30 minutes. Commuters who traverse this route will benefit from shorter journey times but it is the disruption during construction and the on-going noise created by trains travelling at speeds of up to 225mph in 2026 that is causing concern for property owners.  A Department of Transport Report from 2009 predicted that 21,300 households would experience an increase in rail noise, which in our experience is not what people look for when buying a house.

If your house is under the route then you can expect to receive a compulsory purchase order from the government, however not until 2015. The government has promised that property will be purchased based on the open-market value, “as if unaffected” by the scheme. Owners will also receive a home loss payment of 10% of the property’s value and reasonable costs will be paid. The problem with this is that many of the affected areas have already experienced a decline in house prices because the scheme has been years in the making and it is not clear if these home owners will be bought out at pre-HS2 prices.

Perhaps those in a worse position are those whose homes will not be considered for compulsory purchase, but who will be affected by the noise.  The government says that 3,100 properties will experience a “noticeable” increase in noise. Homeowners will be able to claim for any loss of value on their property resulting from noise, vibration or artificial lighting, but only once the railway has been open for a year. There is no amount of secondary glazing or sound proofing that can help you to enjoy your garden in peace and quiet and it is these homeowners who may have trouble selling their properties even at lower prices. The good and influential people of Primrose Hill were successful in making enough of a fuss so that the proposed route under Primrose Hill was changed so that they would not be negatively affected by vibration from the trains. Unfortunately the good people of Belsize Park have not been so lucky, Adelaide Road, Fellows Road and Eton Avenue are now likely to be affected instead.

What will happen to property prices in Birmingham and London? The value of property in Birmingham is likely to increase, as demand for property in Birmingham increases, becoming more attractive to those who may not have considered commuting this distance before now. As for London, will an extra rail-link into Euston boost property prices in this area? It’s unlikely that there will be that much of an increase; Birmingham is not as enticing a location as Paris and so proximity to this rail-link is unlikely to be at the top of many property buyers’ wish lists.

Technorati Tags: Birmingham, high speed 2, House Prices, House prices in London, HS2, London Buyer's Agents, Primrose Hill

Tags: Birmingham, high speed 2, House Prices, House prices in London, HS2, London Buyer's Agents, Primrose Hill

At Manse & Garret Property Search we are almost on first name terms with a number of council planning offices across London and Kent. With three clients currently on our books looking to build their dream properties, a lot of time is inevitably spent on the telephone and in meetings with duty planners and building control.

I must admit that I do have my favourite planning departments: Kensington & Chelsea and Westminster provide the least painful experiences! Equally, I also have a few that I dread dealing with (although I won’t name any for fear of reprisals!)

From the midst of the planning process, preserving the character and appearance of our streets can seem like a bit of a hassle, yet you need only look at a beautiful streetscape in Hampstead Village to know that it is worth it. This is why I am still in a state of disbelief over the report of a developer in Twickenham who bulldozed a semi-detached Regency house, without permission in January of this year.

I may perhaps be slightly biased, as in terms of architecture I happen to be very fond of the housing stock which has survived from the 1820s, but even without my personal aesthetic preferences, I cannot believe that anyone could demolish a house that was attached to another without permission, in order to cut their own developer costs.

The developer was fined £80,000 by Richmond Council, and also had to pay Richmond councils £42,500 legal bill to cover the cost of taking legal action. I imagine that this will serve as a warning to other developers who may be tempted to subvert, or indeed, simply ignore planning regulations in future.

Technorati Tags: Buyers agents, London Buyer's Agents, London Property Buyers Agents, Planning, Planning Permission

Tags: Buyers agents, London Buyer's Agents, London Property Buyers Agents, Planning, Planning Permission

Finding a property with outside space in central London can sometimes seem quite a feat (especially if property finding isn’t your raison d’etre, as it is for us London buyer’s agents here at Manse & Garret Property Search!)

With summer approaching the number of buyers eager for outside space increases; competition is fierce and flats with good roof terraces are very quick to go under offer, often sold to keen buyers enticed by the idea of entertaining friends and family on a warm summer evening surrounded by the bright lights of London.

Speaking as a London Buyer’s Agent, I am particularly referring to roof terraces, rather than the humble patio garden, as they are quite the in thing in property and quite understandably so. Patio gardens, often on the lower ground floor, overlooked by neighbours and more often than not lacking in natural light find it hard to live up to The Roof Terrace which is much more likely to provide breath-taking views of London, great entertaining space, and an excellent opportunity to sunbathe, if that’s your thing.

Flats with patio gardens are usually on the lower ground and ground floors; less popular with buyers, especially the security conscious, and so tend to be 10-20% cheaper than a flat on the same road, but higher up. A flat on an upper floor with a good roof terrace, however, is likely to be worth about 10-20% more than a flat on the same road without outside space and will sell much more quickly, and if you are a property investor, it is worth noting that a property with a roof terrace is much more likely to be rented out more quickly and produce a better yield.

If you’d like to find a property with a roof terrace to rival Vista at the Trafalgar and Kensington Roof Gardens then give the best London Buyer’s Agents, Manse & Garret Property Search a call today.

Technorati Tags: London Buyer's Agents, London Flats, London property, London property finders, London search agents, outside space, summer

Tags: London Buyer's Agents, London Flats, London property, London property finders, London search agents, outside space, summer