Hamptons International responds to HS2 announcement
Gary Hammond from Hamptons International says:
"The approval of plans for the HS2 line will have a further detrimental impact on property prices in the local area, particularly for areas such as Great Missenden and Wendover. Prior to today's announcement, we saw a sharp drop in transactional volumes in areas in close proximity to the now approved route, with buyers diverting their search to ensure they did not buy into an affected area. The physical impact of the introduction of the line will be considerable and despite Hs2 guaranteeing unblighted prices for properties on the sales market, purchasers will not buy at unblighted values.
"Properties with a view of the HS2 line have seen their property prices fall by up to 30 per cent. Although the value of properties in the surrounding area will also be affected, the drop will not be so steep. Homes that are between a quarter and half a mile away will reduce in value by up to 10 per cent."
"With the existing Exceptional Hardship Scheme providing inadequate support for blighted areas, the revised Hardship Scheme must be broadened to assist or compensate more people to move now rather than having to wait until the first train has run."