Friday, August 19, 2011

Standard conveyancing searches – known as ‘Con29’

Buyer beware: thousands of house prices blighted

About 4,700 house prices will fall by a total of £97m if the proposed new high-speed railway between London and the West Midlands (HS2) goes ahead, experts claim, but many prospective buyers of these properties may be ignorant of the risks.Standard conveyancing searches – known as ‘Con29’ – only require local authorities to declare when a property is within 200 meters of the railway, although noise from trains could blight properties much further away than that.

Posted by jack c @ 01:22 PM (1326 views)
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9 thoughts on “Standard conveyancing searches – known as ‘Con29’

  • mark wadsworth says:

    Bearing in mind that these NIMBYs overestimate wildly, that probably boils down to two or three thousand houses affected, which expressed as a percentage of the number of people who will use and benefit from the railway is 0.0[lots of zeroes]1 %. £20,000 fall in value per house is probably a wild exaggeration as well, but so what? All it does is wipe off six months of illusory capital gains.

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  • mw

    the so called nimbys in my area did not over estimate the impact of a distribution centre in fact they underestimated the noise, the noise travels some 4 miles in all directions and has blighted some 5000 homes in the area, yet the labour council clearly corrupt allowed the build to go ahead with what looks like a garden fence around the site to supposedly stop the noise which it does not. MW i am intrigued by what you would do in your neighbourhood when something is proposed which would be noisy

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  • mark wadsworth says:

    I live next door to a building site, the house before that was also next to a building site, the one before that backed onto a railway, the one before that overlooked a busy high road… you get used to all this.

    It’s usually cheaper moving to the noise (where you get a discount up front and it can’t get any worse) than overpaying for faux bucolic rural idyll and letting the noise come to you. And seeing as I use the train, drive a car, use motorways, even fly occasionally and buy stuff in shops which might have gone through your local distribution centre, I’d be a bit of a hypocrite if I complained about the noise, wouldn’t I?

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  • MW – will the same apply when you eventually buy back in? ie living next to a building site etc….

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  • mark wadsworth says:

    Jack C, I’m not daft.

    If I buy next to a building site or a likely building site, I get a discount when I buy. And if people build more stuff where I wasn’t expecting it nonetheless and it inconveniences me, temporarily or otherwise, so what? I live in a house, who am I to deny others the right to live in a house, which of necessity has to be built first? And if I buy near The Hallowed Green Belt, do I own all the land which provides me with a nice view? Am I compensating the farmer for keeping his land out of more productive use or all the poor priced out people? Nope. So live and let live is my motto.

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  • MW – The UK has some of the most productive agricultural land in the world, we should be using this sustainable asset to feed it by reverting to agriculture, depopulating the country, moving manufacturing to more arrid and agriculturally marginal countries and using the currently unemployable as agricultural workers housed in kibbutz style settlements.

    Once the financial services sector has decamped from London and other urban centres can be cleansed, high speed rail and other frippery will not be required and those that remain can live happily ever after in the absence of bankers and urban politics.

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  • ontheotherhand says:

    If there was LVT these blighted owners would get a discount for perpetuity to reflect the partial loss of the community owned utility (rural idyll) that they benefitted from. That would be a compensation.

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  • I live 260m from a fairly busy railway, and I barely hear the trains. When I do notice them it’s only because they toot their horns; and I’m quite a noise-sensitive person.

    4700 rural houses “blighted”; but how many more properties at either end of the high speed line will receive a boost to their property values thanks to the new faster line?

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  • The real issue is that HS2 is a grotesque waste of money – creating a new north south line on a route that is already relatively well served..

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