Factors that de-value your home

Negative Impacts on your home's value

At propertypriceadvice.co.uk we like to bring you ways of adding value to your property but we have recently had feedback saying you would like more information on what devalues properties, so as requested we have compiled a list of the top things that affect house prices:

1. Derelict Properties

This is the single biggest negative impact on property value. Having a derelict property on your street or worse next door could knock a whopping 12% off the value of your home. Worse still it isn’t something you can personally solve, but don’t worry help is at hand; most councils now employ “empty houses” staff who will liaise with the property’s owner and give them 48hrs to secure a derelict property, if they fail to do so then the council will secure the property themselves. If the property continues to remain unoccupied for more than 6 months the council should take possession and let the house out to tenants, restoring your home’s value.

2. Railway Lines

It is a bit of a myth that living near any form of railway line will reduce your property’s value. In actual fact living near to a train line can boost your property’s value especially if you live in the south of the country. Railways only really have a negative impact on property value when they are in such close proximity that they cause noise pollution and movement within your property. David Bexon, Managing Director of propertypriceadvice.co.uk says “Many people derive a deep seated sense of reassurance hearing a train in the distance during the night, not if it’s rattling the cutlery through! It begins to negatively impact the value if rail lines are less than 300 metres away and of course it depends on the type of track. It’s always best when purchasing a house to make certain of the noise proximity and the frequency of services before making a decision.”

3. Wind Farms

This is still a bit of a grey area with mixed opinions and results; the truth is that not enough is known about the actual effect on house prices due to the limited examples in the UK. We've looked at some research conducted by RICS (Royal Institute of Chartered Surveyors) in 2004 which concluded that 60% of those sampled believed wind farms had decreased their property’s value with a further 7% believing this negative impact begins when a planning application for a farm is made.

RICS did revisit the topic back in 2007 and these results proved a lot less definitive. They found evidence that there are other influencing factors in addition to the wind farms. The study by Peter Dent and Dr Sally Sims of Oxford Brooks University revealed that terraced and semi-detached properties located within a mile of a wind farm were the worst affected but detached properties remained largely unaffected.  

Some experts believe that wind farms actually add value to properties through their energy efficient benefits and contributions to energy performance certificates. EcoNorthWest conducted research which concluded that there was ‘no evidence supporting the claim that wind farms decrease property values” they used the example of Nympsfield, Gloucester which showed house prices increased following wind farm development and operation.

So as we said there isn’t a definite answer as to whether wind farms will affect your value, but we believe if you are living within a mile of a large wind farm it will no doubt have some impact on your property’s value.

4. Smoking

Smoking in your home won’t diminish its value in real terms but many people won’t even consider buying a property that smells of cigarette smoke and if you are finding that you are struggling to sell your property you may have to drop the price to guarantee a sale. Don’t panic though there are ways that you can get rid of a cigarette smoke in your home:

1. Remove all ashtrays/smoking material from the main living area.
2. Light scented candles to fragrance the room.
3. Open a window and put a fan in the room to circulate the air.
4. Spray furniture with Febreze or a similar product.
5. If you can afford it, replace wallpaper as it will hold the smell.
6. Leave a bowl of white vinegar in the room overnight - it may sound odd but apparently it works.
7. Vacuum/Shampoo your carpets as smoke will linger there.
8. Replace light bulbs. The heat in them draws the smoke and residue will stay on the bulb so that every time it warms up it releases cigarette odour.

Once you have tried some of these tips make sure that any future smoking is done outdoors. This will make a huge difference.

5. Flight Paths

The main problem with living on/near a flight path is the noise, but increased traffic and pollution can also cause problems. As with the railways these only really occur when you are living in very close proximity to a busy airport and although a flight path won’t add value it will most certainly improve the economy of your local area.