HS2 being flagged on survey

brettcta

i'm sure this has been mentioned before, but i thought i'd share that as we're buying a property within 5km of the proposed HS2 route, our environmental search flagged up that additional searches should be done. it was only £20 through groundsure, but i thought i'd give the heads up as i imagine it'll be something that gets brought up a lot over the coming years.

despite no work being done for many years yet, it's something else to think about RE property purchasing.

for what it's worth, we're right on the edge of the 5km from the nearest part of the track (all underground tunnelling), so it won't have an effect, but i reckon a few house purchases will fall on their !!!!!! in affected areas.

Errata

Many houses in effected areas will be blighted and worth £0.

brettcta

i notice though on the groundsure report that the government will be rolling out compulsory purchases (as should be expected) but will be taking requests from people outside of the affected catchment areas to buy their houses at the full unblighted market rate if they have a compelling reason to move, which is causes by HS2.

i wonder what those reasons are?

(with the compulsory purchases, they'll be offering a rent back scheme, where you can sell the property and then live in it until they need you out).

if anyone wants a read of the documents (with my details blanked out obviously), let me now and i'll get them scanned on

Lyncroft

Also, in Camden in particular there seems to be alot of development plans in the pipeline that could have knock on effects in that area - the Abbey Road and Swiss Cottage developments spring to mind.

Better_Days

HS2 came up in my search too and I am buying in East Anglia, nowhere near the proposed route. Probably a standard part of the searches now.

Feel dreadfully sorry for the people affected especially those who fall just outside the compensation area. I suspect properties will be blighted for decades.

brettcta

under the current phase 2 proposals, the tunnels will go directly under my grandparents house. they've not been contacted as of yet (as there's a few things still to be finalised), but it'll be interesting to know what'll happen

teajug

Lyncroft wrote: »

Also, in Camden in particular there seems to be alot of development plans in the pipeline that could have knock on effects in that area - the Abbey Road and Swiss Cottage developments spring to mind.

Camden has a website for HRS to leave comments, it seems that everyone is against HR2.

http://www.wearecamden.org/

AdrianC

Errata wrote: »

Many houses in effected areas will be blighted and worth £0.

Zero? No. They'll always be worth something. Somebody will always buy them. Sure, it won't be for the full whack, there'll be a big hit - but they're still perfectly livable-in houses, and there's a lot of people willing to take a reasonably gamble on the line never actually being built.

A friend of ours recently sold his house, with the HS2 route (cutting, not tunnel) passing about 75ft from his back fence. IIRC, it went for about 2/3 of the original open market price. Crazily, though, he was refused compensation - he "hadn't tried hard enough" to sell it for the claimed original market value.

[Deleted User]

A question that is semi related:

If HS2 is going to reduce property values along the path because of environmental changes (a giant train in the middle of peoples gardens), what will the effect be on property values in the surrounding areas that gain the benefits of direct to London travel, but aren't going to have HS2 in their gardens?

For example I live in a town about 15 miles from Lichfield (the proposed termination of HS2 phase 1), which would mean this town is a fairly good place to live if someone wants to commute to London using HS2 (a ~45 minute journey time) and I routinely see people commuting from this town to London on week days at the moment (a 75 minute commute time).

I would assume this is going to have a positive effect on house values here because they'll be suited for commuting in to London, but I'm wondering if that's a simplistic view and maybe there is more to it?

Errata

It's suggested that fares on the HS2 trains will be substantially more than on non HS2 trains.