House value affected by new development of 1700 homes and HS2?

adrian84

Hello, I would really appreciate some views as I am first time buyer and cannot see the greater image well.
We are buying a house right next to the fields in a cul de sac and we found 2 interesting things:
1. After the green path at the end of the development where the field starts there is a planning application for new development of 1700 houses a school and some shopping facilities.
2 HS2 will pass at aprox 600m so right after this development. 
Is there any issue here that might cause a significant loss of value of the house? Or make it less sellable?
From my point of view, I don.t get the house with the view to the fields so doesn.t affect the value and  access to the development would not be through our side and should be the same thing or even nicer area with such a development next to.
Also HS2 is far enough with the development or without and i don.t see why to worry or if I worry then what about the people buying in the new development would do?

I attach also a picture for better understanding
My fear is that in 3 to 5 years when i will want to upgrade i cannot sell or the value would be affected. For the moment valuation from lender came ok.

RelievedSheff

You would have to put up with the building work and associated dust for a while but you get used too it. We bought a new build last year and don't even notice the building work now.

The new build estate here which will eventually consist of some 750 houses has actually increased the price of existing property in the area by quite a substantial amount. 

getmore4less

The biggest issue where there are lots of newbuilds is HTB attracts a lot of the buyers.

For the last few years the new build prices also meant older properties were competitive as the were often bigger plots.
This may change if builders have to try harder to sell, sometimes they just stall a phase, 1700 could be a building site for 10years.

HS2 disruptions have started in many areas roads closed to make junctions to work sites etc. 

Surprised you found this out after finding the place. 

Did you not check the local plan for the area it will have all the big developments for years ahead. 

HS2 should not have come as a surprise. 

getmore4less

Can see stoke mandiville hospital in that image. 

https://www.mix96.co.uk/news/local/2781677/next-section-of-aylesbury-link-road-if-1400-homes-are-built/
Planning link near the bottom. 

Aylesbury planning have a map interface you can check around the place you are looking at. 

daveyjp

1700 houses could take 15-30 years to develop.  Developers won't flood the market with new builds.

AdrianC

adrian84 said:

Hello, I would really appreciate some views as I am first time buyer and cannot see the greater image well.
We are buying a house right next to the fields in a cul de sac and we found 2 interesting things:
1. After the green path at the end of the development where the field starts there is a planning application for new development of 1700 houses a school and some shopping facilities.
2 HS2 will pass at aprox 600m so right after this development. 
Is there any issue here that might cause a significant loss of value of the house? Or make it less sellable?
From my point of view, I don.t get the house with the view to the fields so doesn.t affect the value and  access to the development would not be through our side and should be the same thing or even nicer area with such a development next to.
Also HS2 is far enough with the development or without and i don.t see why to worry or if I worry then what about the people buying in the new development would do?

I attach also a picture for better understanding
My fear is that in 3 to 5 years when i will want to upgrade i cannot sell or the value would be affected. For the moment valuation from lender came ok.

The "blight" factor of the new development and HS2 will already be priced in. You are buying a house with years of noise and dust in the immediate future. Once those are out of the way, it will simply be a house that's not on the edge of town.

Aylesbury has been expanding massively over the last decade, and will undoubtedly continue to do so.

davidmcn

Neither of these will be surprises to anybody else, and (to the extent anybody can predict the future effects) will already be taken account of in prices (and valuations). Doubt you'll notice the trains at 600m distance. As above, disturbance during construction might be more of an issue depending on the routes construction traffic takes etc.

ProDave

If you decide to move again in the next few years, the new development will make your house HARDER to sell, as buyers of the new houses will get help to buy etc but buyers of second hand houses will get no help. So buyers will be more likely to buy a new house off plan than look at second hand houses.

getmore4less

These are just a few of what's getting built.

Aylesbury is getting a circle of new builds many allready in progress. 

Must be 20+ developments in progress.

Check the local plans
https://www.aylesburyvaledc.gov.uk/section/vale-aylesbury-local-plan-valp-2013-2033#:~:text=The Plan will help to,built or have planning permission.

getmore4less

Map of the other sites. 

https://www.aylesburyvaledc.gov.uk/sites/default/files/page_downloads/Aylesbury Greater.pdf

getmore4less

Map of the other sites. 

https://www.aylesburyvaledc.gov.uk/sites/default/files/page_downloads/Aylesbury Greater.pdf