15 of the Worst things that can Happen to Impact Property Value

House Buyer Bureau

15.      Downgraded Ofsted Rating: -0.5% (£1,140)

According to research conducted by Surrey University, if you’re closest school’s Ofsted rating is downgraded by one point, this will hit nearby homes with a house price depreciation of 0.5%. However, every single point increase in Ofsted rating is also worth 0.5%.

14.       Unlucky No.13: -2.3% (£7,000)

When compared with neighbouring properties, unlucky-for-some no.13 houses achieved sale values averaging 2.3% less. (Zoopla)

13.       Untidy Home: -2.8% (8,000)

Most houses are at their cleanest and tidiest when on the market, meaning a messy home will see an average 2.8% knocked off the asking price as a result. Amounting to £8,000, this seemingly small percentage is not to be sniffed at!

12.       Evidence of Animals: -5% (£14,000)

If a property carries a strong pet smell or evidence of several animal inhabitants, according to Moneywise values can expect to be hit by an average of 5%.

11.       Kerb Appeal: -5% (£14,000)

Failing to upkeep the kerb appeal of your home could cost thousands. Simple tips such as a fresh lick of paint, clean windows and a well-kept front garden can pay dividends.

10.       Bad Taste: -5-10% (£14,000-29,000)

According to the National Association of Estate Agents, semi-permanent bad taste can cost homeowners between 5 and 10% of their total property value.

9.       Shoddy DIY Work: -11% (£32,000)

A report by TrustMark shows that signs of shoddy DIY result in perspective buyers offering 11% less than the asking price for a property.

8.       Bad Neighbours: -12% (£35,000)

Any formal complaints made against neighbours have to be declared to perspective new buyers, meaning a case of bad neighbours can hit your property value by 12%. (Nationwide)

7.       Poorly Maintained Neighbouring Property: -13% (£37,000)

According to Churchill Home Insurance keeping up with the Joneses is real and if a neighbour fails to adhere to your immaculate standards it could cost you 13% of your property value.

6.       Wind Turbines: -13% (£37,000)

The London School of Economics (LSE) calculated that living within 1.2 miles of a wind turbine costs homeowners an average 13% off their property value. This reduces to a 3% reduction for those living within 2.5 miles.

5.       A New Airport Runway: -14% (£40,000)

Although news of a new airport runway can be good for commuters, it’s not good news if your house is close by. It’s estimated that those closest could have their house prices hit by £1345 per decibel of airport sound (Pennsylvania State University and academics in Amsterdam) and with the average aircraft taking off to the tune of 118 decibels, the impact could be substantial.

4.   Rude Street Names: -19% (£55,000)

According to information on Zoopla, the street name you live on can make all the difference to your house price. In fact, if you are unlucky (or lucky) enough to live on one of Britain’s top 10 rudest street names, your house is on average 19% cheaper than the equivalent house a stone’s throw away on a sensibly named street. In case you’re curious, the top 10 rudest street names include Slag Lane in Lancashire and Bell End in the West Midlands.

3.   Flood Risk: -20% (£58,000)

According to the Association of British Insurers, the cost of flood damage is between £20,000 and £40,000 and figures cited by the Land Registry put the cost of flood damage at up to one fifth of a home’s home value.

2.   Too Close to the HS2: -20% (£58,000)

According to PwC, those living within 500m can expect their house values to be hit by 20%, with those living within 120m losing 40% on the house value.

1.   Sinister Property History: -25% (£72,000)

According to property expert Randall Bell, homes with a sinister history can be devalued by as much as 25% and take almost double the time to sell. The impact of the sinister event on the home’s value will gradually reduce as time goes on.

Others:

Journalistic – Living near McDonalds (-24%, £69,120), Primark (-23%, £66,240), ASDA (-22%, £63,360)

Leaving the EU – £7,500 (-2.6%) (Centre for Economics and Business Research)

Figures based on average house price – £288,000 (Feb 2016).

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