HS2 rail link 'knocks 20 per cent off house prices'

[dutchman]

A Coventry property expert has warned that homeowners can expect “years of uncertainty” as house prices along the route of the planned HS2 rail line fall by 20 per cent.



Surveyor Chris Hartshorn has begun advising scores of residents along the route, which slices through Warwickshire.

The HS2 specialist at Elizabeth Davenport estate agents in Warwick Road, says families could lose thousands from the value of their homes and struggle to sell.

It comes a month after transport secretary Justine Greening approved the £32 billion plan.

Mr Hartshorn said: “It could be difficult for people to sell their houses where they are fairly close to the route, but not needed to be built over. There are people who will be left in limbo for a number of years.”

The non-stop London to Birmingham route will run along the western edge of Coventry to a new station near the NEC.

Iain Johnston, HS2 legal adviser and partner at Birmingham law firm SGH Martineau, has reported house prices in areas of Kenilworth and along the route down by 20 per cent.

But he offered some hope to residents, insisting it was still not too late for the route to be tinkered with.

Mr Johnston said: “Although ministers have approved the route, it is not set in stone.

“There were a whole host of amendments to the route made during the consultation process last year, including changes in and around Lichfield, Warwickshire, Northamptonshire.

“Due to its hugely controversial nature, the route is still susceptible to legal challenge by judicial review.”

So far a small number of homeowners have claimed under the Exceptional Hardship Scheme.

This is where the Department for Transport buy properties in special circumstances.

In autumn the DfT will “safeguard” the route and confirm which properties are needed.

Residents whose land is wholly or partially required can serve the DfT with a Blight Notice – forcing the government to buy it.

Mr Hartshorn said: “People whose house is on the line will be adequately compensated, but those not close enough to be on the route might have problems selling for quite some time.”

[dutchman]

Those homeowners living directly in the path of HS2 may receive compensation but those living nearby whose house prices are also affected won't. I also know from personal experience that those living in rented accommodation who are forced to move won't be compensated either.