20 Sep

Railway 'could affect house prices'

Railway 'could affect house prices'

The building of a railway line could affect the value of houses for sale in the area, according to an expert.

Mark Hayward, vice president of the National Association of Estate Agents, has warned homeowners with property for sale in Buckinghamshire, Oxfordshire, Northamptonshire, Warwickshire and some parts of London that the High Speed 2 rail-line could affect the value of their homes.

However, he added that fear about falling house prices could become a "self-fulfilling prophecy".

Mr Hayward said: "I would urge everyone to remain calm and at this stage in the proceedings to spend time gathering the facts."

He added that there still many unresolved issues at this stage, including the timing of the development and where exactly the route will be.

The Department for Transport has established a fund worth £50 million in order to pay out compensation for those "severely affected" by the line.

This concern that house prices could fall comes just a week after the Communities and Local Government department revealed that house values increased on average by 9.5 per cent from July 2009 to July 2010. ADNFCR-1222-ID-800072583-ADNFCR

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