Central London House prices affected by London pollution
Published Jun 10th 2016
2 mins read
Pollution – a hot topic – and one that is becoming increasingly popular for London homebuyers looking for property. One of the main considerations, other than quiet, peaceful neighbours, being unaffected by the tube, train or overhead aircraft noise is the desire to live in areas with ‘cleaner’ air.
People are becoming far more conscientious of pollution in London, and rightly so, with nearly 9,500 people being affected each year , concerns especially for family buyers and their children, where pollution can affect the growth of their lung development. With the London property market saturated, it can become quite difficult to find that ideal property away from busy roads and traffic congested areas.
But what does this mean for future house searchers in London? Well buyers in Central London are interested in emission levels for areas now more than ever. Increasingly Garrington are seeing first hand evidence that House-hunters wish to know the ins and outs of not only the property market and its location, but also which areas have high or low emissions and what exactly is being done to either improve or reduce them.
With Sadiq Khan and the ‘Green Agenda’ – Tackling toxic air through Ultra Low Emission Zones in 2020 – shows there is a genuine concern amongst Londoners and it would also suggest that areas in the peripheral or close to a park and low traffic density – like Hampstead, Wimbledon, Kingston, Dulwich and Blackheath for instance – will become particularly focused on emission levels. It is my belief that this concern will be typical of those ‘family’ clients who may have previously considered areas like Islington, Fulham, Chelsea and Chiswick who have children and who want to make a difference in their own lives and the lives of their children.
With individuals now spending more time in their property, the gap between moves becomes larger than ever. I now see prospective buyers who want to live in a safer, cleaner environment and therefore would look to move further from the Centre, and compromise on convenience, to negotiate for a healthier existence. This, in the long run, may affect house prices adversely in some locations, with Central London prices dropping and outskirts becoming more popular, especially with lower emission areas with ‘greener’ designs i.e. Solar panels.
If you are considering a move and would like to know more about how Garrington can expertly guide and advise you, please get in touch for a no obligation initial discussion.