HOUSE PRICE DROP IN AREAS IMPACTED BY 3RD RUNWAY

PRESS RELEASE

20 May 2019

For immediate use

HOUSE PRICE DROP IN AREAS IMPACTED BY 3RD RUNWAY

House prices in areas around Heathrow have fallen by up to 6% since Parliament voted to expand Heathrow, just 11 months ago.

Research by GetAgent, an estate agent comparison site, found that since the vote in Parliament last June, house prices in the Royal Borough of Windsor & Maidenhead have fallen by 6%, 4.4% in the London Borough of Wandsworth, 1.5% in the London Borough of Hillingdon and have stagnated in the London Borough of Hammersmith & Fulham (1).

It is thought the primary reason for the decline could be attributed to areas that would endure significant increases in aircraft noise from the additional 260,000 planes per year. Recent research from Greenpeace found that 1.6 million people are set to be impacted with noise from an expanded Heathrow (2). 

Heathrow’s consultation on areas impacted by new third runway flight paths caused uproar in boroughs that have seen a fall in house prices, with these four boroughs fighting the plans and are expected to challenge the plans in court once a final planning proposal has been produced by Heathrow Airport and put to the Secretary of State.

The news comes as Heathrow plan to launch a consultation next month which will include proposed locations for new airport buildings, including a detention centre, fuel storage depots, flood storage areas, borrow-pits, supersize car parks, dozens of new hotels and diversion of local waterways.  These sites will not just be in the new airport boundary but in locations far from it, with sites in Uxbridge, West Drayton, Windsor, Bedfont, Stanwell, Cranford and Hayes all featured as possible locations for these facilities in Heathrow original consultation in January 2018 (4).

Reacting to the news, Jackie Clark-Basten, Chair of local campaign group Stop Heathrow Expansion, said: 

“This comes as no surprise to us. Heathrow expansion brings a blight to our lives and community.

“The only way to end this is to scrap the project and stop more people’s lives being impacted by airport noise, pollution and more traffic.”

ENDS.

Notes

1)    Information from GetAgent’s research https://www.mortgageintroducer.com/house-prices-drop-near-scheduled-heathrow-expansion/

2)    Heathrow noise will impact 1.6 million, says research https://www.independent.co.uk/environment/heathrow-third-runway-expansion-noise-pollution-airport-greenpeace-a8918076.html

3)     Sites of possible airport-related development – Heathrow Scheme Development Report https://www.heathrowconsultation.com/wp-content/uploads/2018/01/Scheme-Development-Report-100118-Medium-Res.pdf