Buying or selling a home in London can be a complex process, with various factors potentially impacting the value of your home. With new data showing an increase in the capital’s house prices for the first time since April 2023, it’s important to be aware of the elements that could devalue your home. Rhianne McIlroy and James Moran share with The Standard their insights on what to look out for and how much these factors can affect your property’s asking price.
“While close proximity to the Underground is a big selling point, being too close can negatively impact your property’s value,” says Rhianne, London Buying Advisor in Prime Central & South West London. If you can see or hear the Tube, this can decrease your home’s value by 10-15 percent.
James, Head of London Sales, also points out the importance of proper planning permissions: “Issues like a lack of listed building consent or breaches in such consent can be concerning” and depending on the severity, this can devalue a property by 5-10 percent.
Read the full article here.