Does fracking impact property value?
There are growing concerns among estate agents and prospective homebuyers regarding the impact fracking can have on the value of a property. There are fears that this controversial technique could potentially reduce the value of nearby properties by tens of thousands of pounds and make homes harder to sell.
A recent survey conducted by marketing research agency Redshift, indicated that 67% of estate agents based in West Sussex, Manchester and Lancashire believe fracking could bring down house prices within these areas. Research also indicated that homebuyers have begun to express concerns over fracking, and some have pulled out of the transaction as a result.
Leading search provider Searches UK urges conveyancers and solicitors to consider purchasing an Energy and Infrastructure report, particularly for properties in areas known to be affected. This report indicates if a commercial or residential site is likely to be impacted from a variety of environmental projects including fracking and HS2, as well as information on existing and proposed wind farms and wind turbines across the UK.
This report will provide clear mapping to show areas of land that are licensed for onshore energy exploration and production with details of the associated license also provided. The report is generated within 24 hours and has up to £10 million PI cover.
Sales & Marketing Director at Searches UK, Lisa Summerton, said:
“Homebuyers have understandably become increasingly wary of the potential loss of value to their properties, therefore it is important that we explore factors that may affect the cost of property. The Energy & Infrastructure report offers professional guidance, next step recommendations and compensation options where available, on energy and infrastructure developments.
“I recommend conveyancers and solicitors to consider purchasing the Energy & Infrastructure report, especially when purchasing property in an area where environmental developments have been proposed.”
You can purchase an Energy & Infrastructure Report through Searches UK along with all your other conveyancing search reports.
For more information on the Energy & Infrastructure Report or any other products and services offered by Searches UK, please visit their website at www.searchesuk.co.uk. Alternatively, they can be emailed at [email protected] or called for FREE on 0800 043 1815.