Tuesday, July 01, 2008

Roll Up, Roll Up: Airport Takes A Minimum 15% Off Home Values

In an article by Find a Property.com as far back as 2003 it was stated that:

And London City Airport likes to make out it doesn't have any impact on housing prices in the area....we suspect that the 15% has become rather larger since then, and clearly any flight expansion using more and more jet planes only adds to the negative effect on the value of property. In addition being forced into a noise contour, or a Public Safety Zone due to LCAs relentless greed to expand, is hardly an attractive benefit to add value to your home. So just how much is lost when an airport expands or changes beyond recognition of it's original planning approval whilst you have lived in the same area during that time?

In the days when LCA was just for small private planes - the original purpose of the airport being opened, it would have been a lot different. But it's managed to betray the local community, along with Newham Council and push for expansion over the years leaving the community blighted by noise and air polllution. In fact, just 2 years ago the area was a lot different, and it certainly was not dominated by the majority of flights being jets, thundering overhead forcing residents to close windows and turn up the tv - even though you still cannot hear it until the so called 'whisper jet' passes by.

Of course there's a lot of money at stake to developers, planners and business if articles such as that above are publicised too much. So don't expect the property pushers to start saying anything but the opposite!