High-speed rail line - property price fears

The full extent of blight caused by HS2 rail plan has been officially rated at 100 per cent by a building society, as it valued a house near the proposed line at £0.

The former post office is around 450 metres from the roposed HS2 line in Turweston, Bucks, near Brackley, which is well outside the 120 metres within which the Government is proposing homes would receive automatic compensation. Given that a home 450 metres from the line has been valued at nothing, it is likely the mortgage lender sees the entire village of Turweston as completely worthless.The owner had the home on the market for £275,000 and had received an offer for the property last year, but the buyer failed to get a mortgage after it was valued the property at zero pounds and zero pence. 
We have heard of many estate agents telling people their houses are worthless and demanding their fees up front before marketing 
properties, but this is the first time we have seen an official zero valuation from a lender, and the situation is only going to get worse.
The Government keep talking about the supposed benefits of HS2, but they have made no effort to calculate the ‘dis-benefits’ construction or of lost businesses, amenities or home values, and 
without those calculations their entire case for HS2 is simply fraudulent. We estimate there are 172,000 properties effected by Stage 1 on HS2 alone, with a 
monetary value of £5 billion. The Government spin is that they will be ‘generous’ with compensation, but we believe only 16 per cent of applicants have been paid up in two and a half years so far. 
They have turned a blind eye to how property blight effects the lives of real people and how it will effect the economy, because they don’t want to hear anything bad about HS2. They have to take steps to compensate anyone experiencing loss fully, and it they can’t afford to do that, they can’t afford HS2.

Joe Rukin

Stop HS2 campaign
co-ordinator.