Fracking and House prices
Yes – it’s that inconvenient story that just won’t go away.
Estate Agency Today carries the following story today
Fracking could hit house prices, warn surveyors
Monday 15th April 2013
Ministers are wrong to say that fracking will not blight house prices, a national surveying service has warned.
The Department of Energy & Climate Change says that the practice of extracting shale gas from the ground would have no effect on local house values.
But Legal & General Surveying Service said this was by no means clear.
Kevin Webb, technical director, said that fracking could have an impact on the long-term desirability of an area and house prices.
Webb said: “Concerns have also been raised over the disruptions fracking sites could cause to local communities. Short-term infrastructure issues could arise as a result of these new sites.
“The exploration phase can often be intrusive, with small towns having to accommodate changes to structure, such as the construction of new roads suitable for heavy commercial vehicles.”
New research by Durham University has suggested that fracking may become a commonplace practice.
We would love to know what qualifications anyone at the DECC has for predicting house prices.
So here we find ourselves on the horns of a dilemma – which do you trust? A politician or an estate agent?
I think I’d be more inclined to believe the Technical Director of L&G Surveying services myself.
Let’s hope we don’t see the 23% decrease predicted by the Daily Mail last year if fracking goes ahead here.