Natural Forces That Influence Property Values

The latest research from My Home Move Conveyancing highlights some natural factors that could potentially reduce the value of your home, particularly if they are identified during the survey process.

The company examined how these factors might affect property values and what this equates to based on current market values.

Subsidence: -£56,000

One significant natural occurrence that can affect a property is subsidence, where the ground beneath a home shifts, impacting the foundation. While this can lead to structural changes, early detection and prompt action can mitigate long-term effects.

However, it’s thought that signs of subsidence can devalue a home by up to -20% - that’s £56,275 based on the current average UK house price of £281,373, so addressing subsidence proactively can help maintain both your home’s integrity and value.

Japanese Knotweed & Bamboo: -£42,000

Japanese Knotweed is thought to be the UK’s most invasive and destructive plants and it can be difficult for sellers, requiring professional removal that can prove costly. It’s also a legal requirement that its presence is disclosed to any potential buyer.

Sellers should also be aware that there are a number of types of invasive bamboo that can be as problematic.

Like Japanese Knotweed, bamboo can cause damage to brickwork, drains, patios and cavity walls. Unlike Japanese Knotweed, there’s no current requirement to declare its presence to potential buyers, however, both invasive plant species are estimated to reduce the value of a home by 15% or £42,206.

Both plants highlight the importance of regular garden maintenance and professional advice, ensuring your home remains in top condition.

Risk of flooding: -£28,000

Water is another powerful natural element that can be particularly destructive and if your home is located within a known flood plain or at greater risk of flooding, it’s thought to reduce the value of your property by £28,137 (-10%).

However, there are many ways to safeguard your home against flooding, such as installing flood defences and ensuring proper drainage, which can help preserve your property’s value and provide peace of mind.

Overgrown gardens & pets: -£23,000

While a well-maintained garden can create a welcoming first impression for potential buyers, failing to keep your garden in check could reduce the offer they are willing to make by 8.2% - equating to £23,000 based on current market values.

Similarly, managing pet-related aspects such as pet hair, odours or damage around your home can make it feel fresh and inviting, while it's thought that evidence of an overly pet-friendly home could see buyers offer -4% below market values, which equates to £11,255 in today’s market.

Damp, mould and woodworm

While damp, mould, and woodworm are common issues, they are manageable with regular home maintenance. Addressing these concerns promptly can help keep your home in excellent condition and maintain its value.

Simple solutions like proper ventilation and periodic inspections can make a big difference, and can help avoid potential damage when it comes to the saleability of your home, which could reduce the value by between -1% and -0.5%.

Director of My Home Move Conveyancing, Alistair Singer, commented:
“Issues that arise during the survey process can seem daunting for home sellers, as they can ultimately reduce the value they are able to obtain for their property.

"However, by taking proactive measures and being upfront and honest with any potential buyer you can build trust, ultimately leading to fairer negotiations.

"Often a surveyor will recommend that appropriate specialist reports are instructed which not only give an in-depth analysis of the problem, they usually recommend appropriate action to overcome the issue.

"It is important that you don’t underestimate the impact of these issues as it is likely to affect a lender's decision as to whether they are prepared to give a buyer a mortgage on the property and will also affect the building's insurance premium and in the worst cases, whether insurers are prepared to take the risk.

"By addressing potential issues and rectifying any problems before listing your home, you’ll ensure a smoother transaction process and maintain the value of your property."

Full data tables and sources can be viewed online, here