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Will new build next door affect us?

We've just received a letter from the local council (we live in the UK) to inform us that our neighbours have applied for planning permission to tear down their large house and 2 semi-detached 1-bedroom houses will be built in it's place. Our house is much smaller than the current house (which is a mammoth compared to other houses on our street); we live in a 2-bedroom 1930s semi-detached house. We're planning to sell in the next few months. Will any of this affect our ability to sell? Will our house value decrease as a result? Should we try to sell before they begin building?

Asked on Jan 3 2017, Selling in Bristol | Report content

Answers (4)

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  • Once completed it will possible add value, while awaiting planning it will more than likely put buyers off rather than effect the price, and if the application fails there is the element of unknown if another application will go in or an appeal.

    Answered on Jan 4 2017, Report content
  • I agree with Owen - in areas like Bristol, there is a massive undersupply of housing so I don´t think there will be any long-term concerns in terms of value. It might be tricky to hide that building works are going on as the planning permission may come up when the prospective buyer´s solicitor undertakes checks (depending on how thorough they are). Either way, given the fact that there seem to be a lot of people house hunting in Bristol, I personally don´t think building works will put off the majority.

    Web reference: https://www.propertysolvers.co.uk/

    Answered on Jan 5 2017, Report content
  • Saying the above (and apologies for any added confusion), it would be worth speaking to a few agents in the area as I´m hearing that the market is start to slow down slightly across Bristol.

    Web reference: https://www.propertysolvers.co.uk/

    Answered on Jan 5 2017, Report content
  • Hi, Buyers don’t like uncertainty so once built it is unlikely to make a difference but during planning and building, some buyers are bound to be deterred. Jonathan :-)

    Answered on Jan 16 2017, Report content

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