Road Surfaces and Pavements effect Property Values?
It’s with total validation that the roads of England and the government (Highways Act 1980) maintaining them are the butt of many jokes… How many times have you had to steer round a pothole? Many of the roads across the country are in poor condition to include pavements too, many have been neglected and not only prove to be an eyesore, but also a danger to both motorists and pedestrians. Around 1.6 million potholes are repaired each year in England & Wales, the equivalent of one every 19 seconds.
“As of 2020, the total funding for England’s roads included £500 million in a so called Pothole Fund, a £100 million Challenge Fund, and a further £50 million Pothole Action Fund allocation. This total of £650 million is intended to fix up to 50 million potholes, and reduce the number of future holes.” source politics.co.uk
Does the state of your road / pavement effect the overall value and appeal of your property? Well for sure location, location, location is one of the key factors when deciding on property purchases from proximity to privacy, views, neighbourhood and more being topics considered. Many will say how the presentation of property close by can have an effect on the value of your property telling prospective buyers what kind of environment they are buying in to.
The outside for many property will be the immediate routes leading to your property and also the type and standard of these immediate roads / drives / pavements. Most roads and pavements will be owned by and managed by the local council. It is always advisable to check on any improvements that have been scheduled not only for road surface improvements, but also upgrades to services / utilities which are usually channelled beneath the ground. Have you ever wondered what those coloured wording and signs mean on the roads and pavements well each has a specific indication to what lies underground with regards to services.
As upgrades such as replacing old gas pipes and laying in new plastic options or providing ultra fast fibre broadband can have a positive effect on house prices and if visual blemishes on roads are a consequence then it might be worth it? How the repair work is carried out is also of utmost importance both for immediate appearance quality and life span – Differencing road surface finishing and uneven workmanship are what can take effect on first impressions when potential buyers approach your property.
“The Department for Infrastructure (DfI) is responsible for maintaining adopted roads (including footpaths and verges).” source nidirect
Without question, an old and tired road / street with evidence of frequent maintenance along with cracked and uneven pavements can have an effect on the immediate property values. The likes of old street (yellow) lighting, yellow or red lines / parking permits, unmaintained verges / trees and more can also add a negative atmosphere. Well maintained roads with all the up to date services installed are going to be a major plus and will increase property value especially on subjects such as broadband speed.
You May Also Enjoy
How to market to Estate Agents UK
Preventative Measures to Reduce the Risk of Emergencies in a Rental Home
Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth
Breaking Property News 15/11/24
Labour’s Vision for Homeowners and Renters: Key Changes to Expect
