Knotweed is knocking £34.12bn off of UK property values

January 24, 2020

Leading tradespeople comparison site, HaMuch.com, has looked at the value being wiped from UK house prices due to the nation’s growing knotweed epidemic and what this equates to for the average homeowner in different areas across the UK.

In just two months the Japanese housing horror will start to rear its ugly head again and by June it will have grown to over three metres.

It’s believed that at least five percent of homes across the UK are affected by knotweed, knocking 10%, or £23,530, of the average UK property’s value. With 29 million homes across the nation, that’s 1,450,000 properties impacted with a huge £34.12bn wiped off in value.

The cost of dealing with knotweed is hefty and can run into tens of thousands of pounds for even a modest size garden, taking as long as five years to treat fully.

All the while, the average UK homeowner will see the value of their home slump by £23,530, this is, of course, higher in London (£47,546), the South East (£32,664), the East of England (£29,128) and the South West (£25,976).

With the highest house prices in the land, homeowners in Kensington and Chelsea stand to lose £119,162 on the price of their property if they find it has been infested with knotweed.

Westminster and Camden are the next largest price losses, facing a loss £93,860 and £86,280 respectively, while South Bucks is the home to the largest loss outside of London at £59,792, followed by Elmbridge (£59,673) and Chiltern (£54,617).

Founder and CEO of HaMuch.com, Tarquin Purdie, commented:

“Knotweed is a homeowner’s worst nightmare and there really is no DIY fix for this aggressive backyard vandal. It can take months on end to ensure it has been properly disposed of but can be more costly should you decide to turn a blind eye.

The quicker you can get on top of the problem, the better, as a house with knotweed will not only drop in value but will also struggle to find a buyer.”

UK – 2019 – overall impact of knotweed
29 million homes
£235,298
Knotweed impact
10%
Knotweed impact value
£23,530
(Nov 2019 ave hp)
UK number of homes =
29,000,000
5 per cent affected =
1,450,000
Therefore:
Number of affected homes =
1,450,000
Knotweed impact value (on UK ave hp) =
£23,530
Total impact in £ value terms =
£34,118,258,466
Largest price impact from Knotweed of all UK areas
Location
Current Average House Price
Impact on value
House Price Afterwards
Kensington And Chelsea
£1,191,616
£119,162
£1,072,454
City of Westminster
£938,596
£93,860
£844,737
Camden
£862,799
£86,280
£776,519
Hammersmith and Fulham
£731,044
£73,104
£657,940
City of London
£709,998
£71,000
£638,998
Richmond upon Thames
£665,390
£66,539
£598,851
Islington
£627,907
£62,791
£565,116
Wandsworth
£599,334
£59,933
£539,401
South Bucks
£597,924
£59,792
£538,132
Elmbridge
£596,727
£59,673
£537,055
Haringey
£569,364
£56,936
£512,427
Hackney
£565,018
£56,502
£508,517
Chiltern
£546,167
£54,617
£491,550
Three Rivers
£529,439
£52,944
£476,495
Barnet
£525,458
£52,546
£472,913
East Midlands
£197,792
£19,779
£178,013
East of England
£291,281
£29,128
£262,153
London
£475,458
£47,546
£427,913
North East
£130,712
£13,071
£117,641
North West
£169,362
£16,936
£152,425
South East
£326,636
£32,664
£293,973
South West
£259,758
£25,976
£233,782
West Midlands Region
£204,238
£20,424
£183,814
Yorkshire and The Humber
£165,642
£16,564
£149,078
England
£251,222
£25,122
£226,100
Wales
£172,574
£17,257
£155,316
Scotland
£154,798
£15,480
£139,319
Northern Ireland
£139,951
£13,995
£125,955
United Kingdom
£235,298
£23,530
£211,769

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →
Breaking News

Breaking Property News 15/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Digital transformation of real estate drives profitability Press Release – London 14th November 2024 – Following the October budget, estate agents across the UK are seeking new ways to adapt to an evolving property market. Rising costs and shifting buyer expectations have driven a need…
Read More →
Estate Agent Talk

Labour’s Vision for Homeowners and Renters: Key Changes to Expect

The UK housing market continues to be a complex and often challenging landscape for both homeowners and renters. Labour’s vision for housing reform aims to address longstanding issues in affordability, security, and sustainability, setting out a series of policy proposals that could reshape the property market. Whether you are a homeowner, a renter, or an…
Read More →
Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →