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

Almost one in five first-time buyers seeking max 60% LTV mortgages

Almost one in three (31%) first-time buyers are opting for 90% LTV mortgages, and a further 10% are looking at 95% LTV options. This hints at many first-time buyers relying on 5-10% deposits. This translates to £13,650 to £27,300 at the average UK house price of £272,995 [source]. Almost one in five (17%) first-time buyers…
Read More →
Breaking News

Property values bounce back in October

The latest Halifax Property Index shows that: – House prices rose by +0.6% in October vs a fall of -0.3% in September Fourth time in last five months that the average price has increased Average property price now £299,862, edging up to a new record high Annual rate of growth rises to +1.9% (up from…
Read More →
Breaking News

UK house prices rise at fastest pace since January

House prices rose by +0.6% in October vs a fall of -0.3% in September Fourth time in last five months that the average price has increased Average property price now £299,862, edging up to a new record high Annual rate of growth rises to +1.9% (up from +1.3% in September) Mortgage approvals reach highest level…
Read More →
Rightmove logo
Breaking News

Rightmove accelerates AI product delivery to surface more potential sellers and buyers for agents

The UK’s largest property platform Rightmove is today announcing a series of AI developments for consumers and partners, to help agents reach more potential sellers, buyers and renters. There are currently 27 AI initiatives in development, as Rightmove makes AI technology central to its platform to benefit partners and home-movers. Four new developments – two…
Read More →
Estate Agent Talk

How to Pick the Best Option for your Business’ Broadband

Having a dependable broadband connection is crucial for any business. Whether you run a small office or a larger company, a slow or unstable connection can disrupt work, affect communication, and reduce productivity. Picking the right broadband package does not have to be complicated, but it does require careful thought about your business’s specific needs…
Read More →
bank of england interest rate
Breaking News

Bank of England Hold’s Interest Rates at 4%

With the Bank of England holding Interest Rates at 4%, here are some thoughts from the Industry. Matt Smith, Rightmove’s mortgages expert: “Ahead of one of the most widely anticipated and discussed Autumn Budgets of recent times, it was unlikely the Bank would go for another interest rate cut so close to the announcement and…
Read More →