Your Nuisance Neighbour Could be Costing You £37,000
Nobody wants to move into a new property and have to deal with any form of harassment or nuisance from the neighbours, but the difference between moving in next to a nice and a naughty neighbour could be worth more than £37,000 to the valuation of an average household.
Based on the statistics taken from a recent study, a ‘nuisance neighbour’ has the potential to reduce a property’s worth by up to £17,321 or 8.2%. On the flip side, the perfect neighbour can have a positive impact by adding £19,856 or 9.4%, implicating a £37,000 round total difference.
There have been a combination of indicators which can contribute towards a bad neighbour, but the most notable and effectual factor is broken or boarded up windows, with the ability of reducing the value of an average house by up to a massive 10.7%. The next most telling maintenance issue was unsightly or imposing extensions or DIY jobs, followed by fly tipped gardens that contained excess rubbish or mess.
The old age noisy, party having, rude and car park stealing neighbour traits are all still, of course negative attributes to have and can have an impact on the value of your property. So we would urge you to investigate the habits and traits of your prospective neighbours before you go any further into your property deliberations.
Understandably, certain areas are often more likely to have problems associated with a nuisance neighbour and some of the more heavily affected areas are London, Newcastle and Birmingham.
Josh Cousens – abbotFox
You May Also Enjoy
Commonhold White Paper – Thoughts from the Industry
Greenpeace Ruling Exposes UK Government Policy
Rightmove commentary on mortgage market + weekly tracker
Government plans to ban new leasehold flats
Bank of England Money and Credit Report – January 2025
