True cost of a knotweed and bamboo invasion as natural forces wreck house values
Household sale experts at My Home Move Conveyancing have put a value of the risks posed by the eight factors.
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Eight “natural forces” that can wipe tens of thousands of pounds off the value of a home have been identified. Among the most dangerous are Japanese Knotweed and Bamboo, which can overtake any garden and, generally, need expert removal.
New research suggests these green infestations can each wipe an average of £42,000 off the asking price of a property. Household sale experts at My Home Move Conveyancing have put a value of the risks posed by the eight factors.
They said worst of all is subsidence where the ground beneath a home shifts, impacting the foundation.
The firm said: “It’s thought that signs of subsidence can devalue a home by up to 20 percent. That’s £56,275 based on the current average UK house price of £281,373, so addressing subsidence proactively can help maintain both your home’s integrity and value.”
It said: “Japanese Knotweed is thought to be the UK’s most invasive and destructive plants and it can be difficult for sellers, requiring professional removal that can prove costly. It’s also a legal requirement that its presence is disclosed to any potential buyer.”
But it added that bamboo can be just as serious an issue, saying: “Sellers should also be aware that there are a number of types of invasive bamboo that can be as problematic.
“Like Japanese Knotweed, bamboo can cause damage to brickwork, drains, patios and cavity walls.
“Unlike Japanese Knotweed, there’s no current requirement to declare its presence to potential buyers, however, both invasive plant species are estimated to reduce the value of a home by 15 percent or £42,206.
“Both plants highlight the importance of regular garden maintenance and professional advice, ensuring your home remains in top condition.”
Fourth on the list is a risk of flooding. The firm said: “Water is another powerful natural element that can be particularly destructive and if your home is located within a known flood plain or at greater risk of flooding, it’s thought to reduce the value of your property by £28,137 (10 percent).
“However, there are many ways to safeguard your home against flooding, such as installing flood defences and ensuring proper drainage, which can help preserve your property’s value and provide peace of mind.”
A simple lack of garden menace resulting in a property appearing ugly and overgrown is also a warning sign to buyers.
The firm said: “While a well-maintained garden can create a welcoming first impression for potential buyers, failing to keep your garden in check could reduce the offer they are willing to make by 8.2 percent - equating to £23,000 based on current market values.”
And while we all over our pets, potential buyers may not feel quite the same.
The conveyancing experts said: “Managing pet-related aspects such as pet hair, odours or damage around your home can make it feel fresh and inviting, while it's thought that evidence of an overly pet-friendly home could see buyers offer 4 percentbelow market values, which equates to £11,255 in today’s market.”
Other issues to sort out before inviting estate agents through the door include, damp, mould and woodworm.
It said: “While damp, mould, and woodworm are common issues, they are manageable with regular home maintenance.
“Simple solutions like proper ventilation and periodic inspections can make a big difference, and can help avoid potential damage when it comes to the saleability of your home, which could reduce the value by between 1 percent and 5 percent.”
The forces of nature wrecking house values
Cause
Subsidence
Japanese Knotweed
Invasive Bamboo
Known flood plain or flood risk -10.0% -£28,137
Poor upkeep and overgrown gardens -8.2% -£23,073
Evidence of pets
Damp and mould
Woodworm
