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Surveyors claim house prices under Southend Airport have dropped
HOUSE prices under the flight path of Southend Airport have dropped by up to 15 per cent, surveyors claim.
Agents preparing compensation claims say homeowners have cut their asking price by 10 to 15 per to sell their property following the expansion of the airport.
Bosses at Southend Airport revealed six claims for compensation had been revealed so far and said they would be assessed when house price data becomes available.
Chartered surveyor Chris Hunt, of Hunt Scott in Dorking, said: “I know of other people on the market who cannot sell but these are people who have been prepared to bite the bullet, lower their price and lose the shortfall.
“For these people, obviously they are dotted around, but as far as I’m concerned it’s 10 to 15 per cent, depending on location.”
Mr Hunt has submitted three “advanced claims”, where a homeowner who has sold their property within the first year of a development – such as the airport runway extension - registers an intention to seek compensation for a loss in value as a result when claims are considered at the end of the year.
Alastair Welch, managing director of the airport, said: “While recent evidence reinforces the strength of house prices in the Southend area, a total of six claims have been made for compensation from agents acting on behalf of people who have recently sold properties in the area.
“We anticipate that as further house price data becomes available, their validity will be appropriately assessed.”