Propertymark calls for clarity for homeowners over HS2

Propertymark calls for clarity for homeowners over HS2 after agents highlight issues over the scrapping of the northern leg.

Agents have slammed the scrapping of the northern leg of HS2.

Prime Minister Rishi Sunak scrapped the Birmingham to Manchester portion of the high speed rail line this week, citing costs and claiming funding will be diverted to other projects.

Propertymark has highlighted the impact of these changes on its members.

Nathan Emerson, chief executive of Propertymark, said:

“Whilst a diversion of resources into other rail networks and transport infrastructure will support existing and new housing across the country, many of our members will have worked with homeowners impacted by house prices and other changes from the planned construction of HS2 from the West Midlands to Manchester, so its immediate cancellation brings more questions than answers. 

“What happens to those homeowners who have already had their house values affected by HS2 and those who have previously applied to the UK Government’s Express Purchase Scheme. 

“HS2 and the Department for Transport must provide urgent clarity on these matters to limit the impact on the housing market and get many of the properties currently sitting empty back available for people to live in.”

Kindly shared by Estate Agent Today