how much does japanese knotweed devalue property

Selling a house with Japanese Knotweed in or around the property is going to cause you a serious headache. Now it is one of “the UK’s most aggressive, destructive and invasive plants” according to the Environment Agency, due to its ability to spread through tarmac, concrete, driveways and drains. 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A case in Hertfordshire hit the headlines a few years ago when the value of a couple’s home dropped by more than £250,000 because of a Japanese knotweed invasion. A recent survey by YouGov and Environet UK, which specialises in removing the weed, found that around 5 per cent of UK houses are currently affected by knotweed, either directly or indirectly (when a neighbouring property is affected). That’s according to former President of the Irish Auctioneers and Valuers Institute Eamon Flaherty, who says that the plant can undermine the structural integrity of roads and buildings. Whichever way you choose to deal with Japanese Knotweed, it’s important to bear in mind that lenders aren’t lending against property that has Japanese Knotweed (even if it is a few metres away). How much does Japanese Knotweed devalue property? Japanese knotweed is wrongly destroying the value of thousands of homes because mortgage lenders are relying on discredited scientific evidence, an investigation by MPs has found. Norman Lamb MP, Chair of the Science and Technology Committee, said: It is clear that the UK’s current approach to Japanese knotweed is more cautious than it needs to be, especially when comparing it to that of other countries. Japanese knotweed can devalue a property between 5-15%. Read our full mailing list consent terms here, Marc Montaldo of Cobley’s Solicitors, who specialises in Japanese knotweed litigations, said: “In legal cases relating to diminution in value due to knotweed, we typically see claims for around 10 per cent of the property’s value. Want to bookmark your favourite articles and stories to read or reference later? There are many stories in the press, with similar headlines, that state Japanese knotweed is causing house values to be slashed by as much as a half. The authors acknowledged knotweed can worsen existing cracks in structures, but in general prefers to grow around obstacles rather than burrow through them. This can be expensive to obtain - and even then buyers may be reluctant to take a property on with Knotweed. The report focuses particular criticism on the continued use of the “seven-metre” proximity rule, which was proposed in 2012 by the Royal Institution of Chartered Surveyors (RICS), but has since been ditched because it lacks a solid evidence base. The presence of Japanese knotweed has diminished the value of affected houses by 10 per cent, creating an average loss of £22,800 to property owners. Tier 4 lockdown: What are rules and which areas are affected? It is estimated that between 850,000 and 900,000 UK households are affected by the Japanese plant, wiping almost £20bn off UK house prices. Japanese Knotweed can devalue a property between 5 and 100%. It’s not against the law to have Japanese knotweed on your property, but inaction that allows it to spread to any surrounding land is an offence that could incur fines of up to £20,000 if you are a business. We can survey the property and assess the risk. It is particularly hard to eradicate, requiring excavation or treatment with herbicide over several years, a process which can cost £5,000. Invasive Japanese Knotweed can damage the foundations of your home creating a risk of subsidence. “House value halved due to presence of Japanese knotweed”. According to the latest Land Registry price index, the average UK house costs £228,000. Local people are being warned that the presence of Japanese Knotweed can seriously devalue a property. Because of the costs associated with treating knotweed and the stigma attached to the plant it can impact property values, often by as much as 10-15 per cent. For your essential rundown from The Telegraph, sign up to our free Front Page newsletter and new audio briefings on WhatsApp. Furthermore, mortgage lenders will usually refuse to give out loans unless property owners have a knotweed management plan with an insurance-backed guarantee in place, which can usually be passed on to a buyer and their mortgage lender. Japanese Knotweed can devalue a property between 5 and 100%. Most recently, a property in Woolston Park in Cheshire claimed a potential £30,000 loss due to the presence of knotweed. Want an ad-free experience?Subscribe to Independent Premium. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Japanese knotweed can devalue a house between 5-15%, however, in some more extreme cases, the plant has been known to almost completely devalue properties. The advice to anyone with Japanese Knotweed is to have it treated by a professional company as soon as possible. The spreading of the … Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. Japanese knotweed also appeared in several high profile legal cases this year, as landowners were successfully sued for allowing the plant to spread into neighbouring properties. Chief Constable warns drivers considering flouting Scotland-England travel ban: 'Don't chance it'. Covid-19 vaccine: Latest updates on Oxford, Moderna and Pfizer breakthroughs - and who will get it first? Start your Independent Premium subscription today. This is much less than the 7 metres commonly cited as the risk zone. Environet estimates that Japanese knotweed now affects 4 – 5% of homes in the UK. Insurance backed guarantees can be provided to restore the property’s value. Please be respectful when making a comment and adhere to our Community Guidelines. Japanese Knotweed is an invasive plant and if someone else’s negligence has left your property infested, you may be able to claim £10,000 or more in compensation, often on a no win no fee basis. The species can grow through tarmac, disrupt paving and exploit cracks in buildings. What damage can Japanese Knotweed do to my property? Watch out for Japanese Knotweed. The research examined 68 homes where knotweed was found, as well as 81 additional sites. Japanese knotweed knocks £20bn off value of UK property market, has knocked £20bn off the total value of the UK. For information specific to the activity of resveratrol, see … Japanese knotweed has knocked £20bn off the total value of the UK property market, according to new research, with many mortgage lenders refusing loans for properties affected by the weed. It is estimated that more than two per cent of development sites and 1.25 per cent of residential properties in Britain are affected by the plant, amounting to tens of thousands of sites in total. The committee pointed to other invasive plants which do not have the same “chilling effect” on property prices. The pair had only lived in the new build property for a month when they found the weed growing first into their garden, then up through the floorboards into their dining room. Darkened rooms. “The current framework lacks a clear and comprehensive evidence base and yet is causing significant problems to some house vendors and purchasers,” said Mr Lamb. It was first introduced to the UK in the mid-nineteenth century as an ornamental plant in parks and gardens, but has since become a nuisance. It can push through concrete, meaning it can cause structural damage to your property that can devalue your property by 100 per cent. Last year a study by the University of Leeds with engineering firm Aecom argued that Japanese knotweed does not cause significant damage to buildings, even when growing in close proximity. Source: Royal Horticultural Society A 2017 survey by the Crop Protection Association suggests that among individuals affected by knotweed, 15 per cent had a … The oriental plants were first introduced to the UK in the nineteenth century. This is due to the stigma attached to knotweed impacting its future sale price.”. Please continue to respect all commenters and create constructive debates. It can even grow through concrete which can create cracks in brickwork, patios and … The extent to which a property is devalued will depend on the severity of the infestation and the proximity of the knotweed to the home. Three to four cups of tea per day, each prepared with 1.5 grams of knotweed powder, have been used with apparent safety. Japanese knotweed This invasive species spreads very quickly and can cause damage to roads and properties. The amount that a home is devalued by will depend on the severity of the infestation and its proximity to any buildings. In the most dramatic instances, homes have been completely devalued as a result of severe infestations. When taken by mouth: Knotweed is POSSIBLY SAFE when taken by mouth short-term. Are you sure you want to mark this comment as inappropriate? Only one … “We need an evidence-based and nuanced approach to the issue, one that reassures owners and buyers that they will not be subject to disproportionate caution when trying to sell or buy a property.”. We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future. Creating a risk of prosecution if is spreads to any neighbouring properties is due to presence of Japanese knotweed £20bn... 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