High speed rail link already blighting property market
News Category: Industry News
Published: 23-Aug-2010
The compensation scheme for owners of properties blighted by a new high-speed rail link has come under fire as being completely inadequate.
The route of the new London to Birmingham line will start at Euston and pass through Buckinghamshire, just south of Aylesbury, Northamptonshire and Warwickshire. The proposed route, announced in March, includes pretty villages in the Chilterns Area of Outstanding Natural Beauty.
Although the exact line of the High Speed Two route will not be confirmed until next year, under the new Exceptional Hardship Scheme, the Government will buy the houses of people living along the likely route and who need to sell urgently.
Some £50m has been set aside under the scheme, which critics say is not nearly enough, with reports of house sales already falling through and the scheme criteria far too strict.
The trains will be up to 400 metres long and carry up to 1,100 people at speeds of over 200mph. There would be up to 14 trains an hour.
If YOU are an agent operating in one of the affected areas, please post your comments below and let us know how the rail line is affecting your business and the market.
Article courtesy of Estate Agent Today Sign up for EAT newsletter
