Traditionally, selling a property on a busy road meant employing every possible distraction to encourage people to turn a blind eye to the fact that your property sat alongside a noisy and life-threatening hazard. Nowadays, nobody cares.
A study by online estate agent, eMoov.co.uk found that traffic volume on your road doesn't affect your property price half as much as it once did. It highlighted that in 2014, traffic on minor roads increased by more than 600,000 vehicles. It then looked at house prices on the top ten busiest minor roads in the country, and found that despite the fact that every single one of them got busier, house prices only dropped on one of the roads in the study - the B4565 in Stockport.
The results in the London Borough of Hillingdon were particularly striking. When it comes to minor roads, it is the busiest area in the country - accounting for four of the top 10 busiest roads. It is also home to Britain's busiest major road junction, a stretch of the M25 connecting London to the M4 and M40. In 2014, traffic volume in the borough increased another 2%. However, property values flourished.
The value of property in the borough as a whole increased 5%, to an average of £411,000. Property surrounding the busiest roads in the area rose even more - with property values up by as much as 18%.
The effect is replicated across the country. The busiest minor road in the UK is in Solihull, where property values were up 1% in a year. Other roads in the top ten that have seen property prices rise include those in Milton Keynes (where prices are up 3%), Swindon (up 4%), Hampshire (up 2%) and Leicestershire (up 1%).
Why don't we mind?
Founder and CEO of eMoov.co.uk, Russell Quirk, attributed it to the fact that demand is so high that buyers are willing to overlook aspects of a property that would previously have proven to be sticking points.
He said: "It just goes to show that a busy B Road outside your front door is no longer a turn off for buyers. With the demand for property increasing, within London especially, people will now overlook a number of factors which may have swayed them away from a property in previous years."
It seems that house prices have risen so much that people now have a mindset that they are going to need to make unattractive compromises if they are ever to stand a chance of getting on the property ladder. It's not so much that they don't care about busy roads any more: they just cannot afford to care.
But what do you think? Would a busy road put you off a property? Let us know in the comments.
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