EXCLUSIVE Why a messy neighbour could wipe £43,000 off YOUR home's value?

Daily Mail​

7 days ago

Poorly maintained or unattractive neighbouring properties knock an average of £43,000, or 16 per cent, off house prices in the nearby vicinity, data seen by This is Money suggests.
Rubbish piled up in a front garden, boarded-up windows and towering weeds can all be off-putting for buyers, Churchill Home Insurance said.
Poorly executed extensions or DIY, run down or abandoned vehicles in the front drive, an overgrown garden or overflowing gutters can be similarly problematic for sellers.
London-based sellers are likely to feel the biggest financial sting from poorly maintained neighbouring properties, the findings suggest.
Unsightly neighbouring properties could dent a sale price in London by as much as £89,000.
Sellers in the South East of England face the second largest sale price sting from grim neighbouring homes. Poorly maintained neighbouring properties in the South East could wipe over £61,500 off a house price.
Across the East of England, inadequately maintained neighbouring homes could knock £54,000 off the selling price.
In the West Midlands, where the average property price is around £246,636, the potential loss of value is lower, at £39,462.
Sellers in Wales can expect an unkempt property next door to reduce their property price by £33,181.
Across Scotland, where average property prices are £185,870, sellers can expect close to £30,000 knocked of the final selling price for their home.
In Northern Ireland, where house prices are around £183,259, a property's value can be hit to the tune of £29,321 by shoddy neighbouring homes.
The North East of England, where the average cost of home is £160,452, sees the lowest impact from unsightly neighbouring properties.
In the North East, sellers can expect to see £25,672 wiped off their selling price if their neighbours are yet to spruce up their property.
The research was conducted by Censuswide, comprising views from 500 estate agents.
Can I make my neighbour tidy up?
Ninety-seven per cent of estate agents encourage conversations with neighbours to help boost property prices in the area, the research found.
While problematic homes next door can be an issue, people can have messy or unkempt properties for many reasons.
Many won't be down to laziness and it is best not to jump to conclusions if you see overgrown bushes or broken guttering.
Some people may be too unwell to keep on top of property maintenance, while for others, the costs involved can be prohibitively high.
If a neighbour is vulnerable and struggling to keep on top of their property's maintenance, offer to lend a hand.
If, however, your neighbour is just lazy and there are piles of junk in their garden, the situation is trickier.
If safe, you could politely knock on your neighbour's door and ask them why the rubbish is there and if it can be cleared. If this fails, you may need to get the council involved.
Sarah Khan, head of Churchill home insurance, told This is Money: 'Much like family, you cannot choose your neighbours, or who moves in next door.
'Sometimes you get lucky with neighbours and sometimes less so.
'Unfortunately, no matter how well presented your house is, a messy or poorly maintained neighbouring property can have a significant, detrimental impact on your sale price.
'If you find yourself in this situation and it is a cause for concern, it is worth trying to have a chat with your neighbour to see what can be done about it.
'Even a quick tidy up can make a huge difference, it does not have to be expensive but could significantly improve the curb appeal and the price you achieve for your home.'
Jeremy Leaf, north London estate agent, said: ' Poor external appearance can reduce property value – and saleability.
'Dumped rubbish, untended gardens, broken boundaries, neglected repairs, peeling paintwork and graffiti are just some of the issues which we find can have a significantly negative impact.
'Most prospective purchasers assume poor appearances may not improve and even deteriorate – irrespective of assurances from owners and estate agents.
'With so many buyers spoilt for choice at present, it's even more important for sellers to differentiate and stand out from the crowd in a good way when making their properties available.
'Properties located in well-run estates or conservation areas can also ensure work is carried out promptly and to a good standard.
'House-proud neighbours and efficient management companies may be fussy but help keep streets tidy as well as maintain values.
'Sellers should be very aware they don't often have a second chance to make a first impression.'
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