London house prices: new pollution hotspot website threatens to push down values
Buyers encouraged to ask for major discounts in areas with dirtiest air
Homebuyers are being encouraged to ask for discounts of up to 20% on properties in the English capital’s pollution hotspots.
New website addresspollution.org allows users to check the level of nitrogen dioxide - a toxic gas released when diesel, petrol and gas are burnt - at any address in London, reports The Times.
The site, which uses data from King’s College London, advises: “Those renting in areas with [a bad] rating should seek a reduction in rent if they are able to renegotiate their lease.”
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The Central Office of Public Interest (Copi), the not-for-profit campaign behind the site, has given homes air pollution ratings of one (for low levels) to five, with the highest rating denoting an area that is 50% above the legal limit of 40 micrograms of nitrogen dioxide per cubic metre of air, says Estate Agent Today.
The Times cites the example of a £1.7m three-bedroom flat on Bayswater Road overlooking Hyde Park, where the annual pollution average is 45mcg/m3, giving the address a score of four. A 20% reduction in the value of this property would equate to £340,000.
The newspaper says that high scores are also recorded for “streets in Chelsea, Regent’s Park, Notting Hill and other areas where homes often cost millions of pounds”.
The new website has been launched amid growing fears over the health risks posed by air pollution, which include asthma, lung cancer, lung disease, heart disease, diabetes, stroke, and pulmonary disease.
According to addresspollution.org, “long-term exposure (for a year or more) to 70mcg leads to a 27.5% increased risk of disease related mortality”.
Copi founder Humphrey Milles said: “Air pollution is killing people across the country, and London is worst hit – but people don’t believe it will affect them personally.
“The Air Quality Rating is a tool to change these perceptions and show just how real, and dangerous, air pollution is across the capital, including in some of the wealthiest neighbourhoods.”
The push for price cuts in polluted areas is likely to worry London landlords, who are already facing a predicted drop of more than 6% in property values if the UK leaves the EU without a deal.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Saint Paul de Vence: a paradise for art lovers
The Week Recommends The hilltop gem in the French Riviera where 20th century modernism flourished
By Alexandra Zagalsky Published
-
'People in general want workers to earn a decent living'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
What might a Trump victory mean for the global economy?
Today's Big Question A second term in office for the 'America First' administration would send shockwaves far beyond the United States' shores
By Rafi Schwartz, The Week US Published
-
Pathfinder 1: world's largest aircraft unveiled in California
Speed Read Vast electric airship promises 'climate-friendly' transportation and humanitarian aid
By Chas Newkey-Burden, The Week UK Published
-
The cost of clean air: who will win the battle over low emissions zones?
Today's Big Question Debate has ‘turned toxic’ as legal challenge to expansion of London’s Ulez is heard
By Chas Newkey-Burden Published
-
Sounds of the city: should urban dwellers expect noise?
Talking Point Complaints put nightlife venues at risk but rising noise pollution threatens health and wellbeing
By Harriet Marsden Published
-
The end of the era of cheap flights
feature Drive to decarbonise airline industry risks pushing up prices for plane tickets
By Keumars Afifi-Sabet Published
-
Sport on TV guide: Christmas 2022 and New Year listings
Speed Read Enjoy a feast of sporting action with football, darts, rugby union, racing, NFL and NBA
By Mike Starling Published
-
House of the Dragon: what to expect from the Game of Thrones prequel
Speed Read Ten-part series, set 200 years before GoT, will show the incestuous decline of Targaryen
By Chas Newkey-Burden Published
-
One in 20 young Americans identify as trans or non-binary
Speed Read New research suggests that 44% of US adults know someone who is transgender
By The Week Staff Published
-
The Turner Prize 2022: a ‘vintage’ shortlist?
Speed Read All four artists look towards ‘growth, revival and reinvention’ in their work
By The Week Staff Last updated