Supermarket knocks 10k off house prices
Estate Agents - 30/11/2006 10:13:25
Estate agents in Manchester have claimed that increased traffic from a nearby Tesco garage has sent property prices spiralling.
Residents of Lane End Road in Burnage have said that the opening of a 24-hour supermarket close to their homes has had a derisory effect on the value of their properties.
A recent survey by a couple on their home found that the value of their house had fallen by £10,000 since the store opened and estate agents have backed up their claim that the trend can be seen around the area. It is now valued at £90,000.
Diane Tooley, a sales consultant with Main & Main estate agents, told the South Manchester Reporter: "£90,000 is a low figure for a property of this type in this area.
"A similar house on the other side of Kingsway has been on the market for £140,000. The extra traffic on the road is probably the main cause of the fall in price."
As well as noise from increased traffic, residents have complained that light pollution, deliveries and extra people present in the area have had an adverse effect on property prices around the Tesco supermarket.
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