HS2 has been dominating the news in recent days and with the announcement that the northern leg has been scrapped, homeowners across the country have been left wondering what this will mean for them and their properties.
But what does this mean for the property that has been bought and demolished in order to make way for this high-speed rail line?
In this article we are going to look at HS2 property, how many properties have been demolished for the HS2 project, and what it means for homeowners and property prices uk.
Looking for a quick answer? Check out the interactive menu below!
- What is HS2?
- What is HS2 property?
- Will HS2 affect my property?
- Will HS2 buy my house?
- How many homes destroyed by HS2?
- Will HS2 affect my house price?
- Will I get compensation from HS2?
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What is HS2?
Before we look at how HS2 property has been affected, we will first look at what HS2 is. When HS2 was introduced to the public, it was touted as the biggest infrastructure project in the UK as part of the Northern Powerhouse initiative, that was going to transform transport as we knew it between London, the Midlands, and the North. However, 15 years later, the process has been fraught with delays, ever-rising costs, and disappointment.
Following Rishi Sunak’s announcement at the Tory Party conference on Wednesday, the northern leg of the railway has been axed leaving the line significantly shorter than originally promised. The line was originally supposed to be 330 miles long, linking London to Birmingham with further phases carrying passengers to Crewe, Manchester, and Leeds.
What is HS2 property?
HS2 property is a property that has been demolished or bought by the government in order to make way for HS2 railway. Exactly how much land and property has been bought and demolished in order for the railway to be complete is still unknown. After the axing of HS2’s northern leg, 1,000 homes and buildings bought as HS2 property have been left hanging in the balance. Exactly what the government plans to do with the properties it has purchased remains yet to be made clear.
Will HS2 affect my property?
As we have previously mentioned, the recent scrapping of the second phase of HS2 means that many homeowners have now found themselves in a sort of property limbo. If you live between Crewe and Manchester, then your property may no longer be in danger of being affected by HS2, however, should another government decide to revive the project you may find yourself back where you started. If your property lies on the route between London to Birmingham, then you may not be so lucky. This section of the railway is already under construction and is planned to take place between 2029 and 2033.
Will HS2 buy my house?
In order to see if your land or property is affected by the construction, you will need to check if your property is:
- in the safeguarded area
- in the rural support zone
- in the homeowner payment zone
- outside the zones
From here you will be able to figure out your plan of action. There are property schemes available, so you may be able to sell your some to the government at its market value, or alternatively, you may be able to receive a lump-sum payment if it is near the proposed route.
HS2 property schemes
There are currently four HS2 property schemes underway. These are:
- Safeguarded Area and Extended Homeowner Protection Zone– If you are affected, then you can apply for either ‘Need to Sell Scheme’ or the ‘Express Purchase Scheme’.
- Rural Supporter ZoneIf you are affected, you will be able to apply for either the ‘Need to sell scheme’ or the ‘Cash Offer or Voluntary Purchase Scheme’.
- Homeowner Payment Zone– This will only apply so far if you are affected by Phase 1 or Phase 2a. You will be able to apply for the Homeowner Payment Scheme.
- Beyond– If your property has been affected but it’s either not covered by a scheme or is outside the zones and safeguarded area, then you can apply for the ‘Need to Sell Scheme’.
Under these schemes, you will be able to sell to the government and apply to rent and continue living in the property.
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How many homes destroyed by HS2?
There is no straightforward answer to this question, with half of the rail line being scrapped houses that were due to be destroyed are now on hold.
As it currently stands, the Government has more than £423m on buying hundreds of properties and land for the now-scrapped Birmingham to Manchester leg of the route.
As far as Phase 1 is concerned, the government has demolished 900 homes, 1,000 buildings and around 60 ancient woodlands to make way for the rail line.
How much has HS2 spent on property?
If your property lies further than Birmingham, then your property will no longer be in danger of being affected by the high-speed rail line due to the recent scrapping. Instead, the focus is now turning to the £600m of public money that has been spent on properties in the north which will now no longer be used.
Just over 2.8bn has been spent on buying 920 properties for phase one, which totals an average of £304,348 a property.
According to data from HS2 Ltd and The Guardian, the following has been spent on property:
Phase 1(London to Birmingham) – £2,813,121,282, of which £1,534,246,598 was bought via compulsory purchase order (CPO).
Phase 2a(Birmingham to Crewe) – £219,312,214, of which £25,800,939 was bought via CPO.
Phase 2b west(Crewe to Manchester) – £203,694,310 (blight/discretionary only).
Phase 2b east(Birmingham to Leeds) -£163,958,319 (blight/discretionary only).
How many properties has HS2 acquired?
- Phase 1:920
- Phase 2a:239
- Phase 2b west:185
- Phase 2b east:530
Will HS2 affect my house price?
The scrapping of HS2 has left in its wake a lot of uncertainty. Those whose houses were in the proposed path can heave a sigh of relief for now, however, should a future government decide to resurrect those plans they may find themselves back where they started.
If your property is situated along or near the construction of phase 1, then HS2 will undoubtedly affect your property price. If your home is on the route, then you may have to sell to the government and move elsewhere. If your property is situated nearby, then you may find your house price fluctuates. This could be a particular issue if you decide to sell during the construction period, as disruption could cause your price to drop. However, once construction is complete you may find that being within walking distance of the line could see your house price rise.
Will HS2 affect my house price?
If your property has been negatively affected by the operation of HS2, then you may be able to make a claim in order to receive compensation. This claim will be referred to as a Part 1 Claim, under Part 1 of the Land Compensation Act 1973. However, if you decide to claim, it can only be done up to 12 months after the completion date.
This covers everything you need to know about the HS2 property effect. If you have any further questions, queries or insight into the matter, please feel free to get in touch!