Half of the property experts polled by RICS believe homeowners just outside London's congestion charging zone are at risk of their homes dropping in value. The survey looked at how the proposed charging zone had already affected the housing market, and how they expect prices to react once the charge comes into force.
The results showed no noticeable change in rents and prices in the run-up to the introduction of the charge, but respondents believe that drivers seeking to avoid the charge will cause a surge in traffic in areas not normally affected by congestion. This could affect house prices in these areas.
Within the congestion charging zone chartered surveyors report no significant changes in house prices and rents to date, and as prices and rents are already steep in these central areas, surveyors do not expect there to be future changes as a direct result of the charge.
Louis Armstrong, RICS chief executive, said: "RICS is broadly in favour of congestion charging, but this survey echoes concerns already raised by us; that whilst the scheme may succeed in reducing traffic in Central London, it may have the reverse effect on the areas bordering the charging zone."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
