Half of all property experts polled believe that homes on the fringes of the London congestion-charging zone are at risk of dropping in value.
The RICS surveyed its members on whether the proposed charging zone has already affected the housing market, and how prices would react once the charge starts on 17 February.
Members said that rents and sale prices had not noticeably changed in the run-up to the charge.
But the majority believe drivers seeking to avoid the charge will cause a surge in traffic in areas not normally affected by congestion. They argued that 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.
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.”
References: EGi News 12/02/03
