STANSTED: House prices will rise because of expansion (From Bucks Free Press)

STANSTED: House prices will rise because of expansion

2:33pm Thursday 18th December 2003 in News By Guardian reporter

LOCAL house prices are set to rise following the announcement that Stansted is to get a second runway within ten years, a local estate agent has claimed.

Mullucks Wells senior partner Tony Mullucks says that for some it will be a disaster.

"Of course the news is devastating for people living in the proposed expansion zone, whose properties are going to be directly affected.

"It's also very bad news for those living near the new perimeter fence or under the new flight path."

But he stresses that for everyone else in the area, the decision means the demand for housing will increase, pushing up local house prices.

He said: "You have to remember that very few people have moved out of the area because of aircraft noise. Many more have moved in because of the convenience of the transport links. That's something people tend to forget." "After all, this is an announcement which comes as no great surprise. At least now the cloud of uncertainty has been lifted. For the first time in years locals know where they stand, and homeowners can start to plan ahead for the future."