Crime maps online will de-value your property by 83%

Posted on September 10th, 2008 by Mike Carter

At least that is what THEY would like you to believe :-)

There is an interesting debate happening over on the House Price Crash website. Basically, home owners are up in arms about a recently launched map service from the Met Police in London whereby anyone can view ‘crime stats’ for their borough.

Why is this such a threat to the home-owner?

The internet is basically the biggest depository of information ever devised by man. As a result, we are all empowered to be able to do property research in a much more efficient manner. I read somewhere that the average consumer in the UK does an average of 12 hours of online research when looking for property. Do home-owners actually believe in 2008 that they will be able to ‘hide’ the unsavory bits about their property’s location?

Whether it comes from the internet, from the council or directly from speaking to your knowledgeable estate agent, the buyer is going to find out everything they can before starting that mortgage paperwork. This includes how safe your neighborhood is in comparison to other areas of interest.

Maybe home-owners should consider what they can do to ‘clean-up’ their neighborhood ( get invovled ! ) rather than fight the unstoppable force for transparency that is the web.

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2 Responses to “Crime maps online will de-value your property by 83%”

  1. clerkenwell estate agents, on September 22nd, 2008 at 9:43 am Said:

    Yes, you are correct . The average of an U.K person will do research on the internet regarding property is 12 hours to know what are the diferrent rates of the home, types of houses the sellers were selling, how is the style, how is the quality, is there any repairs, is there any mortgages etc. All this factors will be considered by the buyer , but as of now the prices of the houses were crashing . No, one was unable to predict when it gonna sotp due to increase in the prices of construction material not only construcion prices even increase in taxes etc. All this worries the house owners.

  2. uncommonadvice, on October 8th, 2008 at 11:58 pm Said:

    I wouldn’t worry about it if my area looks bad on stats like these. The vast majority of house purchases are made by locals - they’ll know the score.

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