FOI release

HS2: property bonds impact on housing markets

Response about the possible impact of property bonds on the housing market with respect to the high speed rail development.

Documents

HS2 property bonds impact on housing markets: Freedom of Information response letter, July 2014

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CBRE email: property bonds

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HS2 property bond: cost report

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Details

Freedom of Information response regarding the information and data used to calculate the possible impact of property bonds, and subsequent decision not to implement a bond scheme, may have had on the housing market for homes within the High Speed 2 area.

The original request asked for copies of all:

  • data regarding the impact of a property bond on the operation of the housing market
  • advice given regarding the impact of a property bond on the operation of the housing market

The response states the:

as contributing along with the HS2 property bond cost report and an redacted email from CBRE regarding this subject.

Background information on the response documents

Information and advice received from CBRE and PWC regarding the property bond proposed in the Department for Transport’s Property Compensation Consultation 2013 for Phase One of HS2. In order to get the HS2 compensation package right, it was necessary to plan using assumptions about a range of factors, including scheme up-take, average property values, and the level of blight. The figures contained in these documents are not predictions about blight, they are illustrative assumptions for assessing the relative cost of different combinations of property compensation schemes. We have already announced compensation and assistance schemes that go well beyond legal requirements and offer an effective means of helping people with blight, with measures applicable to residents in all of the proximities displayed in the documents

Published 8 July 2014