It has been in the news recently that the Airports Commission is calling for a third runway to be created at Heathrow Airport, in the London borough of Hillingdon. It is expected that the government will make a decision on the proposed expansion by the end of 2015. It is thought that this new runway would create up to 70,000 new jobs and bring an extra £147bn to the UK economy, but not everybody is happy about the proposal.
If the third runway goes ahead, this is bound to have an effect on London’s property market. Heathrow is the largest and busiest airport in the UK, and the flight paths are directly over some of the most densely populated residential areas of the capital. Many people have expressed their concerns about the traffic and noise pollution the extra runway would bring, and many London residents who live under the flight path are opposed to the development. There is also the issue that hundreds of homes would have to be demolished to make room for the new runway.
On the other hand, the employment opportunities it would bring to the area could be highly beneficial for many people, including residents, landlords and property investors. It would also help to ease delays at Heathrow and preserve its position as one of Europe’s premier airports. It seems that there are numerous pros and cons on both sides of the argument.
We will watch with interest to see if this new runway goes ahead and what it will mean for London’s property market. As we specialise in lettings, property management and council leasing in Hillingdon and across the entire capital, you can rest assured that we will be there to help you through the possible changes in the property market and ensure that you can make the right decisions with your investments.