Japanese knotweed is knocking £23,530 off the average property value in the UK, it has been revealed.
Japanese knotweed is one the toughest and fastest-growing plants in the world, growing underground to a depth of 3m, and spreading upwards to 7m.
The bamboo-like plant has been used as an ornamental plant since its introduction into Britain by the Victorians, but is now considered to be the UK’s most invasive and destructive plant.
New research from HaMuch.com suggests that knotweed is wiping £34.12bn off property values in the UK, equating to 10% or £23,530 per home. In London this average increase rose to £47,546, and £32,664 in the South East.
It is believed that around 5% of UK homes are affected by knotweed — that’s around 1,450,000 properties — and with the summer months approaching the knotweed epidemic is set to worsen.
Founder and CEO of HaMuch.com, Tarquin Purdie, commented: “Knotweed is a homeowner’s worst nightmare and there really is no DIY fix for this aggressive backyard vandal. It can take months on end to ensure it has been properly disposed of but can be more costly should you decide to turn a blind eye.
“The quicker you can get on top of the problem, the better, as a house with knotweed will not only drop in value but will also struggle to find a buyer.”
A Warning for Homeowners
The findings serve as a warning for those who have yet to deal with the knotweed in their garden or live next door to someone with the invasive plant.
With its fast-growing nature, Japanese knotweed will quickly get out of hand, and not only impact yours and your neighbours homes and gardens but also sour neighbourly relations pretty quickly.
As with all building projects, it is best to avoid false economies and this logic should be applied to the timely removal of knotweed too.