Weeds on my land...legal warning & effect on valuation

[chiefmegawatty]

Resulting from my sower experience ragarding buying land in the UK I have come to some conclusions. A friend of mine bought a similar size plot of land in Portugal 19 years ago for £15,000. His land is now valued at over £80,000.

I bought my plot of land in Wiltshire 12 years ago for £10,000 and it's now valued at £6,850. Lesson learnt. Never buy land in the UK as it's a looser.Land in Portugal is a far better investment. Strange how the house prices in the UK are so high knowing that land in Portugal is worth much more and their house prices are much lower. I always thought that land value was related to house prices, but I have been proved wrong.

[chiefmegawatty]

My friends plot of land in Portugal is difficult to get to and requires a 4 wheel drive vehicle as it is very remote from any city or village.

There is no gas, electricity or sewerage anywhere near.

My land in Devizes has existing build on three sides, local gas, electricity and sewerage services but is worth far less.

I am confused how land is valued.

[p3t3r]

perhaps the land company who sold you the land originally sold it to you at a highly inflated price? or a price higher than the actual value?

 

looking at the map you gave earlier in the thread, it would seem that the land company buys a large area of land and then splits it up into smaller plots.

 

also, maybe ragwort decreases your land value? i do know that japanese knotweed decreases land value as well as other problems such as some mortgage companies will not provide a mortgage if there is japanese knotweed. some insurance companies will not provide insurance if there is japanese knotweed. since you have ragwort on your land which can be considered as a poisonous plant to cattle and humans, then this may decrease the price of your land further?

[steampowered]

Resulting from my sower experience ragarding buying land in the UK I have come to some conclusions. A friend of mine bought a similar size plot of land in Portugal 19 years ago for £15,000. His land is now valued at over £80,000.

I bought my plot of land in Wiltshire 12 years ago for £10,000 and it's now valued at £6,850. Lesson learnt. Never buy land in the UK as it's a looser.Land in Portugal is a far better investment. Strange how the house prices in the UK are so high knowing that land in Portugal is worth much more and their house prices are much lower. I always thought that land value was related to house prices, but I have been proved wrong.

 

Purchasing an unproductive asset (such as land or gold) is not smart unless you truly know what you are doing, as you do not have any income to fall back on if your gamble turns out to be wrong. If you want to invest I would suggest putting your money into a FTSE tracker.

[chiefmegawatty]

perhaps the land company who sold you the land originally sold it to you at a highly inflated price? or a price higher than the actual value?

 

looking at the map you gave earlier in the thread, it would seem that the land company buys a large area of land and then splits it up into smaller plots.

 

also, maybe ragwort decreases your land value? i do know that japanese knotweed decreases land value as well as other problems such as some mortgage companies will not provide a mortgage if there is japanese knotweed. some insurance companies will not provide insurance if there is japanese knotweed. since you have ragwort on your land which can be considered as a poisonous plant to cattle and humans, then this may decrease the price of your land further?

 

About 12 months after I bought my plot, similar size plots were changing hands at

£30,000 !! However as the years progressed the value slowly dropped.

This was many years before the weeds issue raised it's ugly head.

Regarding Japanese Knotweed, I have read that it can be killed with household bleach.

[Guest]

not sure about bleach! cld try weeing on it after a good night out involving a few harsh beers/spirits and a dodgy kebab

 

'Perhaps the most effective and simplest method for the home gardener to tackle Japanese knotweed is with the glyphosate-based weedkiller Scotts Roundup Tree Stump & Rootkiller.'

 

but

 

'It usually takes at least three to four seasons to eradicate Japanese knotweed using glyphosate. Professional contractors, however, will have access to more powerful weedkillers that may reduce this period by half'

 

https://www.rhs.org.uk/advice/profile?pid=218

[caro]

I believe Japanese knotweed is notoriously hard to get rid of and can even prevent building where it's present, so can well imagine that having an impact on the value of land if it is on there.

[chiefmegawatty]

I am very confused regarding land values on the site where I bought my plot.

Allegedly all the plots are infested with Ragwort.

However, here is a link to the English Land Agency website that lists plots up

for sale. http://www.englishlandagency.co.uk/location.asp?Location=85

 

One plot that is smaller than mine is up for sale for over a quarter of a million pounds!

I don't smell Ragwort, I smell a financial Rat !

[Guest]

ragwort or knotweed?

loads of info on that rhs site i posted, re both, and all.

[Ethel Street]

I am very confused regarding land values on the site where I bought my plot.

Allegedly all the plots are infested with Ragwort.

However, here is a link to the English Land Agency website that lists plots up

for sale. http://www.englishlandagency.co.uk/location.asp?Location=85

 

One plot that is smaller than mine is up for sale for over a quarter of a million pounds!

I don't smell Ragwort, I smell a financial Rat !

 

 

Don't land values leap when planning permission for housing is granted? Without planning permission it just has agricultural use value? Could that be it?

[chiefmegawatty]

Yes you are correct in saying that the value leaps with planning permission.

With planning permision the land becomes worth one third of the value of the

houses that are built on it.

Interesting to note that the plot for sale for £250,000 hasn't got planning permision.

I suspect the high price is to deter any buyers because planning permission is

just around the corner. You may wonder why the owner of that plot simply doesn't take

it off the market. That's because the owner has paid Gladwish money to offer it for sale

on their website and has since decided to keep the plot due to the high chance of planning permission being granted in the near future. The granting of full planning permission for a nursing home in field 13 is bound to greatly increase the chances of adjacent plots obtaining planning permission in the near future.

[Guest]

but you said they have ragwort, not knotweed! is yours the only one with knotweed?

[AndyOrch]

I thought this thread was about ragwort not land values?

[chiefmegawatty]

but you said they have ragwort, not knotweed! is yours the only one with knotweed?

 

Knotweed was never mentioned in the letter from Natural England.

Therefore it's not relevant to this weeds issue thank goodness.

[chiefmegawatty]

I thought this thread was about ragwort not land values?

 

Sorry Andy, I have digressed from the original subject of the thread.

Perhaps I could start a new thread about land valuation.

[AndyOrch]

Sorry Andy, I have digressed from the original subject of the thread.

Perhaps I could start a new thread about land valuation.

 

No need Chief I have amended your thread title to incorporate the various issues connected.

 

Regards

 

Andy

[chiefmegawatty]

No need Chief I have amended your thread title to incorporate the various issues connected.

 

Regards

 

Andy

 

Thanks Andy for doing that.

Much appreciated.

[Guest]

Knotweed was never mentioned in the letter from Natural England.

Therefore it's not relevant to this weeds issue thank goodness.

 

ok, knotweed seemed to have crept in, like it does

 

ie then as per the link i posted, https://www.rhs.org.uk/advice/profile?PID=299

 

'The Weeds Act specifies five injurious weeds: common ragwort, spear thistle,creeping/field thistle, broad-leaved dock and curled dock. The Ragwort Control Act 2003 (which amends the Weeds Act 1959), imposes a duty of responsibility on landowners to effectively control Senecio jacobaea, preventing its spread onto grazing land.

Full guidance on the various options as detailed in the Code of Practice appended to the Ragwort Control Act 2003 is available online...'

 

glyphosate still seems an option re control 're small infestations'. (but have you tried the wee option )