A low traffic neighbourhood monitored with cameras.
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Low Traffic Neighbourhoods have been implemented to reduce noise and accidents in pedestrian and residential areas around cities just like London.
Why were Low Traffic Neighbourhoods introduced?
They have been working in London since the 1970s, first implemented to reduce traffic in certain areas.
After the pandemic, the Mayor of London decided to introduce the LTN as a temporary solution to social distancing and safer commutes throughout the city.
The first London areas to set LTNs were Camden, Islington, Croydon, Ealing, Hounslow, Lambeth, Newham and Waltham Forest.
Achievements of Low Traffic Neighbourhoods
Islington Council reported significant benefits in traffic reduction and pollution. To the point of making the LTN in Highbury permanent.
Councillor Rowena Champion, Islington Council’s Executive Member for Environment, Air Quality, and Transport, said: “Three years on, it’s clear that the schemes have delivered huge successes. Traffic has fallen in neighbourhoods and on surrounding roads. It’s easier for local people to enjoy the mental and physical health benefits of exercise, and air quality has improved”.
However, recent publications on the internet claim that the implementation of LTNs in some areas is affecting the properties value. Properties in Oval and South Lambeth, lost almost 20% in value.
CREDIT: Carlo Virgilio Morales Del Rio- The restricted areas are equipped with cameras to automatically send fines to those who are not exempt.
City News research found that although the majority of the residence’s value has decreased, figures from Land Registry and market valuations show that a flat with 2,153 square feet, sold originally in 2003 for £570,000, increased by 233.3% in 2020. This went down by 8.8% in 2023.
CREDIT: Carlo Virgilio Morales Del Rio- The graph shows the market prices for, all properties, houses and flats in South Lambeth
Low Traffic Neighbourhoods and property value declining
The reason why the prices have decreased might not be directly related to LTN but to the cost-of-living crisis.
Lucian Cook, Head of Residential Research, Savills said: “So we are seeing some reduction in house prices. Even in London and in the home counties where it is typically very expensive.
Quite a bit of conflicting data regarding the state of the housing market. A bit more insight from the @TwentyCi data here. Activity levels much more like a normal pre-pandemic market in November, but price adjustments still pretty widespread. pic.twitter.com/RdKb2rvfsP
“Despite prices falling by less than predicted, homeowners need to know why and how the cost of living will affect prices in London and across the UK”.
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Standfirst
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HeadlineLow Traffic Neighbourhoods not cause of property devaluation
Short HeadlineAre LTNs as effective as the councils claim?
StandfirstPublications claim that properties around LTN lost almost 10% in market value
Low Traffic Neighbourhoods have been implemented to reduce noise and accidents in pedestrian and residential areas around cities just like London.
Why were Low Traffic Neighbourhoods introduced?
They have been working in London since the 1970s, first implemented to reduce traffic in certain areas.
After the pandemic, the Mayor of London decided to introduce the LTN as a temporary solution to social distancing and safer commutes throughout the city.
The first London areas to set LTNs were Camden, Islington, Croydon, Ealing, Hounslow, Lambeth, Newham and Waltham Forest.
Achievements of Low Traffic Neighbourhoods
Islington Council reported significant benefits in traffic reduction and pollution. To the point of making the LTN in Highbury permanent.
Councillor Rowena Champion, Islington Council’s Executive Member for Environment, Air Quality, and Transport, said: “Three years on, it’s clear that the schemes have delivered huge successes. Traffic has fallen in neighbourhoods and on surrounding roads. It’s easier for local people to enjoy the mental and physical health benefits of exercise, and air quality has improved”.
However, recent publications on the internet claim that the implementation of LTNs in some areas is affecting the properties value. Properties in Oval and South Lambeth, lost almost 20% in value.
CREDIT: Carlo Virgilio Morales Del Rio- The restricted areas are equipped with cameras to automatically send fines to those who are not exempt.
City News research found that although the majority of the residence’s value has decreased, figures from Land Registry and market valuations show that a flat with 2,153 square feet, sold originally in 2003 for £570,000, increased by 233.3% in 2020. This went down by 8.8% in 2023.
CREDIT: Carlo Virgilio Morales Del Rio- The graph shows the market prices for, all properties, houses and flats in South Lambeth
Low Traffic Neighbourhoods and property value declining
The reason why the prices have decreased might not be directly related to LTN but to the cost-of-living crisis.
Lucian Cook, Head of Residential Research, Savills said: “So we are seeing some reduction in house prices. Even in London and in the home counties where it is typically very expensive.
Quite a bit of conflicting data regarding the state of the housing market. A bit more insight from the @TwentyCi data here. Activity levels much more like a normal pre-pandemic market in November, but price adjustments still pretty widespread. pic.twitter.com/RdKb2rvfsP
“Despite prices falling by less than predicted, homeowners need to know why and how the cost of living will affect prices in London and across the UK”.
