Buncefield Oil Disaster
Communities and Local Government
Charles Walker (Broxbourne, Conservative)
To ask the Secretary of State for Communities and Local Government what assessment her Department has made of the impact of the Buncefield oil disaster on local property values; and if she will make a statement.
Angela Smith (Parliamentary Under-Secretary, Department for Communities and Local Government; Basildon, Labour)
The effects of the Buncefield incident on house prices were reviewed by GO-East in July 2006. Local estate agents reported that there had been little or no decrease in house sales and value. Research carried out by Lambert Smith Hampton has found that there continues to be a strong demand for commercial properties in the area and does not expect the market to be affected in the future.