RICS Knowledgebase

In RICS guidance

There are only a few formal mentions of pylons in RICS Valuation guidance. 
One is within Section 4.3 of the new build homes guidance available at https://www.rics.org/content/dam/ricsglobal/documents/standards/valuation_of_individual_new_build_homes.pdf

The valuer would be expected to note the existence and proximity of the presence of a pylon within their inspection and where possible obtain comparable evidence of properties in similar circumstances in order to make suitable adjustments.

And 5.10.3 of the Technical Due diligence for commercial property https://www.rics.org/profession-standards/rics-standards-and-guidance/sector-standards/real-estate-standards/technical-due-diligence-of-commercial-property

electromagnetic fields due to proximity to electrical substations or pylons, mobile phone masts or satellite transmitters

Lenders

It is not unusual for a lender to have their own policies based on their experiences of the market, particularly if they are well known in a particular area, and as they instruct the valuers sometimes where the source of the policy has come from can be unclear to a typical buyer. 

Research & commentaries

the London School of Economics (LSE) did some research in 2023 and their report indicates that houses within 300 metres of new pylons sell for 10% less on average than those more than over 1.5km away. The influence of a pylon decays with distance but can be detected upto about 1.2km, on average houses sell for around 3.6% less within 1.2km than beyond that distance: https://blogs.lse.ac.uk/businessreview/2023/09/25/what-can-house-prices-tell-us-about-the-environmental-costs-of-overhead-power-lines/

This discussion in September 2024 took place on the myRICS community and covers a wide range of comments including from someone in Spain https://community.rics.org/question/pylons-electromagnetic-fields

#Valuation

#Pylons