Now that the plans of the proposed route for the HS2 high speed rail link have been issued I am getting enquiries from clients about the impact it will have on the value of their properties. I have provided a link here, http://www.thisistamworth.co.uk/pictures/Maps-high-speed-railway-HS2-Tamworth-North/pictures-18058829-detail/pictures.html#axzz2KVV4f4vs , for people in the Tamworth area.
The housing market is a very efficient supply & demand market place and with this in mind I would expect those properties in the path of the line to become unsellable, while those in close proximity will be less desirable and so suffer from a fall in value. However, as the line is likely to take 20 years to complete then I would hope for a controlled under performance rather than a sharp shock.
Of course, this means that properties out of ear shot of the new trains are likely to become more desirable and, due to the limited supply, may outperform the market.