The Government looks set to grant licenses for energy companies to explore up to 65 per cent of rural Britain in the search for underground natural gas.
That could see millions of people living in and around drilling sites lose up to 30 per cent off the value of their homes, including some of the country’s best known celebrities.
Fracking is a hugely controversial technique for extracting natural gas from under the ground. Critics have warned that the drilling destabilises the Earth and causes tremors and subsidence, which could damage people’s homes for miles around.
There have been reports of potential buyers pulling out of deals after discovering that fracking could take place nearby.
Despite this, the Government has granted exploration and drilling licenses to fracking companies near some of Britain’s most exclusive neighbourhoods and best-loved beauty spots.
A leading property expert has warned that if property prices slump by just two per cent in areas earmarked for drilling, the total cost to the UK economy would be £75 billion.