There's no evidence that onshore oil and gas operations negatively impact local house prices.
Wytch Farm, western Europe's largest onshore oilfield, is situated in Purbeck, Dorset. Its wells extend horizontally under Poole Harbour and under some of the UK's most expensive homes at Sandbanks - but as far as we can tell, the nearby presence of oil and gas extraction has done nothing to cause house prices to fall.
You can say the same about homes in the Vale of Pickering in North Yorkshire, Britain's largest onshore gas field, which appear unaffected by the presence of several existing wellsites operated by Third Energy and the Knapton gas-fired electricity generating station.
Meanwhile, in Lancashire, a study carried out independently by respected real estate company Jones Lang Lasalle found no impact from the early test fracking by Cuadrilla conducted in 2011 at Preese Hall.
It seems that the suggestion house prices will be slashed is nothing more than overstated speculation.