Property price meltdown of 19.3 % due to nuclear power stations

Barrows and Forrester analysed house prices in areas currently home to a full operational nuclear power station, how these areas compared to property values across the wider local authority and what it could mean for the locations that have been earmarked as the next nuclear power station sites. 

The research shows that there are currently six operational nuclear power stations across the UK, located in Folkestone and Hythe, Hartlepool, Lancaster, East Suffolk and East Lothian. 

On average, house prices in postcodes home to these nuclear power stations average £212,405, 19.3% or £50,902 less than the average of £263,308 across the wider local authorities in which they are situated. 

However, there are currently no less than five other areas of the UK earmarked for a nuclear power station, four currently under proposal - Oldbury, Bradwell B, Sizewell and Wylda Newydd - while Hinkley Point C has already begun construction. 

Managing director of Barrows and Forrester, James Forrester, commented: “In last week’s spring statement, the government made it clear that nuclear energy would be a primary focus when it comes to powering the nation. While it may well be needed, further nuclear sites could come at the detriment to homeowners in the immediate vicinity, with property values surrounding current nuclear power stations commanding around a fifth less than the wider market. 

This is no doubt down to the public’s perception that living close to a nuclear site is not only a potential eyesore, but also poses a potential risk. 

Of course, today this risk is likely to be miniscule and so those who may be struggling with the high cost of homeownership may find that a nuclear house price discount is well worth it if it means they can climb the ladder.”