Property prices decline by 19.3% as a result of nuclear power plants

LONDON: While the government may have made nuclear energy a focus of last week's spring statement, research from estate and letting agents Barrows and Forrester has shown that areas due to host a nuclear power station could see the local real estate market go into meltdown, knocking almost a fifth off of property values. (Reported by news source)

Barrows and Forrester examined house prices in areas with nuclear power plants that are currently fully operational, how these areas compared to property values throughout the larger local authority, and what it might mean for the areas that are expected to be the sites of the next nuclear power plants.

Property values around the Torness power station are -17.6% less expensive than those in the rest of East Lothian, and prices are likewise less expensive near the Dungeness B (-14.6%) and Hartlepool (-14.5%) power stations.

The average decrease of -19.3% would subtract over £65,000 from the current average house price of £334,864 in South Gloucestershire's BS35 postcode if housing prices in these locations fell by the same amount.