Could a coal-free nation dent power plant house price performance?
On average, property prices surrounding the nation’s power plants command 17% more than the wider areas they are located within, according to the latest property market analysis by GetAgent.
A drive for renewable and sustainable energy sources seems to have energised house prices surrounding on-shore wind farms in England and Wales the most.
On average, the cost of living around a wind farm is £256,369, 53% higher than the wider area averages in which these plants are located.
House prices surrounding coal power stations are 19% higher than the wider area average; the second-largest power plant price premium.
Property prices surrounding natural gas (16%) and oil-diesel (11%) plants are also home to a double-digit difference between the surrounding property market and the wider area. At 1%, biomass plants are home to the lowest power plant house price premium.
With Britain recently registering its longest coal-free period on record our use of more traditional energy sources could be set to disappear. Should this happen, house price growth across sites home to a traditional fuel power plant could also start to lose power.
This may already be the case on an annual basis with house price growth down across all power station locations in the last year, except onshore wind farms (+1%).
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Power plant house prices and annual change
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Energy type
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Average House Price: Power Plant Postcodes – 2019
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Average House Price: Power Plant Postcodes – 2020
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Annual Change
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Oil-Diesel
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£274,732
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£274,078
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-0.2%
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Natural Gas
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£247,527
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£241,242
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-3%
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Coal
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£227,966
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£223,536
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-2%
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Nuclear
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£210,683
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£206,017
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-2%
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Biomass (all types)
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£216,769
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£207,411
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-4%
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Wind (on shore)
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£253,644
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£256,369
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1%
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Average
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£238,554
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£234,776
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-2%
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Current power plant house price compared to wider area
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Energy type
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Average House Price: Local Authority – 2020
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Average House Price: Power Plant Postcodes – 2020
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Percentage Difference
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Oil-Diesel
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£247,897
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£274,078
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11%
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Natural Gas
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£207,964
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£241,242
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16%
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Coal
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£188,507
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£223,536
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19%
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Nuclear
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£189,856
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£206,017
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9%
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Biomass (all types)
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£205,991
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£207,411
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1%
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Wind (on shore)
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£167,933
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£256,369
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53%
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Average
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£201,358
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£234,776
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17%
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