May 18, 2023 5.00 pm This story is over 10 months old

Scampton house prices ‘could fall by 10%’ due to asylum seeker plans

But there could be good news in the long run

By Local Democracy Reporter

The proposed conversion of RAF Scampton into a migrant camp is estimated to bring the value of properties around the area down by 10%.

The Home Office’s plans to house up to 2,000 asylum seekers at the former RAF base has left villagers worried about the impact on their properties.

After West Lindsey District Council failed to secure an injunction to block the plans from going ahead, one man, who wanted to remain anonymous, said: “I’ve lost all the value in my house already and it’s not even happened yet.

“It’s taken away our future because we can’t go anywhere, we’re stuck.”

Lincoln-based estate agents Burnett & Lee Property Consultants have warned that the development may lead to significant depreciation unless future legal challenges prove successful.

Founder and Managing Director Neil Arnold said: “The reduced demand in the area can be attributed to two main factors. Firstly, with the military no longer requiring personnel to reside in the vicinity, there will be a decline in the need for housing in Scampton.

“Secondly, existing residents may exhibit decreased interest in residing in an area hosting an immigration centre.

“As a consequence, the ability to sell properties at the highest prices in Scampton may be affected, potentially resulting in a depreciation of up to 10% for the area.

Part of the delayed vision for RAF Scampton. | Image: SHL

“However, it is worth noting that the majority of individuals who have viewed properties in the region do not perceive the presence of the immigration centre as a deterrent.

“Instead, the overall lack of interest and reduced viewings have primarily contributed to the diminished demand.”

Despite residents’ concerns, Arnold believes that the situation presents an opportunity for potential buyers, as there is the possibility the council could still proceed with their £300 million heritage, enterprise and tourism project once the migrant camp is closed after three years.

He continued: “If the prices do indeed decrease and morph into a more affordable range per square meter, it could be a favourable investment prospect.

“The current situation might act as a hedged bet, as it is possible that the conversion of the former RAF camp into an immigration centre will ultimately lead to the creation of additional buildings.

“This, in turn, could pave the way for a £300 million heritage and tourism centre, which has previously been proposed.”

Under the council’s ambitious development, the base would continue to act as an operational airfield and would bring thousands of highly-skilled jobs to the area.

Leaders called it a “landmark deal” which would preserve, protect and enhance the site by providing aviation heritage, business, aerospace, space and aviation technology and education opportunities.

“The development of such a centre would likely increase desirability in Scampton and the surrounding areas, potentially leading to an upturn in property prices, and even a rebound to a higher valuation per square meter,” added Neil.

“The feasibility and details of the £300 million heritage and tourism centre are still under scrutiny. However, if it does move forward with this investment, whether higher or lower, it is expected to generate a greater desire among individuals to reside in Scampton and its surroundings.

“This could result in an upward trajectory for property prices, possibly exceeding the current valuation per square meter.”

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