Residents of Leiston, a town in Suffolk, are voicing concerns that the construction of the Sizewell C nuclear power plant will drive up local rental prices and push them out of their homes. As the development progresses, with a workforce of 7,900 expected by 2031, rents have soared, with some family homes now costing upwards of £3,000 a month, double previous prices.
Leiston Faces Rental Surge Amid Sizewell C Construction
Sizewell C, a massive nuclear power plant development, is having an unexpected side effect on Leiston’s housing market. Local residents report significant rent hikes, with one sales negotiator noting that properties once rented for £1,500 a month are now priced at £3,000. The surge is largely attributed to the influx of workers for the nuclear plant, many of whom are relocating from outside the area.
Linda Druce, a local estate agent, confirmed the trend. “For the first time in 21 years, we’re seeing such a drastic jump in rental prices,” she said. “The demand from Sizewell C contractors and workers is driving these increases, and local property owners are cashing in.”
Local Renters Concerned About Affordability
With property prices on the rise, long-term residents are anxious about being priced out of the area. “Landlords are capitalizing on the situation,” said Louise Smith, a local resident. “Rent prices are soaring, and it’s only going to get worse.”
Residents in Leiston, traditionally known for its affordability compared to nearby towns like Aldeburgh and Southwold, are finding it increasingly difficult to secure affordable housing. Wenge Yuan, a local tenant, shared his frustration: “My landlord plans to raise my rent significantly when I move out, and it’s becoming harder to find anything within my budget.”
Concerns Over Local Housing Market and Increased Competition
The rapid rise in rents is causing unease among local tenants who fear displacement. Luke Vale, a local estate agent, emphasized the issue, noting that many landlords are turning to the buy-to-let market, renting out properties by the room to capitalize on the demand.
While the local council is offering housing grants to residents who want to rent out spare rooms, this has done little to quell the concerns of long-term tenants. John Steven, another local, expressed his frustration: “The rates have gone up so much that it’s impossible for me to afford anything in Leiston anymore. People who don’t work for Sizewell are being pushed out of the area.”
Sizewell C’s Economic Impact on Leiston’s Housing Market
The £20 billion Sizewell C project, partly funded by EDF, promises significant economic benefits, including creating up to 70,000 jobs and providing energy for six million homes. However, the development has also put a strain on the housing market in Leiston, with many local families struggling to keep up with rising rents.
Despite these challenges, Sizewell C’s developers and local authorities are working together to minimize negative effects on the housing market. A spokesperson from East Suffolk Council acknowledged the concerns: “While we can’t control the rents charged by private landlords, we’re committed to working with Sizewell C and the community to mitigate these impacts.”
Looking Ahead: The Future of Leiston’s Housing Market
As the development of Sizewell C continues, local residents are left navigating a rapidly changing housing market. Many are worried that the increasing cost of living will force them to leave the town they’ve called home. With construction expected to run until 2031, the future of Leiston’s housing market remains uncertain, leaving residents to wonder whether they will still be able to afford to stay.
