Twenty Twenty Vision - Delving into Data 40: Potential UK spaceport locations

Recently NASA have successfully landed their Insight Spacecraft on the surface of Mars, which will go on to explore the planet's uncharted interior. The UK could potentially follow suit with Spaceports set to be built in the UK in the next few years. 

The areas being considered for the new site are: Sutherland, Glasgow, North Wales and Cornwall. Sutherland is the first area to be awarded the grant and plans are stepping up for the build. So if you've ever fancied watching a space shuttle launch from your back garden, you might want to consider one of these areas for your next home.  For this edition we've therefore decided to look into the property market in those four areas. It would be interesting to compare once the location(s) have been confirmed and the sites built, as to what impact this has on the local market. 

In Cornwall the current average price is £319,167 with 3,307 houses on the market. The average time on market is 150 days.

Glasgow is the second option currently being considered. The average current asking price there is £177,470 with 5,079 houses currently on the market. The average time on market is 94 days. 

When comparing the two areas, Glasgow is the cheaper location to purchase a property, at £141,697 less than Cornwall. It's time on the market is also lower, suggesting properties are more in demand. 

Sutherland, North of Scotland is the first area to actually receive the government grant so far. The average current asking price for houses in the area is £165,797 with 123 houses on the market. This is a significantly smaller proportion of houses for sale than Cornwall or Glasgow. The average time on market is 199 days.

In North Wales, the average current price is £220,498 with 5,322 houses on the market. The average time on market is 211 days.

When comparing the four areas, the data suggests that Sutherland is the cheapest location to purchase a property, £11,673 less than Glasgow. The most expensive is Cornwall (£319,167) and North Wales comes in second place. As the plans progress for the Sutherland location in particular, it will be interesting to see how house prices in the area are impacted. 

To read more of our Delving Into Data property insight posts, click here.

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