X

Cookies

Continue We want you to get the most out of using this website, which is why we and our partners use cookies. By continuing to use this site, you are agreeing to receive these cookies. You can find out more about how we use cookies here.
 

Wednesday, 16 April 2014

Carlisle airport revamp will boost house prices

The redevelopment of Carlisle Airport could provide a much-needed boost to house prices, Stobart boss Andrew Tinkler claims.

He believes that the company’s expansion of Southend Airport in Essex is partly responsible for property boom there.

A recent Halifax survey named Southend as the town with the fastest-rising house prices in the UK.

Average prices rose by 14.8 per cent in the year to November.

In contrast, Carlisle saw the fourth sharpest drop in prices – a fall of 9.3 per cent over the same period.

Mr Tinkler said: “The fact that house prices in Southend have strengthened more than any other town in the UK is testament to the social and economic benefits a regional airport can bring to an area.

“I believe the same thing can happen in Cumbria with the development of Carlisle Airport adding value for home owners and contributing to inward investment and the economic regeneration of the region.”

Stobart Group’s plans for Carlisle Airport are due to go back before city councillors on January 25.

The company wants to build a 394,000sq ft freight distribution centre and resurface the runway in readiness for daily passenger flights to London Southend and Dublin.

Objectors have argued that developing the airport would reduce house prices in nearby Irthington.

But Stobart produced figures to support an earlier planning application that suggest the opposite is true.

House prices for the CA4 postcode, which includes Carlisle Airport, rose 80 per cent between 2000 and 2007.

That increase was dwarfed by the 131 per cent rise in the area around Blackpool Airport, 189 per cent around Newquay Airport in Cornwall, and 233 per cent in the vicinity of Doncaster Airport in Yorkshire.

Objectors to proposed expansion of Newquay blamed the airport for pushing up house prices because it made it easier for second-home owners based in London to make weekend visits.

Adrian Hogarth, of estate agents Cumbrian Properties, believes there is merit in Stobart’s argument that a functioning airport would boost house prices.

He said: “If people can fly to Carlisle and spend money here, that will help the local economy and that in turn is good for house prices.

“You might think that houses near an airport would be harder to sell but airports create employment and the people who fill those jobs need somewhere to live.”

JWhittle@cngroup.co.uk

Have your say

CM Irthington will not be affected by the HGV as the entrance is on the main road and there would be no requirement to come through Longtown or the back of Brampton as all access is on the newcastle road

Posted by anon on 7 January 2013 at 12:33

I hope the airport goes ahead, but house price inflation is an "i'm all right jack" two fingers from the older generation that prevents many younger people from putting a decent roof over their head. Would he be as happy to say an airport would cause fuel and food prices to rocket in the area?

Posted by martin on 7 January 2013 at 09:42

View all 6 comments on this article

Make your comment

Your name

Your Email

Your Town/City

Your comment


SHARE THIS ARTICLE

Vote

Is the economy recovering?

Yes

No

Show Result

Hot jobs

New vacancies

FeedWind

BBC News business headlines

FeedWind