MILLOM could benefit from a property market boom triggered by the new nuclear development at Moorside, Sellafield. 

Cumbria Local Enterprise Partnership has predicted population growth of 50,000 in the county over the next 10 years, much of it due to an influx of labour needed for the site in west Cumbria.

All these workers will need somewhere to live temporarily or permanently. A major effect on housing sales and lettings is inevitable. 

Aidan Lillington, director of Lillington’s estate agents, which has offices in west Cumbria, said: “The thousands of skilled workers required for a project like this will have a major knock on effect to demand for both sales and property rentals.

“We expect these to be well paid individuals in the main, and as the build will take some time to complete the demand for upmarket apartments will return and also new-build and executive houses, which will be perceived to be easier to sell once the project is completed and the people then leave the area.

“This extra demand will increase prices in both sales and rentals over and above natural levels of growth."

He predicts that buy-to-let investors, perhaps from outside the area, will snap up homes in anticipation of an attractive rental yield.

He said: “We are not seeing a quantifiable increase in demand as yet but, as outside investors become more aware of what is planned, I am sure they will turn their attentions to west Cumbria.

“I still think demand will exceed supply, pushing prices higher.”

Although things look positive, Mr Lillington offered a warning. He said: "Once the project is completed we expect to see a large number of people then leave the area.

"Demand for property will fall as a result and we could end up with the opposite - too many houses available for the requirements of the local population."