Wind Farms
Devalue Property

October 4, 2012, Canada. More evidence is emerging that houses in the vicinity of wind turbines become devalued. London Free Press has reported that a study from Ben Lansink of Lansink Appraisals and Consulting states that homes within wind turbine zones are selling for less than market-value. Lisa Thompson, MPP has written to the Minister of Finance Dwight Duncan and asked him to instigate a study.

Lansink analyzed properties in the Shelburne area, home to the 133-turbine Melancthon Wind Farm. He found five homes which had been bought by the wind farm developer, Canadian Hydro Developments, a subsidiary of Calgary-based TransAlta, at fair market value. Canadian Hydro later put those houses back on the market and they sold on average loss for 38% less. One was down by 58%.

This is a serious matter. Many ordinary people use the capital value of their homes to help fund their later years. There is no reason to think that the situation in the UK will be any different.

4 Oct 2012

England, UK. Everyone living very close to a wind farm knows that this has a negative effect on house prices. This is no joke if one's life savings have been sunk into the property. Until recently, however, there was no official admission that property prices were affected in any way.

This has now changed.

The decision by the Valuation Office Agency (VOA) to move certain houses close to wind farms into lower council tax bands is the first official recognition that wind turbines lower the value of homes nearby.

In a recent case a couple saw the value of their home fall from 400,000 to 300,000. Their house is 650 yards from the Fullabrook wind farm near Braunton, Devon. The pricing was done by a local estate agent, based on local knowledge and the sale of similar properties nearby.

The couple pointed out that the persistent whooshing noise caused by the turbines and the visual intrusion including a strobing effect when the sun is directly behind the blades made their property less valuable.

The VOA accepted their argument and agreed to move the property from council tax band F to band E. This gives a small saving in council tax, but obviously it doesn't compensate for the 100K loss, a drop in value of 25%.

25 Jul 12

habitat21 adds:

If you have had to sell your house at a reduced price because of the proximity of a wind farm, I would be interested to hear from you. Such information needs to be widely known.

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