UK HOUSE VALUES REDUCED BY WIND FARMS
A study has been carried out by the London School of Economics to see how wind farms affect property prices.
The report examined a million property sales close to wind farm sites over a 12-year period.
The study looked at 150 wind-farm sites across England and Wales. It compared house-price changes in areas which either had wind farms, were about to have one built, or where an application for a wind farm had been rejected by the local authority.
One finding was that values of homes within 1.2 miles of large wind farms were reduced by about 11 per cent.
The report did not mention (or include) houses which had become unsaleable.
The average property price in the UK is now £250,000. An 11% reduction is about £27,000.
Prof Gibbons, director of the LSE’s Spatial Economics Research Centre, said that property prices are going up in places where turbines are not visible and down in the places where they are.
26 Jan 14
WIND TURBINES, NOISE & PROPERTY VALUES: ILLINOIS, USA
Brandon Canevari, writing in the Manchester Journal, USA (www.manchesterjournal.com) quotes a study on property values carried out in Lee County, Illinois.
The average price per square foot for a home further than 2 miles from the closest wind turbine was $104.72. For those closer to the turbines the average sale price was $78.84. This represents a devaluation of approximately 25 percent.
20 Jan 14
PROPERTY DEVALUATIONS BY WIND TURBINES: EXETER
Large numbers of houses are now being devalued by nearby wind turbines which dominate the landscape. My own neighbour was involved in a property 'chain' which collapsed when one of the prospective buyers found that the house he wanted to buy would soon have a wind farm built a quarter of a mile away. He backed out.
Mainstream media sources are still asserting that there is no evidence for wind farms affecting property values. However, these are the same media sources which fail to report the appalling performance of wind turbines built south of Hadrian's Wall.
A person from the West Country writes, in the Exeter Express and Echo, 30 Dec 2013:
I was told that my home was worth 30% less because of a wind farm 2km away and in full view. That is a reduction of £90,000 so an offer of compensation for £8,000 is an insult. Homes in our area have lost £100,000 and some cannot sell.
WIND TURBINES: EFFECT ON PROPERTY PRICES, AYRSHIRE
Reported to me by LH, a friend in Ayrshire:
Local estate agents are advising those in the vicinity of wind turbines wanting to sell their homes to lower the price by 30%.
8 Oct 13
WIND TURBINE: PROPERTY DEVALUATION, ABERDEENSHIRE
An artist has found that plans for a 260-foot wind turbine overlooking her cottage in the Scottish countryside devalued her home by £45,000.
Sue Arbor, 59, who lives near Huntly, Aberdeenshire, put her home up for sale in 2011 after learning of a proposed wind farm about 500 yards from her back garden. The cottage was valued at £130,000, but after two years she was still unable to find a buyer. She suspected the turbine was to blame. Her suspicion was confirmed in June when a woman making an offer for the cottage withdrew it after being informed of the wind turbine by a person at Aberdeenshire Council.
Eventually Sue put her home up for auction with Glasgow Property Agency, with a fresh valuation of £100,000 and a reserve price of £70,000. This resulted in another firm offer but the man pulled out after learning of the turbine.
Eventually a cash buyer turned up on the doorstep. He and his girlfriend got it for £85,000; about 35% down on the original valuation.
9 Sep 13
WIND TURBINES DEVALUING PROPERTY: GIPPSLAND, AUSTRALIA
The South Gippsland Shire Council has said that the Bald Hills wind farm, currently in the planning stage, has affected the value of nearby properties.
The rates for these houses have been reduced.
15 Jan 13
....and a related news item from the previous year......
The renewables industry trade body, RenewableUK, formerly known as the Britsh Wind Energy Authority, has had to withdraw a leaflet saying that wind turbines do not affect house prices. This was in response to a complaint to the Advertising Standards Authority by Mrs. Hobbs of the Penucuik Environment Protection Association.
Wind turbines do affect house prices, and this has been acknowledged by the Valuation Office Agency, which has moved a number of affected homes into lower Council Tax brackets.