Property Values

 

TelegraphpricesplummetLocation. Location. Location. We bought our houses here because of the beautiful views and quiet countryside (and paid for those commodities). Would you buy your house now when the threat of these turbines hangs over the area, or would you choose another village? It seems that our neighbours trying to sell their houses are finding it difficult.

Much depends on proximity and visibility and clearly, the prices of nearby houses in sight of the turbines would be affected.

The wider effect is likely to be linked to the extent to which the presence of the turbines changes the character of the landscape. It is expected that the negative effect on the landscape would be profound.

Would you prefer to buy a rural house in a village with huge turbines looming over it, or one in a rural village without turbines?

Will a wind farm reduce the value of my property?

The Telegraph (22.7.12.) says yes:

http://www.telegraph.co.uk/earth/energy/windpower/9418617/Wind-farms-do-bring-down-property-values.html

So does the Daily Mail:

http://www.dailymail.co.uk/news/article-2177429/Wind-farms-DO-hit-house-prices-Government-agency-finally-admits-thousands-wiped-value-homes.html

Studies carried out by the Royal Institute of Chartered Surveyors (RICS) also indicate that wind farms do affect property values.

A study suggested wind farms decrease the value of residential property where the development is within view. It also indicated that the negative impact on property prices starts when a planning application to build a wind farm is made.

Follow the link for more information:

http://www.savethebluffs.ca/archives/files/Windfarmsandpropertyprices.pdf

The RICS also found that a comparison of the mean value of property showed that the value of a terraced and semi detached house tended to be lower than a similar house type sited further away from a wind farm in the case study locations.

Terraced houses sited within I mile of a wind farm were observed to be 54 per cent lower in value and semi detached houses within 1 mile of the nearest turbine were 35 per cent lower than similar houses at a distance of four miles.

The main factors cited for the negative impact on property values are;

  • Visual impact of a wind farm after completion
  • Proximity of a property to a wind farm
  • Noise and health disturbance.

Painful Reality 

A recent landmark case has shown evidence that house prices are affected by the close proximity of wind turbines. Jane Davis was granted a reduction on her council tax because her home has lost value due to a turbine located just 1,000 metres away.

This ruling is an indication that wind farms have a negative effect on property prices.

Follow the link to read the full BBC press report.

http://news.bbc.co.uk/1/hi/england/lincolnshire/7529713.stm