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How could wind farms affect house prices?
In March 2007 the
Royal Institution of Chartered Surveyors
(RICS)
published research they commissioned on the impact of wind
farms on house prices.
(View
content)
Although the head line synopsis, often quoted by wind farm
developers, indicates that impacts are most pronounced on
those properties within 1 mile of a wind farm, reading the
detail discloses a wider story.
A
survey of 405 RICS estate agents found that 60% said that
where wind turbines were within view then property values were
decreased, with 67% saying this depreciation starts as soon as
the planning stage commences.
The study reviewed 1,026 residential property sales that
occurred within 5 miles of several UK wind farms. Of these
10% were excluded from the study as they were
valued over £400,000 or it was deemed they would have
attracted a price premium prior the development of the wind
farm due to their location, views or setting.
Of the properties included in the study the research showed,
that the nearer to the wind farm the property is, the greater
the depreciation in value. The impact is significant with
values reducing by 35% to 54% compared to properties beyond 4
miles.
What the study failed to clarify was if there is an impact to
properties beyond 4 miles. But if the opinions of RICS own
estate agents are correct any property that can see turbines
will be impacted.
According to the Nuon impact assessment, submitted as part of
their planning application, the turbines hubs at Swinford
will be visible within an 18.6 mile radius. If you live
within this area it is possible you have already been impacted by this
proposal. To reverse this impact the application must be
rejected.
However, please note that impact on property values is not a
valid reason to reject any planning application. The loss in
value is a consequence of the visual and environmental damage
the development will have, and it is on these grounds that we
must defeat the proposal.
For more details see
web site:
http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2004/10/20/pwind17.xml
http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2004/02/14/pfarm14.xml
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