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Study claims wind turbines can wipe value off houses

Placards in St Michaels

Placards in St Michaels

Wind turbines built close to homes could wipe tens of thousands of pounds off their value, a new study has claimed.

The research, by the London School of Economics (LSE), looked at more than a million sales of properties close to wind farm sites over a 12-year period and found values of homes within 1.2 miles of large wind farms were being slashed by about 11 per cent.

If a wind farm was built near a home, which now costs almost £250,000, it would lose more than £27,000 in value, according to the study.

A residents’ group living close to a proposed wind farm development, off Band Lane, St Michael’s, supported the findings. RWE npower Renewables hopes to build seven 125-metre high wind turbines on the land, but faces opposition from neighbours who claim the Cuckoo Wood scheme will destroy their beautiful views.

Jan Hallam, of the concerned residents of St Michael’s-on-Wyre group, said: “It is clear the anecdotal evidence cited by the many householders affected in this way can now be backed up by valid and reliable data.”

But Jennifer Webber, director of public affairs for Renewable UK, which represents the wind industry, said the conclusions would be examined closely when the final report is published.She said previous work had failed to find a direct link between wind farms and house prices,with a 2007 RICS (Royal Institute of Chartered Surveyors) report noting there were generally other more significant factors. She said: ”What we do know is that wind farms bring hundreds of thousands of pounds worth of economic benefits to the area, via contracts and community benefit funds.”

ities, making locations more attractive for house buyers.”

 

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