Articles filed under Property Values from Australia / New Zealand
The letter, sent to eight properties, warned that development consent was not a defence against possible legal action and recommended recipients seek legal advice. Mr Hodgson said he had been advised by his lawyers that there was "extensive" precedent to sue his neighbours should the turbines prove a nuisance, and that he would seek damages.
Member for Hume Angus Taylor says rural land owners who’ve had their properties devalued by neighbouring wind farms deserve to be compensated. His comments come follow the publication of a preliminary report into the issue, which showed properties across the region that adjoined either energy developments or proposed energy developments had seen 33 to 60 per cent write downs.
Rural landholders across Australia may face a disappearing pool of buyers and plummeting values of up to 60 per cent because of neighbouring wind farms, a new, independent report has established. Most reports so far have not produced evidence that rural land holdings have been impaired by wind turbine development. However, registered valuer Peter Reardon has compiled a 30-page dossier on the impacts of wind farms on adjoining or nearby rural farms.
A Federal Court decision has triggered a South Australian parliamentary investigation into whether wind farms can devalue neighbouring properties. The terms of reference have been expanded for a select committee looking into wind farm developments.
An explosion of proposed wind farms near Canberra and their divisive nature have turned communities against them, the Liberal candidate for Hume claims. Angus Taylor said neighbouring farmers were terrified their land values will plunge 30 per cent.
In a decision believed to be the first time an Australian court has recognised the adverse financial impact of wind farms for neighbours, magistrate Kate Hughes ruled a property would be worth 17 per cent less if a 14-turbine facility were erected next door. For one part of the property, in regional Victoria, she accepted a 33 per cent fall in value was likely.
Mr Jelbart and his neighbours estimate the wind farm development will wipe $20 million from the value of nearby properties. "Our land is being used as a buffer zone for an industrial site," he said.
Wind farms are blowing land values off course, slashing property tags by up to a third in some areas and lifting others by as much $50,000 per turbine. A new study shows the presence of wind turbines significantly influence land values - but it's not all bad. The study co-incides with a new push by the Federal Government to speed up the building opf wind farms across Australia. Ballarat-based value Alan Hives said there had now been enough sales of property featuring or near wind farms to draw some conclusions of their impact on property values.
John Jess has been valuing properties in Gippsland, Vic, since 1982 and says wind turbines are having a significant impact on values for both farmland and residential property. Having conducted valuations for a panel hearing on proposed wind farms, Mr Jess said farming properties appear to drop 10-15 pc near turbines. There is stronger evidence to suggest rural-residential values drop by 30-40pc near win turbines.
Victorian Nationals Energy spokesman Peter Hall has called on the Government to acknowledge that windfarms devalue properties surrounding the land on which they are sited, and to review planning guidelines to reflect the drop in value. Mr Hall said that irrefutable proof of property devaluation was contained in conditions attached to a recent planning permit issued by South Gippsland Shire Council. The condition, attached to a permit to subdivide land adjoining the proposed Bald Hills wind energy facility, requires future land owners to be advised that "residents on the lots may experience detrimental amenity affects arising from the facility such as noise, blade glint and blade flicker." ..."The Government's renewable energy policies should be targeted at those renewables that have less negative environmental impacts such as solar, geothermal and bio-fuels," Mr Hall concluded.
Twenty-five people fired their concerns at TrustPower major projects manager Deion Campbell and environmental officer Ryan Piddington about a project they said has divided the community. TrustPower hopes to build the $500 million wind farm on nine properties in the hills behind Mataura. ... The land owners' biggest concern is the impact the wind farm will have on their property prices. TrustPower had "handsomely" compensated those people whose land would be used for the turbines while neighbours had been left in the cold. The consequences for them were only negative with pristine views spoiled and fears that noise from the turbines would cause a drop in property values.
"We want to get on with our lives but until we know whether the wind farm is going in, there's no point putting money and work in to improve our properties because it could become worthless. ..."The last time the company was in contact with the community was in 2005. We've picked up bits and pieces from the radio but when we send them registered letters asking for more information, we are ignored."
Almost every property in their street, apart from those of the farmers on whose land the turbines are being built, is for sale. "I've watched my husband work all his life to build this home," Mrs Cicero said. "We've never had loans, we've always worked and saved. And now we find everything that we've put in here, it's all worth nothing." The Ciceros had their home valued at $410,000 before the wind farm was taken into account. Afterwards, the estimated value dropped to $270,000. They have not received one offer for their property in two years.