Articles filed under Property Values from Europe

Residential amenity compromised by wind farm

There were 14 residential properties within two kilometres of the site and three in particular were likely to experience overbearing impacts.The fact that the turbines would be widely and evenly spaced would serve to emphasise their dominating impact, she opined. Therefore, although none of the owners had a right to a view, their amenity would be significantly compromised and the ability to generate up to 15MW of electricity per year did not outweigh the harm.
20 Apr 2020

Wind turbines lower real estate prices: Report

A study by the RWI - Leibniz Institute for Economic Research shows that wind turbines can lead to falling prices of single family homes in the immediate vicinity. The value of a house one kilometer away from a wind turbine drops on average by a good 7 percent. For the study, the RWI has evaluated almost 3 million sales offers 
21 Jan 2019

“Irresponsible and shameless exploitation” – new tourism chief takes stand against Navitus Bay

In a statement attacking the proposals, Bournemouth Tourism Management Board also said it was furious that EDF Energy, one of the backers of the Navitus Bay project, was “completely disregarding the environmental and consequential economic impact on the local area and refusing to compensate for the multi-million pound damage local businesses face”.
27 Feb 2015

Wind farms proven to cut house prices by 11%, says LSE report

The study, by the London School of Economics (LSE), reviewed more than a million homes within close proximity of large wind farms over a 12-year period, finding that their property values fell by 11 per cent. According to Professor Steve Gibbons, Director of LSE’s Spatial Economics Research Centre, "Property prices are going up in places where they’re not visible and down in the places where they are.”
26 Jan 2014

Wind farms 'can wipe one-third off house prices', MP claims

"An increasing number of people are coming to me with clear evidence that the value of their home is significantly less than what it otherwise would be were the wind farm not there. "I'm seeing a minimum 10 per cent to 15 per cent reduction," he said. "Some are seeing a loss of one-third of the value. How can that be fair?
31 Dec 2013

Wind farm ‘blight’ cutting value of homes by up to 33%, says MP

Westcountry homes close to wind farms have lost up to a third of their value, an MP has claimed as the Government considers paying compensation if developments cause a property price plunge. Geoffrey Cox, Conservative MP for West Devon and Torridge, said constituents have been told by estate agents their homes are worth “significantly less” thanks to giant turbines, and that it is an “injustice” they lose out while developers and land owners potentially pocket millions.
30 Dec 2013

Wind farm foiled family’s Italian dream

“We were contacted by the estate agent and he basically informed us there was no point in having this property on the market while this application was going through – it would be almost impossible to sell.” The family spoke to other estate agents and all said their home was unsaleable because of the wind farm plan.
20 Oct 2013

Wind farm misery for property owners; Housing values plummet in shadow of turbine developments

“Estate agents are now advising those wanting to sell their homes to lower the price by 30%. Sadly, some find they cannot sell at all.” Struan Stevenson MEP added: “Some homeowners are suicidal because their homes are worth a fraction of their original cost and many were counting on them for their pensions. The rush to make millions from wind farms is a cruel blow to homeowners whose only crime has been to live in the countryside.”
29 Sep 2013

Proof windfarms will cut Scots house prices

The cottage was valued at £130,000, but after two years she was still unable to find a buyer. In June, when a woman withdrew an offer, she received an email explaining the decision, which reads: "Having spoken to Planning again, re the wind turbines, as 475 metres from the house is close, they have confirmed there will be a ‘whooshing' noise and flicker. ...My solicitor has contacted me this morning and said best avoid it and look for somewhere else."
8 Sep 2013

Ed Davey warned about his department's use of wind farm 'evidence'

The Daily Telegraph has learnt a new Government row over wind farms is blocking a report that could provide official confirmation that the controversial turbines can harm rural areas. ...Chris Heaton-Harris, the Conservative MP for Daventry, said: "There is growing concern over the level of property blight that wind turbines cause. "These are the experts in the industry and they should be listened to."
23 Aug 2013

When a price has to be paid for green energy

Houses very close to wind farms drop in value because they are more difficult to sell and a significant rebate would be some compensation. Whether £400 and a reduction in fuel bills will be regarded as adequate remains to be seen and householders who complain that noise from turbines affects their wellbeing are unlikely to regard any payment as sufficient compensation.
27 Dec 2012

Wind turbine compensation stirring discontent

The loss-of-value clause was passed by parliment in 2008 at the urging of Dansk Folkeparti (DF) and gave neighbours to wind turbines the opportunity to seek financial compensation for lost property value. Fifty-three percent of applicants have received compensation, but those that have had money awarded say the amount did not come close to reflecting the actual value.
12 Nov 2012
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