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| Property
Impact - Windfarms
and Property Prices |
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The saying goes : There are 3 things
you need to think about when buying a house -
Location, Location, Location
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It is not rocket science - if you
had a choice, would you choose to live under a
windfarm? |
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| Studies
and Research |
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The only report currently available
in the UK is by the RICS - Read
the RICS Report |
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This report does not analyse distance
form the turbines in any detail |
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Obviously it must make a difference
whether your house is 500 metres or
2 kilometres away |
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It is only relatively recently that
the threat of windfarms so close to
whole communities has arisen, therefore
there is not much data avaialbale |
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If houses don't sell
there is no house price data! |
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See the Maps
page to see how close you would
be |
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Within 1k, there is a chance your
house
becomes virtually unsaleable |
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There are many cases where people
have abandoned their houses |
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House prices are already affected |
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A report suggested that house prices
will fall (on average) by 30% a year
for the first 2 years and then level
off - That is cumulative |
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For example |
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| a house worth |
£200,000 |
| after 1 year would be worth |
£140,000 |
| after 2 years would be worth |
£98,000 |
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and then the price would remain
at roughly that level |
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It has been suggested that communities/residents
with a vested financial interest in
the wind farm do not object to living
close by |
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Some communities receive annual
payments from the operators eg £10,000
or £20,000 per year |
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Over 200 homes in and around our
villages could be affected - these
payments are negligible and do not
compensate the home owners |
| Community
Impact |
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How will a windfarm so close to
villages impact the comnunity? |
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Will young families move into the
village? |
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Will the school and preschool close? |
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How will the change in population
affect local
businesses? |
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| Real
Experinces & Related Information |
Quote
by the Alliance & Leicester
"Peace and quiet is the single most important
factor people have in mind when buying
a home - with one in five prospective
homebuyers rating it as the most important
consideration when choosing where they
will buy"
Alliance and Leicester Survey, 3/6/03 |
Fom
Evidence to Select Committee
Our house is 930m from a wind farm and
is downwind of the prevailing wind...
became operational in summer 2006. ..By
May 2007 we were forced to abandon our
home...our house is now likely to have
a value of just £35,000 - £50,000 and
is no longer marketable for people to
live in. |
Extract
from the Country Guardian web site
A study of its members’ opinions by the
Royal Institution of Chartered Surveyors
(RICS 2004) concluded that "60% of the
sample suggested that wind farms decrease
the value of residential properties where
the development is within view...” and
the report also concluded that “Once a
wind farm is completed, the negative impact
on property values continues but becomes
less severe after two years or so after
completion" |
Legal
Ruling in the Lake District
There has been a legal ruling against
a couple in the Lake District who sold
their house without telling the buyers
that a wind farm was likely to be built
nearby. The judge upheld the purchasers'
claim for "material misrepresentation"
and ordered the vendors to pay compensation
of 20 % of the market value in 1997, £12,500,
plus interest, because of damage to visual
amenity, noise pollution and the "irritating
flickering" caused by the sun going down
behind the moving blades of the turbines
550 metres from the house.
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A Welsh Experience
In May 2005, a local resident near Brechfa
reported in the Carmarthen Journal that:
"Our property, in the middle of the
proposed TAN8 site (Strategic Area G)
had a firm offer of £318,000. One
week later our prospective purchaser,
who incidentally knew about the turbines
and had no problem with them, said they
would do us a favour and take it off our
hands at a big financial risk - for a
reduced £250,000 which was higher
than the 40 per cent we could expect to
get, being near turbines!"
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Extract
from the Country Guardian web site
With outrageous misrepresentation, the
DTI Myths website dishonestly misquotes
the RICS survey findings: - “A study by
the Royal Institution of Chartered Surveyors
suggests that wind farms have no lasting
impact on UK house prices” and continues
“It shows that local house prices recover
from any initial impact once a wind farm
has been operating for two years.” Compare
that with the very different original
versions above! |
Worldwide
Evidence
Evidence from Denmark, the USA and the
UK indicates that houses in the vicinity
of turbines lose 25 to 30% of their value.
Houses close to a turbine could be unsalable. |
Wales
- Total loss for 8 properties in excess
0f £1.5 milion
In July 2005, a study was made of a sample
of properties near a proposed wind farm
at Esgairwen Fawr, near Lampeter, Ceredigion,
by Gareth Scourfield. Eight properties
were valued and estimates made of the
loss due to nearby wind turbines. Total
loss for the eight properties was in excess
of £1.5 million, or typically 20 - 25%
on each property |
Property
Value Loss Comensations - Denmark
There is a new law about compensation
for lost property values caused by windmills.
If a house is within 6 times the altitude
of the tower - for example tower altitude
100 meter = 600 meter - you can have an
evaluation made free of charge. If the
house is further away you have to pay
for an evaluation. The money will be returned
if you get compensation. Owners of windmills
have to pay the compensation. |
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