Wind Farms Slash Value Of Homes Nearby, Study Finds
The presence of wind turbines near homes has wiped tens of thousands of pounds off their value, according to the first major study into the impact the eyesore structures have on house prices.
The study by the London School of Economics (LSE) – which looked at more than a million sales of properties close to wind farm sites over a 12-year period – found that values of homes within 1.2 miles of large wind farms were being slashed by about 11 per cent.
This means that if such a wind farm were near an average house in Britain, which now costs almost £250,000, it would lose more than £27,000 in value.
Homes located within 1.2miles of wind farms can decrease in value by up to 11 per cent, a study has discovered+2
Homes located within 1.2miles of wind farms can decrease in value by up to 11 per cent, a study has discovered
In sought-after rural idylls where property prices are higher, the financial damage is even more substantial. In villages around one of Southern England’s largest onshore developments – Little Cheyne Court Wind Farm in Romney Marsh, Kent, where homes can cost close to £1 million – house values could drop by more than £100,000.
The study further discovered that even a small wind farm that blighted views would hit house values…
The report’s author, Professor Steve Gibbons, said his research was the first strong evidence that wind farms are harmful to house prices.