Wind Farms Have an Adverse Impact on House Values
What is a Wind Farm? Wind Farms are wind turbines which rotate to generate electricity. They’ve been developed to help tackle climate change and searching for viable alternatives to fossil fuels is one of the great challenges of humankind. Although wind farms are an important part of UK’s overall energy supply, they are not without their controversy. It seems that some people consider them to be a blight on local landscapes, and many buyers are put off from buying houses that sit in the shadow of these enormous, imposing structures. It is suspected that there is a correlation between a property’s proximity to a wind farm and its value, but it now seems there is evidence to support the link.
A government study into the relationship between property prices and wind farms
Worried about the social and economic impacts of massive wind farms, members of the government commissioned a secret report into the effect wind farms have on rural house prices. The Daily Telegraph reported that sources from within the government claim the study points to an 8 percent reduction in property values as a result of the presence of wind farms, whereas a study by Western Daily Press went as far as an 11% decrease. It seems that many people believe that massive turbines spoil the aesthetic appeal of the countryside, and that is leading to a huge reduction in demand for homes that live in their shadow. The growing support of prominent figures such as travel writer Bill Bryson means critics of wind farms are finally finding their voice.
An increase in wind energy could further damage UK house prices
The UK’s reliance on wind power is currently minimal – accounting for less than 5 percent of our total energy supply. However, with CO2 emission targets to meet, and the growing support for clean energy projects, it seems that the sight of big wind turbines is going to become commonplace in all areas of the country. Indeed, 188 new farms received planning permission in 2013 alone, and that represents an increase of 49 percent on last year.
In much the same way as electricity pylons have historically knocked thousands off property values in the UK, it appears that a wind farm has a similar effect. That could mean that the average house valuation of around £240,000 could fall to £220,000 if a wind farm appears in the local vicinity. In many cases, residents and homeowners are completely powerless to act. Although the proximity of roads and anti-social neighbourhoods are thought to be more damaging to average house values, this still points to a significant problem that is harming rural properties disproportionately.
Of course, some mitigating factors can reduce the impact of local wind farms. A good school, other areas of natural beauty and a good selection of local amenities can often make up for reduced property values. If you are looking to sell a home quickly in an area that has a wind farm, you may need to consider lowering your house valuation expectations. The help of an experienced service like that offered by Flying Homes, the premier property buying Company, we can find you a buyer in the fraction of the time it takes on the open market.
There are inevitably two opposing arguments on the merits of the construction of more wind farms, and environmentalists may argue that there is little evidence to support the claim that wind farms adversely affect the value of your home. However, a recent hearing at the UK’s Valuation Tribunal favoured a Lincolnshire resident who claimed she was paying too much in council tax because her house valuation was affected by the appearance of a new wind farm. The tribunal agreed, which is perhaps the first legal ruling that recognises the link between these developments and property prices.
The search for cost-effective, renewable energy will forge ahead despite concerns, and that means the number of wind farms in the UK will continue to increase for many years to come. The support for wind farms means that many homeowners will simply have to accept that property prices will be adversely affected in many parts of the country by their continued expansion
Flying Homes has property buyers all over the UK, many of whom are undeterred by the aesthetics of the location of a house or if it’s outlook is affected by pylons or a wind farm. Flying Homes has access to these buyers who are only concerned with investment potential or returns generated, not Land Registry house prices or ‘historical home prices’ so if you need a quick house sale then call 0800 669 6784 or complete our online instant quote form.