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Wind farms knock 8pc off house prices
Credit: New plans to build onshore wind farms in hundreds of sites could hit property values hard | By Melissa Lawford The Telegraph | 24 March 2022 | www.telegraph.co.uk ~~
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Translate: FROM English | TO English
Wind farms knock £44,000 off the price of nearby homes, as a Government planning shake-up means hundreds of sites are poised to go ahead.
Homeowners will see the value of their properties fall by as much as 8pc following the construction of an onshore wind farm nearby.
Properties within a 2km radius of a new wind farm typically fall in value by between 4pc and 5pc after the power plant’s construction, said Stephen Jarvis, a professor at the London School of Economics and Political Science. This is due to noise and obstruction of views.
“But there can be larger effects in wealthier areas, where properties have higher values because of beautiful views,” added Mr Jarvis. In situations like this, the hit to house prices can be 8pc, he said.
The average rural detached home, costing £550,430, would fall in value by £44,034, according to Hamptons, an estate agency. A 5pc drop would knock £27,522 off the house price.
Prime Minister Boris Johnson intends to overhaul planning restrictions that prohibit onshore windfarms as part of his push to wean Britain off oil and gas. His proposals would reverse reforms made in 2015 under David Cameron, which made decisions more locally driven.
There are currently 135 wind farm sites that have been approved but are awaiting construction. A further 50 are awaiting approval. Several hundred more that were previously rejected could soon be revived.
Wind farms currently awaiting construction are largely concentrated in rural areas in Scotland and Wales, but there are also projects planned in Leighton Buzzard in Bedfordshire, in Shirehampton near Bristol and Camelford in Cornwall.
Onshore wind farms have a more direct impact on home values than those which are offshore as projects at sea are typically 10km or 20km away from properties.
The negative impact on home values can be offset, however, by developer incentives, said Mr Jarvis. “There are a range of schemes that wind farm developers can use, such as providing a community benefits fund or giving nearby residents discounts on their energy bills. That can go a long way to get rid of the impact on property values.”
Most wind farm projects, which are typically in rural areas, affect only a small number of homes, but some which are located closer to towns and villages have impacted greater numbers of properties, said Mr Jarvis.
These include Frodsham Marsh Wind Farm in Cheshire, Lambs Hill Wind Farm in Stockton-on-Tees and the Aberdeen Bay Wind Farm in Scotland.
The latter was the subject of a legal battle between Donald Trump (before he became president of the United States) and the Scottish Government, because Mr Trump argued that the wind farm would spoil the views from his golf course. He lost his case in court to halt the project and was forced to pay the Scottish Government’s legal costs.
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