Fine Energy identify sites for small and medium scale wind turbines on privately owned land in the UK. One of the most common questions we get asked during the community consultation process is whether the turbines will adversely affect the resale value of properties. New market research in Canada has confirmed that they have no effect on property values of nearby homes, commercial properties or farms.
The study was carried out by the University of Guelph who looked at more than 7,000 homes and farm sales in 11 townships in Ontario, Canada. Researchers looked at sales data over an eight-year period – from 2002 to 2010 – to capture property values before, during and after the wind farm’s development.
During that period, more than 1,000 homes and farms were resold – some multiple times- and in every case, they found wind farms had ‘no statistically significant effect’ on property values.
This research contradicts a study released earlier this year by the London School of Economics (LSE) which found that values of homes within 1.2 miles (1.9km) of large wind farms were being slashed by about 11 per cent.
This news will hopefully help put peoples minds at ease and allow them to focus on the positives that come from the installation of wind turbines, that being the generation of clean, renewable and sustainable energy.