AACI, P.App, MRICS
Opinions about wind turbines – and their effect on property prices – are a relatively new phenomenon in Ontario (since 2005). Most people have an opinion regarding wind turbines and their effect on themselves, their surroundings, and society. The main concerns are the safety and health impacts of wind turbines.
If a wind turbine were erected on a property, would the neighbouring properties have the same market value as without the wind turbine? Does a wind turbine cause an increase or decrease in property value? There may be endless questions from a potential buyer and/or seller when dealing with a property affected by a wind turbine. When considering property value, these questions are difficult to quantify; however, the overall impact of a wind turbine can be analyzed within the actions of an open real estate market.