25 January 2014
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.
The study further discovered that even a small wind farm that blighted views would hit house values.
Homes within half a mile of such visible turbines could be reduced in value by about seven per cent.
Even those in a two-and-a-half-mile radius experienced price reductions of around three per cent.