Wind farms 'have no significant effect' on house prices, claims study
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A number of politicians have described wind farms as a blight on the landscape – a sight so 'appalling', they could slash the value of your home by a third.
But new market research in Canada has revealed that these towering turbines have no effect on property values of nearby homes, commercial properties or farms.
The researchers hope that their unexpected results may help resolve some heated debates about the use of wind farms near residential areas.
Hot air: New market research in Canada has revealed that towering wind turbines have no effect on property values of nearby homes, commercial properties or farms
The study, by the University of Guelph, looked at more than 7,000 homes and farm sales in 11 townships in Ontario, Canada.
This included Melancthon, which is home to one of Ontario's first and largest wind farms after 133 turbines were erected there between 2005 and 2008.
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.
The study ontradicts research 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
The researchers had expected to find a negative correlation, especially for residential properties.
'This may help address the controversy that exists in Ontario regarding the impact of wind turbines on property values,' researcher Richard Vyn said.
A current court battle in Ontario about wind energy developments involves families in Huron County and the K2 Wind Energy Power Project.
Across the province, residents have called on the government to delay wind farm development until the impacts are better understood.
But similar opposition to wind farms is taking place across the world. In the UK for instance, nearly 25,000 objections were lodged against proposals to build wind turbines the 'size of skyscrapers' across Scotland.
'It's been in the news for a while now, and it seems to be generating more and more concerns among local residents,' said Vyn.
'I wanted to see whether the stories people are telling and the concerns that they are expressing show up in the sales data.'
This research, which was recently published in the journal Canadian Journal of Agricultural Economics, is the first peer-reviewed study on the subject.
It contradicts research 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.
The study looked at more than a million sales of properties close to wind farm sites over a 12-year period.
This means that if such a wind farm were near an average house in Britain, which now costs almost £250,000 ($391,100), it would lose more than £27,000 ($42,250) in value.
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