Anti-wind farm campaigners have made a lot of noise in recent weeks about wind farms and property values. Activists have claimed the presence of a wind farm deflates the value of property and land. The story emerged after South Gippsland Shire reduced the rates of a single property owner living near a wind farm.
So what’s really going on with wind farms and land value? What does the evidence tell us about property prices near wind farms?
In 2009, the NSW Valuer General assessed 45 property sales within a 10km radius of eight wind farm sites in NSW. It found wind farms do not appear to negatively affect property values. No reductions in sale price were observed for rural properties located in nearby townships with views of the wind farm. And in Waubra, the location of one of Australia’s largest wind farms, the real estate value of residential properties has increased 10% over the last two years.
Enough from me, here’s Sean McComish’s report for The Warrnambool Standard. It features Mr Barber’s comments on wind farms and property prices:
A GREENS MP has slammed claims that wind farms lower property values.Victorian upper house member Greg Barber struck back at concerns raised by south-west landowners that the Macarthur wind farm had reduced the price tag on their homes and land.
Those opposed to the turbines in Macarthur remain focused on health issues, but have recently become outspoken about the financial impact.
“There are tens of thousands of wind turbines around the world and the studies done there show the same thing. Turbines don’t affect property values,” Mr Barber said.
He pointed to a 2009 New South Wales valuer-general report that found no value reductions near wind farms.
Debate over the issue has been struck up in the past month after a Gippsland farmer got a verbal agreement from a local council to lower his rates.
Several residents living near the 140-turbine wind farm in Macarthur have unsuccessfully made similar requests to Moyne Shire to lower their rates.
Under Victorian laws, revaluations and new rates are set every two years.Mr Barber described the debate over land values as fear mongering driven by the anti-wind lobby.
“South Gippsland Shire gave a rate reduction to one guy who kicked up a stink about living next to a wind farm. All that does is shift the rates bill on to someone else,” he said.
“Of course if the anti-wind activists keep this nonsense up they may start to scare property buyers off — it’s a self-fulfilling prophecy.”