Anti-wind activists claim wind farms reduce property values. The research conducted by Victorian Greens leader Greg Barber shows, once again, that the claim is not supported by evidence.
The claim that wind farms reduce property prices is a staple of anti-wind groups campaigning against proposed developments.
The analysis conducted by the office of Greg Barber MLC compares median house-price sales for postcodes with wind farms to the average prices of the local government area. It found no relationship between the presence of wind farms and lower property prices.
Commenting on the findings, Greg Barber said, “there is no evidence for the anti-wind claim of a 30-50 percent drop in property values.” (An example of anti-wind farm activists claiming wind farms result in 30-50 percent lower property prices can be found in the Australian Senate’s 2011 report on The Social and Economic Impact of Rural Wind Farms, page 54).
The Greens’ analysis supports previous findings by the NSW Valuer General.
In 2009, the Valuer General assessed 45 property sales within a 10km radius of eight wind farm sites in NSW. It found wind farms do not negatively affect property values. It observed no reduction in sale prices for properties located in towns with views of wind farms.
In Waubra, the location of one of Australia’s largest wind farms, the real estate value of residential properties has increased 10 percent over the last two years.
Wind farms create job opportunities, investment and income for farmers and local councils in regional Victoria.
According to the Victorian government’s own figures, in 2009 alone the wind energy sector pumped $1.2 billion into the Victorian economy. Landowners and councils stand to gain yearly payments in order of $16 million and $4.6 million respectively if the state’s approved wind farm projects are built.
The graphs released by The Victorian Greens are featured below:
Median price for house sales for postcodes with wind farms, compared with their Local Government Area
Toora wind farm – commissioned 2002
Cape Bridgewater/Cape Nelson wind farms – commissioned 2008/09
Wonthaggi wind farm – commissioned 2005
Challicum Hills wind farm– commissioned 2003
Codrington wind farm – commissioned 2001
Yambuk Wind farm – commissioned 2007
Waubra wind farm – commissioned 2009
Wind farm info from http://www.dpi.vic.gov.au/energy/sustainable-energy/wind-energy/wind-projects
Property data (house sales) from http://myrpdata.com.au