Another report has put lie to the belief that wind turbines have an adverse effect on property prices.
The Canadian study, published in the Canadian Journal of Agricultural Economics, analysed more than 7000 home and farm sales in a regional area in Ontaria, home to one of the largest wind farms in the province.
The researchers created six models accounting for the impact on property values of proximity to the wind farm development and turbine visibility, as well as a combination of these two factors.
In every case, they found wind farms had “no statistically significant effect” on property values. 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,” lead researcher Professor Richard Vyn said.
Professor Vyn said he was motivated to conduct the research following strong public opposition to wind farm development in the region.
“It’s been in the news for a while now, and it seems to be generating more and more concerns among local residents,” he said. “I wanted to see whether the stories people are telling and the concerns that they are expressing show up in the sales data.
“Our results do not corroborate concerns raised by residents regarding potential negative impacts of turbines on property values.”
The study, however, only focused on homes and farms as groups only.
“It does not preclude that there may be some impacts on individual properties,” Professor Vyn said.
The results, though, do back up a 2013 Lawrence Berkeley National Laboratory study that found no evidence of impacts to sale price from wind turbines after looking at more than 50,000 home sales near 67 wind farms across nine US states.
- See our article Study: wind turbines do not affect property price