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Inquiry to probe wind farm property price impacts  

Credit:  ABC News | 16 April 2013 | www.abc.net.au ~~

A Federal Court decision has triggered a South Australian parliamentary investigation into whether wind farms can devalue neighbouring properties.

The terms of reference have been expanded for a select committee looking into wind farm developments.

Committee chairman David Ridgway says it results from a Federal Court decision finding the developments can cut the value of surrounding properties.

Mr Ridgway says it is a significant issue for country people that extends beyond simple property prices.

“There’s a flow-on effect that if somebody is using that property for equity, to expand a farming operation or their business operation and of course suddenly if it does have an effect on their property values, it does have a flow-on effect to their banking and finance arrangements,” he said.

“So it’s a very important issue that we hope to get some clarity on before the committee reports.

“There have been some suggestions but because it hasn’t been a term of reference on its own we really haven’t looked at that in detail but this is the first time that we’ve seen a court decision coming out I guess in black and white that yes, the judge in that particular court deemed that there was a significant effect on property.”

Source:  ABC News | 16 April 2013 | www.abc.net.au

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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