April 16, 2013
Australia

Inquiry to probe wind farm property price impacts

ABC News | 16 April 2013 | www.abc.net.auABC 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.”

URL to article:  https://www.wind-watch.org/news/2013/04/16/inquiry-to-probe-wind-farm-property-price-impacts/