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Estate agents bemoan impact of wind farms
Credit: Retirement News | Prudential UK | 31/10/2013 | www.pru.co.uk/ ~~
Estate agents have claimed that wind farms can have a surprisingly dramatic impact on the value of a property.
According to industry experts, wind farms can lower the value of a home by as much as 8%, which goes to underline their contentious status.
The structures have attracted lots of controversy in recent times, with a number of politicians and celebrities voicing their disapproval.
Bill Bryson, for instance, argued that wind farms would damage the landscape of Britain for “at least a generation”.
Despite this, the energy revolution continues apace, with a record number of wind farms being approved so far in 2013.
Planning permission has been given for 188 new onshore wind farms between January and the end of August. This is equivalent to a 49% rise on the same period in 2012.
Philip Selway, a partner at The Buying Solution, warned of the financial impact of wind farms, saying that they could potentially knock thousands off the price of properties.
“Although they are not as universally hated as things like electricity pylons, which are an absolute no-no for buyers, they can be a big negative for many people,” he commented.
“They can probably knock eight per cent off the value of a home.”
Meanwhile, a recent report confirmed that the London property market is currently riding the crest of a wave.
For instance, asking prices have climbed by 12% in just one month in Kensington and Chelsea and Westminster.
And research found that prices in these boroughs have jumped by as much as 30% over the past year.
Miles Shipside of Rightmove explained that some agents recently reported a buying frenzy in parts of prime inner London.
“Unsurprisingly,” Mr Shipside said, “many of this month’s best performers are boroughs in inner London.”
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