Modelling the impact of wind farms on house prices in the UK
This paper discusses the findings from a UK study to determine the likely impact of a wind farm on house prices using a hedonic pricing model. The Government's commitment to wind power has resulted in a massive increase in the number of wind farms sited in the UK. This has led to concerns that...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2008-12-01
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| Series: | International Journal of Strategic Property Management |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/IJSPM/article/view/6769 |
| _version_ | 1818902951876362240 |
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| author | Sally Sims Peter Dent G. Reza Oskrochi |
| author_facet | Sally Sims Peter Dent G. Reza Oskrochi |
| author_sort | Sally Sims |
| collection | DOAJ |
| description | This paper discusses the findings from a UK study to determine the likely impact of a wind farm on house prices using a hedonic pricing model. The Government's commitment to wind power has resulted in a massive increase in the number of wind farms sited in the UK. This has led to concerns that their visual and aural presence could have a negative impact on proximate house prices. This paper presents an analysis of 201sales transactions from houses situated within half a mile of a 16 turbine wind farm in Cornwall, UK. Whilst no causal link was established between the presence of the wind farm and house price, there was some evidence to suggest that both noise and flicker from the turbine blades could blight certain property and that the view of countryside enjoyed by the occupier had some value which may be affected by a wind farm.
Santrauka
Šiame darbe aptariami JK atlikto tyrimo rezultatai, kuriuo, taikant hedonistinį kainų modelį, siekta nustatyti galimą vėjo jėgainių poveikį namų kainoms. Vyriausybės parama vėjo energijai paskatino naujo elemento, vėjo jėgainės, atsiradimą aplinkoje; susirūpinta, ar vėjo jėgainių vaizdas ir garsas galėtų neigiamai paveikti namų kainas. Šiame darbe nagrinėjamas 201 prekybinis sandoris, susijęs su namais, pusę mylios nutolusiais nuo Bears Down, Kornvalyje (JK), esančio 16 vėjo jėgainių ūkio. Nors priežastinis ryšys tarp vėjo jėgainių ir namų kainos nepastebėtas, yra įrodymų, kad jėgainės keliamas triukšmas ir menčių mirgėjimas kai kuriems nekilnojamojo turto objektams galėtų pakenkti ir kad gyventojui patikęs kaimo vaizdas gali tapti nebepatrauklus.
First published online: 18 Oct 2010 |
| first_indexed | 2024-12-19T20:43:49Z |
| format | Article |
| id | doaj.art-f783d9709e424f48b7a2230fdbe8c139 |
| institution | Directory Open Access Journal |
| issn | 1648-715X 1648-9179 |
| language | English |
| last_indexed | 2024-12-19T20:43:49Z |
| publishDate | 2008-12-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | International Journal of Strategic Property Management |
| spelling | doaj.art-f783d9709e424f48b7a2230fdbe8c1392022-12-21T20:06:20ZengVilnius Gediminas Technical UniversityInternational Journal of Strategic Property Management1648-715X1648-91792008-12-0112410.3846/1648-715X.2008.12.251-269Modelling the impact of wind farms on house prices in the UKSally Sims0Peter Dent1G. Reza Oskrochi2Department of Real Estate and Construction, School of the Built Environment, Oxford Brookes University, Headington, Oxford, UKDepartment of Real Estate and Construction, School of the Built Environment, Oxford Brookes University, Headington, Oxford, UKDepartment of Mathematical Sciences, School of Technology, Oxford Brookes University, Wheatley, Oxford, UKThis paper discusses the findings from a UK study to determine the likely impact of a wind farm on house prices using a hedonic pricing model. The Government's commitment to wind power has resulted in a massive increase in the number of wind farms sited in the UK. This has led to concerns that their visual and aural presence could have a negative impact on proximate house prices. This paper presents an analysis of 201sales transactions from houses situated within half a mile of a 16 turbine wind farm in Cornwall, UK. Whilst no causal link was established between the presence of the wind farm and house price, there was some evidence to suggest that both noise and flicker from the turbine blades could blight certain property and that the view of countryside enjoyed by the occupier had some value which may be affected by a wind farm. Santrauka Šiame darbe aptariami JK atlikto tyrimo rezultatai, kuriuo, taikant hedonistinį kainų modelį, siekta nustatyti galimą vėjo jėgainių poveikį namų kainoms. Vyriausybės parama vėjo energijai paskatino naujo elemento, vėjo jėgainės, atsiradimą aplinkoje; susirūpinta, ar vėjo jėgainių vaizdas ir garsas galėtų neigiamai paveikti namų kainas. Šiame darbe nagrinėjamas 201 prekybinis sandoris, susijęs su namais, pusę mylios nutolusiais nuo Bears Down, Kornvalyje (JK), esančio 16 vėjo jėgainių ūkio. Nors priežastinis ryšys tarp vėjo jėgainių ir namų kainos nepastebėtas, yra įrodymų, kad jėgainės keliamas triukšmas ir menčių mirgėjimas kai kuriems nekilnojamojo turto objektams galėtų pakenkti ir kad gyventojui patikęs kaimo vaizdas gali tapti nebepatrauklus. First published online: 18 Oct 2010https://journals.vgtu.lt/index.php/IJSPM/article/view/6769Property stigmaResidential valuesWind‐powerRenewable energyHedonic |
| spellingShingle | Sally Sims Peter Dent G. Reza Oskrochi Modelling the impact of wind farms on house prices in the UK International Journal of Strategic Property Management Property stigma Residential values Wind‐power Renewable energy Hedonic |
| title | Modelling the impact of wind farms on house prices in the UK |
| title_full | Modelling the impact of wind farms on house prices in the UK |
| title_fullStr | Modelling the impact of wind farms on house prices in the UK |
| title_full_unstemmed | Modelling the impact of wind farms on house prices in the UK |
| title_short | Modelling the impact of wind farms on house prices in the UK |
| title_sort | modelling the impact of wind farms on house prices in the uk |
| topic | Property stigma Residential values Wind‐power Renewable energy Hedonic |
| url | https://journals.vgtu.lt/index.php/IJSPM/article/view/6769 |
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