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Paper No' CEPCP433: | Full paper
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Keywords: Housing prices, environment, wind farms, infrastructure
JEL Classification: R; Q
Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: CentrePiece Magazine
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Abstract:Wind farms reduce house prices in postcodes where the turbines are visible, according to research by Steve Gibbons. Households are willing to pay £1,000 a year to avoid a large wind farm visible within 2km. His study notes that wind turbines are generally popular as a source of green energy but they face considerable opposition from the people who have to live near them. He uses local property markets as a way to value the visual impact of ‘wind farms’ and finds significant negative effects on house prices in postcodes where the turbines are visible.
CentrePiece 19 (2) Autumn2014 pages: 24-26
This article summarises ‘Gone with the Wind: Valuing the Visual Impacts of Wind Turbines through House Prices’ by Steve Gibbons, Spatial Economics Research Centre (SERC) Discussion Paper No. 159, April 2014
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