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Abstract:

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CentrePiece Article
Gone with the wind
Steve Gibbons
October 2014
Paper No' CEPCP433:
Full Paper (pdf)

CentrePiece 19 (2) Autumn 2014


JEL Classification: R; Q


Tags: housing prices; environment; wind farms; infrastructure

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.

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