Study says turbines don’t depress home values

The most recent survey of property values in areas where the Ontario government is building wind turbine farms has concluded that there is little effect on the value of nearby properties with some isolated exceptions. Others, like local real estate agents, say the value of such homes has declined by as much as 50 percent against homes in turbine-free areas. The parameters of the recent study are not very clear, at least as explained in news reports. The researchers are Richard Vyn and Ryan McCullough of the University of Guelph.  It seems intuitive that homes from which turbines can be seen and heard are going to suffer reduced values whereas those which are close to, but out of sight and beyond the sound of wind turbines, would be more stable in value. Dave Launchbury, who has been selling real estate in the wind-farm area of Melancthon 100 kilometres northwest of Toronto for seven years, says there appears to be a growing stigma attached to properties near turbines. Many potential buyers won’t even look at them, he said. Launchbury estimated properties close to turbines sell for “at least” 10 per cent less. As you may have guessed, the picture above is not a true picture of what residents see as they drive out of Bennington Heights or Leaside. But we are guessing if it were, your house prices would be under water. Hope we didn’t scare you.