October 25 2014 Latest news:
Friday, July 18, 2014
Campaigners fighting against plans to erect three wind turbines in Haddenham say thousands of pounds could be wiped off the value of every home in the village if the scheme goes ahead.
The Stop Berry Fen Wind Farm group cite a report published in the spring by Professor Stephen Gibbons, of the London School of Economics, which covered more than a million homes in close proximity to large wind farms over a 12-year period.
Professor Gibbons found that the values of property close to and within sight of large wind farms fell by up to 12 per cent when located within two kilometres - falling to three per cent at distances up to 14km.
Professor Gibbon’s conclusions were applied to wind farms which he deemed large – consisting of more than 20 turbines.
REG Windpower has announced its intention to build three 125-metre high wind turbines in Berry Fen, which sits between Haddenham and Aldreth, with a formal planning application entered this week.
The action group says REG stands to make hundreds of thousands of pounds out of the turbines, if they are approved, while they will receive no compensation if the value of their homes decreases.
The group also says that homes may have to be re-banded because of a fall in value- ultimately costing East Cambridgeshire District Council revenue.
Steve Cheetham, co-chairman of the action group, said: “The community stands to lose thousands of pounds per annum in Council Tax revenue when properties are re-banded.
“Even worse, as has happened to Graveley residents since the wind farm was built there, many Haddenham and Aldreth home owners will be unable to move from the village, trapped in negative equity by the reduction in value of their homes.”
A report published by the Centre for Economics and Business Research back in March also focused on the impact of wind turbines on house prices and concluded that there was “no negative impact” on property prices within a five kilometre radius.
The report was conducted and jointly funded by Renewables UK - a national body which seeks to promote the use of wind and wave energy.