Power lines and pylons can reduce the value of nearby homes by an average of £12,000, according to research from the London School of Economics (LSE). …
As well as accounting for traditional electricity infrastructure, the LSE study suggests a similar financial impact from homes located near wind turbines and solar farms.
Based on an average loss of value of 3.9%, a £1 million home would be worth around £40,000 less if power lines were built nearby.
When applied to the average U.K. house price of £300,000, the same calculation leads to a £12,000 drop in value.
However, for others the loss would be far greater – as the 3.9% average only applies to homes located within 1,500 metres of pylons or power lines.
That could rise to a 21% reduction if a property is within 250 metres, implying a £63,000 drop in value for an average £300,000 home.
The results of the LSE analysis will raise concerns for Ed Miliband as the Energy Secretary prepares to install a raft of new pylons across the U.K. alongside 1,000 miles of onshore cable.
To carry out the study, LSE professor Steve Gibbons and former PhD student Cheng Keat Tang researched the change in sale value of 38,000 homes in England and Wales located near pylons or power lines....<<<Read More>>>....