PRESS RELEASE

HAPPY NEW YEAR- 20% FALL IN PROPERTY PRICES BLOWING IN THE WIND?

The September 2004 Survey by the Royal Institution of Chartered Surveyors [“RICS”], the leading independent body concerning issues relating to property and land in the UK, indicates that 77% of Surveyors in the South West who have experience of residential transactions affected by wind farms reported that values were negatively impacted.

The next big question is how much are values negatively impacted?

Available evidence suggests that it could be up to 20%; as reported in The Times on 10^th January 2004, Judge Michael Buckley ruled that the value of a remote house in Marton in the Lake District fell by 20% due to the construction of a wind farm 500 metres away.

A spokesman for KNOll to Wind Farm says

“The RICS survey defined those transactions as affected by wind farms as those “where a wind farm is visible from the property”.

For the commercial wind development proposed at Inner Farm, this must cover, at the very least, Burnham-on-Sea, parts of Highbridge and Berrow, Brent Knoll, and Edithmead.

We have been advised that the average sale price of property in Burnham on Sea over the past two years was approximately £146,000.

A fall in value of 20% of £146,000 is almost £30,000.

When multiplied by the number of houses in the area, this could mean millions of pounds of wealth at risk in the local economy

As well as potential personal distress that might be caused by this, what would be the knock on affects for local businesses? ”

For further information about “KNOll to Wind Farm” contact Andrew Manning on 07765 896781.