Towers, Turbines and Transmission Lines: Impacts On Property Value

Studies show that there are concerns about devices and structures that emit electromagnetic fields (EMFs) due to potential health hazards from these. Proximity to structures that affect property value includes high voltage overhead transmission lines (HVOTL) and cellular phone towers. Despite some research reports suggesting there are no potential adverse health hazards from HVOTLs and towers, there is still ongoing concern about the siting of these structures due to fears of health risks from exposure to EMFs, changes in neighbourhood aesthetics and loss in property values. The siting of wind turbines is also receiving community opposition due to noise, light flicker, changes in neighbourhood aesthetics, and loss in property values. The extent to which such attitudes are reflected in lower property values affected by these structures is not well understood.

Outlining results of studies conducted in the US, the UK, Australia and New Zealand the book aims to provide guidance to valuers (as well as property/real estate appraisal students and property owners) around the world with defensible tools that are becoming widely accepted to assess the effect that these environmental detriments have on property prices. The authors have been undertaking research in this area for many years and believe that their experience and that of others who have contributed to this book will assist practitioners and their clients.

Keywords: Property & Real Estate