Towers, Turbines and Transmission Lines: Impacts On Property Value

From the Foreword by Dr Valmond Ghyoot, Emeritus Professor of Real Estate, University of South Africa : ‘The valuation profession, the legal profession, property industry participants in general and students will welcome publication of this book. Investors, environmental groups and affected property owners will find essential information for use in their decision–making, development objections and claims. My hope is that [it] will provide answers where required and that it will help to improve the professional standard of valuations and appraisals internationally. I trust that it will also raise the standard of testimony in damages cases. If so, the editors and contributors will have succeeded in documenting the state of the art in this relatively unexplored terrain.’ As a reference source, this book will help quantify the negative impacts on property values of high voltage overhead transmission lines, cell phone towers, and wind turbines. It gives a modern perspective of the concerns property owners have about the siting of industrial structures used to transmit or generate various forms of energy and how these concerns impact on property values. Studies reveal concerns the public have about devices and structures that emit electromagnetic fields (EMFs) due to their potential health hazards. . Despite some research reports suggesting there are no potential adverse health hazards from high voltage overhead transmission lines (HVOTLs) and towers, there is still on–going 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, aesthetic concerns, and loss in property values. The extent to which such attitudes are reflected in lower property values is not well understood. Towers, Turbines and Transmission Lines: Impacts on Property Value outlines results of studies conducted in the US, the UK, Australia and New Zealand and offers guidance to valuers as well as to property/real estate appraisal students and property owners around the world. The book provides defensible tools that are becoming widely accepted to assess the effect that these environmental detriments have on property prices. INDICE: About the Editors and Contributors ix Foreword by Valmond Ghyoot xiii Chapter 1 Introduction 1 Peter Dent and Sally Sims 1.1 Valuation and Environmental Attributes 1 1.2 Risk and Stigma 2 1.3 Media Impact 4 1.4 Methodologies 5 1.5 Book Structure 7 Chapter 2 Methods 11 David Wyman, Peter Dent and Sally Sims 2.1 Introduction 11 2.2 Sales Comparison Method 11 2.3 Regression Analysis 12 2.4 Hedonic Modelling 13 2.5 Spatial Hedonic Modelling 15 2.6 Qualitative Analysis 19 2.7 Triangulation 21 2.8 Conclusions 22 Chapter 3 Risk Perception, Stigma and Behaviour 27 Peter Dent and Sally Sims 3.1 Introduction 27 3.2 Risk and its Perception 27 3.3 Risk Communication 29 3.4 Risk Behaviour 31 3.5 Perception and Risk Management 32 3.6 Property Advice 34 3.7 Property–related Stigma 35 3.8 Assessing Stigma 37 3.9 Property Behavioural Research 38 3.10 Conclusions 40 Part I High–voltage Overhead Transmission Lines (HVOTLs) and House Prices 45 Introduction 47 Sally Sims I.1 Introduction 47 I.2 Residential Property Values near HVOTLs 51 Chapter 4 HVOTLs in the UK 55 Sally Sims and Peter Dent 4.1 Introduction 55 4.2 Existing Research 57 4.3 Barriers to Research in the UK 58 4.4 Value Impacts in the UK 58 4.5 Conclusions 68 4.6 Additional Research 69 Chapter 5 HVOTLs in New Zealand 81 Sandy Bond 5.1 Introduction: Electricity Distribution and Planning Guidelines 81 5.2 Health Concerns Relating to Proximity of HVOTLs Which Affect Value 82 5.3 Background to the NZ Research 83 5.4 Literature Review 84 5.5 Case Study Description 85 5.6 Market Analysis using a Hedonic Housing Model 87 5.7 An Attitudinal Study of Residents’ Perceptions 91 5.8 Summary and Conclusions 94 Chapter 6 A Review of HVOTL Studies in North America 101 David Wyman and Elaine Worzala 6.1 A Review of Existing Research 101 6.2 Hedonic Studies in the USA 104 6.3 Conclusion 109 Summary 115 Peter Dent Part II Cell Phone Towers 117 Introduction 119 Sandy Bond II.1 Introduction 119 II.2 Cellular Phone Systems 119 II.3 History 121 II.4 Siting Issues and Public Concerns 123 Chapter 7 Cell Phone Towers in New Zealand 131 Sandy Bond 7.1 Introduction 131 7.2 Review of Existing research 132 7.3 New Zealand Case Study 135 7.4 Research Procedure: Opinion Survey 137 7.5 Research Procedure: Market Study 145 7.6 Summary and Conclusions 160 Chapter 8 Cell Phone Towers in North America 169 Sandy Bond 8.1 Introduction 169 8.2 Locating Cell Sites in the USA 169 8.3 Case Study Area and Data 172 8.4 Research 175 8.5 Summary and Conclusions 179 Chapter 9 Cell Phone Towers in the UK 185 Sally Sims 9.1 Introduction 185 9.2 Types of Cell Towers 185 9.3 Planning Considerations 186 9.4 Developing a Framework to Establish the Impact on Value 187 9.5 UK Research 189 9.6 European Study 193 9.7 Conclusions 194 Summary 199 Sandy Bond Part III Wind Farms 203 Introduction 205 Sally Sims III.1 Wind Energy 205 III.2 Cost of Building Turbines and Generating Energy from the Wind 206 III.3 Land Use 207 III.4 The Growth of Wind Energy 207 III.5 Planning and Development 208 III.6 Barriers to Development 209 III.7 The Need for Research 209 Chapter 10 Wind Farms in the UK 213 Sally Sims and Peter Dent 10.1 Introduction 213 10.2 The Growth of Wind Energy in the UK 214 10.3 Existing Research 218 10.4 Proposal Objections: Case Studies 223 10.5 Valuation Research: Cornwall Case Studies 229 10.6 Conclusions 238 Chapter 11 Wind Farms in North America 253 Ben Hoen 11.1 Introduction 253 11.2 Previous Research 254 11.3 Present Research 257 11.4 Robustness Tests 266 11.5 Conclusions 267 Chapter 12 Wind Farms in Australia and New Zealand 289 Sandy Bond 12.1 Introduction 289 12.2 Existing Research 294 12.3 Methodology 296 12.4 Survey Results 300 12.5 Summary and Conclusions 309 Summary 321 Peter Dent Chapter 13 Conclusion 325 Peter Dent and Sally Sims 13.1 Introductory Section (Chapters 1–3) 326 13.2 Part I (Chapters 4–6) 327 13.3 Part II (Chapters 7–9) 328 13.4 Part III (Chapters 10–12) 329 13.5 Concluding Remarks 330 Index 333

• ISBN: 978-1-4443-3007-6
• Editorial: Wiley–Blackwell
• Encuadernacion: Cartoné
• Páginas: 352
• Fecha Publicación: 16/04/2013
• Nº Volúmenes: 1
• Idioma: Inglés