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Investigation launched into wind farm property prices

A committee will look into the effect that wind farms have on the value of nearby property.
<p $$hash="10897-0"><span $$hash="10881-0">A South Australian parliamentary investigation has been launched into the impact wind farms can have on property prices.

<p $$hash="10905-0"><span $$hash="10883-0">It follows a Federal Court decision which found that wind farm developments have the potential to reduce the value of surrounding property, ABC news reported.

<p $$hash="10907-0"><span $$hash="10906-0">Committee chairman David Ridgway said that this ruling has caused a current South Australian parliamentary investigation into wind farm developments to expand in order to address these concerns.

<p $$hash="10908-0"><span $$hash="10909-0">He told the source that the concern is not as simple as lowered property prices.

<p $$hash="10911-0"><span $$hash="10910-0">"There's a flow-on effect that if somebody is using that property for equity, to expand a farming operation or their business operation and of course suddenly if it does have an effect on their property values, it does have a flow-on effect to their banking and finance arrangements," he said.

<p $$hash="10878-0"><span $$hash="10877-0">"So it's a very important issue that we hope to get some clarity on before the committee reports.”

<p $$hash="10913-0"><span $$hash="10912-0">Wind farms have been a very contentious topic for some areas of Australia, with a recent report published by the Guardian putting paid to some claims that they cause an array of illnesses.

Posted by Ravin Chatlani

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