Archive for February 21, 2015

Depreciation report providing accurate calculations

No doubt we can expect to witness many more cases where members of local communities situated close to existing or proposed renewable energy sites will voice their concerns. Objections tend to focus not only on the value of property, but also the impact on local economies such as tourism and plain aesthetics. DMH Baird Lumsden recently sold a farm in Central Scotland where the focal point of the property, the farmhouse, was situated overlooking an area subject to windfarm proposals. But I believe it was lack of knowledge which led to buyer reluctance in this case. Few people are likely to have seen, heard or experienced a windfarm first hand and as a result, are not prepared to take on the risk of buying a property close by.

It is the uncertainty caused by the pre-construction phase which makes people apprehensive. Had the wind turbines been fully operational, it is doubtful there would have been the same level of concern from buyers. Aesthetics are not the only issue which householders believe could lead to a reduction in property values.

Some believe the existence of a nearby windfarm represents a noisy and distracting disturbance. Certainly turbines are at their noisiest when working at full capacity but under these circumstances one would struggle to hear anything 100 yards away, let alone 500 yards away as a result of noise from the wind itself.

In certain light conditions, reflections from turbine blades can become a disconcerting distraction for its residents, which could impact on the overall enjoyment of the property. Yet, many householders welcome the prospect of living close to windfarms, and regard them as an attractive necessity in an era of impending climate change. A tax Depreciation schedule, it will augment the measure of non-money conclusions you will get in your Government form on your Venture Property. Some local communities still object, however, to their immediate environments being compromised for the benefit of thousands of other householders elsewhere. There is certainly a case to be answered here, yet it could be argued that the solution lies in passing on some of the cost savings for generating renewable energy locally to the local electricity users as well as the producer.

This may go some way to encouraging communities to regard neighbouring windfarms as their own asset, not eyesore.

That aside, the economy seems more likely to face a ‘soft’ rather than a ‘hard’ landing. The keys to the buoyancy of the housing market are of course stable rates of interest and employment and, given that both these rates have remained remarkably steady over recent months, there is little if any evidence to suggest that the Scottish housing market is overheated at present, though if we were to see similar growth rates in house prices as were achieved last year, then there might well be a danger of overheating.