Myth #6: House Prices

Myth

“Fracking will not affect house prices.”

 

Fact

“House prices in close proximity to the drilling operations are likely to fall. There could be a 7% reduction in property values within one mile of an extraction site.”- the government’s draft Shale Gas Rural Economy Impacts Paper

A study of house prices in the USA, published in the American Economic Review, concluded that the value of homes in Pennsylvania within 1 km of fracking wells fell by 12.9%.

Furthermore, according to an investigation by the Independent on Sunday, companies representing two thirds of the UK insurance market will not insure against damage caused as a result of fracking, or else have exemptions covering pollution of water from the controversial technique.

See also:  Get Informed > House Prices

 

More comprehensive information and references can be found here.