Public and professional perceptions of HVOTL risks: the problem of circularity

Abstract

Property valuers in the UK are cautioned to consider the possible impact of public perception of the risk of living near high voltage overhead power transmission lines (HVOTLs). Direct evidence of this impact should be found in transaction prices of properties close to HVOTLs. These transactions, however, will likely have been conditional upon valuation advice that will have been formulated with the HVOTL-risk caution in mind. There exists, therefore a potential for circularity, the likelihood of which will increase if valuers perceive these risks differently to the public. Evidence is presented to suggest that such a difference may well exist. The implications of this finding for the specific problem and for a wider understanding of the valuation process are both discussed.

Keywords:

• Valuation
• Power Transmission Lines
• Circularity
• Perceptions
• Health Risks