Appraiser Ben Lansink published a Property Value study in southern Ontario that finds property value losses between 8% to 40% in proximity to pits and quarries. Read full report HERE. As the Forterra quarry gets CLOSER and CLOSER to the Tyandaga neighborhood (in some case ~40M) there could be a significant negative affect on our house prices
EXCERPTS
“The creation of a Pit or Quarry creates apprehension in the general public, which makes the property less desirable and thus diminishes the prices of neighboring property. Continuing scientific uncertainty over the adverse health consequences of a neighboring Pit or Quarry only serves to perpetuate the debilitating effect of Pits or Quarries on property prices.”
“Each example in this study illustrates some type of ‘harm’ or ‘injurious affection’ that can be caused to a real property as a result of a Pit or Quarry. The harm may be real or perceived and it may be different for each property and to each property seller and buyer. “
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