Will underground power increase property prices in North Perth?
Western Power, the WA State Government and the City of Vincent are working together to convert existing overhead power lines to underground power.
In news for prospective buyers of real estate, and existing homeowners in North Perth, Mt Hawthorn, West Perth, and Leederville, new work is coming to install underground power. The City of Vincent announced last Friday, 16th December, that it is working together with the State Government and Western Power to install unground power to more than 10,000 properties by the end of 2028. The work is a part of the Network Renewal Undergrounding Program Pilot.
As noted in a previous article on Hilton Property Prices, similar works have been thought to have a positive impact on property prices, almost certainly once the works are complete. Whilst it can be difficult to determine exactly how property prices are affected by infrastructural work there are a number of factors that have a positive impact.
According to Western Power Some of these factors include:
- improved public safety
- fewer disruptions from storm damage
- a more aesthetically pleasing street scape
- reduced tree pruning, and therefore larger trees
- reduced maintenance and operating costs
- improved opportunities for emerging technologies
On the City of Vincent website Mayor Emma Cole mentioned,
“We are excited to bring underground power benefits to Vincent,”
“This is the most affordable option for underground power that has been offered to the City and property owners.
“Our dream of flourishing tree canopies is being brought to life thanks to this once-in-a-generation opportunity.
“Through the ongoing underground power rollout throughout Vincent, streetlights will be replaced with bright energy-efficient LED lights so that our community can safely walk and exercise in their neighbourhoods in the evenings.”
Four stages of underground power roll out.
Following the signing of a Memorandum of Understanding with Western Power in May 2022 a commitment was made to commence work in areas where ageing power lines presented a greater risk. Phase 1 is targeting North Perth/Mount Lawley, North Perth/Mount Hawthorn and Perth/Highgate.
A rolling fund has been established in the 2022-23 budget that contains a 7.3% rate rise to assist with current and future projects
In July 2022 Western Power committed to five more underground power projects in Perth, Highgate, Mount Hawthorn, North Perth, Leederville and West Perth as part of the future NRUP.
Primary equipment sites have been selected for the installation of electrical infrastructure including mounted transformers and other equipment for distributing electricity. Artwork and vegetation screening are being considered as options to reduce the visual impact of the primary equipment sites.
Read more on the City of Vincent website.
You might also be interested in
Sep 14, 2023
Spring Selling Season: How to Prepare Your Home for the Market
Spring is synonymous with new beginnings. As flowers bloom and trees regain their green, many homeowners consider this the ideal time to put their property on the market. If you're one of them, ensuring your home stands out to potential buyers is crucial. Here's a guide to help you prepare: 1. Conduct a Home Review Before anything else, take a detailed walk-through of your property. This isn't just a casual stroll; it's an opportunity to view your home through a buyer's eyes. Create a room-by-room action list, noting down areas that need repairs, a fresh coat of paint, or just a bit of sprucing up. 2. Depersonalise Your Space While your family photos and personal mementos hold immense value to you, they might make it challenging for potential buyers to envision themselves in the space. Aim to present your home as a blank canvas. Store away personal items, allowing buyers to imagine building their own memories there. 3. Declutter and Organise A cluttered space can be off-putting. Remove excess furniture and items that might make rooms feel cramped. Not only does this make the space feel bigger, but it also gives you a head start on packing. Remember, less is often more when showcasing a home. 4. Get a Head Start on Packing Speaking of packing, why wait until the last minute? Begin packing non-essential items early on. This reduces stress as the moving date approaches and helps in presenting a neat, organised home to potential buyers. 5. Seek Professional Assistance Selling a home isn't a one-person job. Enlisting help can make the process smoother and more efficient. Did you know many professionals offer home organising services? These experts can provide invaluable advice on presenting your home in the best light. Talk to us today about finding someone who can help you in this area. Bonus Tip: Refresh Your Garden Spring is all about nature's beauty. A well-maintained garden can significantly enhance your property's appeal. Mow the lawn, trim the hedges, and consider planting some seasonal flowers for a burst of colour. Selling your home in spring is a strategic move. With more daylight hours and the natural beauty of the season, homes often appear more inviting. However, it's essential to put in the effort to ensure your property stands out in this market. By following the above tips and seeking professional guidance, you'll be well on your way to a successful sale. Ready to Spring into Action? ? Don't let the season pass without maximising your home's potential. For more tailored advice and a comprehensive guide on preparing your property, book a consultation with our experts today.
Aug 8, 2023
The Settlement Journey: A guide for homebuyers
The Settlement Journey: A Guide for Homebuyers Buying a home is a significant milestone in anyone's life, and for first-time buyers, it can be both thrilling and overwhelming. The settlement process, in particular, may seem complex and time-consuming. To ease the burden and help you navigate this journey with confidence, we have put together this informative timeline. Here's a step-by-step guide to what is required from you, the purchaser, when buying a house. Step 1: Making the Offer When you find a house that captures your heart, approach the sales agent and request an Offer Form or Contract of Sale. Take your time to carefully review the document, ensuring that all special conditions are included, and any changes are initialed. Most importantly, remember to nominate your chosen settlement agent as your Conveyancer on page 2 of the Contract of Sale. Step 2: Congratulations! Your Offer is Accepted The seller has accepted your offer, and now it's time to ensure all the conditions outlined in your offer are met for the smooth settlement of the transaction. Start by paying the deposit to the Selling Agent's trust account. Additionally, promptly send the Contract of Sale to your settlement agent. If your offer included conditions for a timber, pest, or building inspection, take immediate action to arrange these inspections and send us the results for verification. For those who have included a finance clause, waste no time in commencing your finance application with your broker. Keep us informed of your progress and let us know when you receive finance approval. Don't forget to plan your final inspection with the Selling Agent and set up new gas and electricity accounts in preparation for the move. Step 3: Securing Finance Approval Once you have received finance approval, it's time to take the following steps: Sign all settlement documents Sign all bank contracts Prepare your funds for settlement At this point, you can entrust your settlement agent to handle the settlement process on your behalf. Step 4: Settlement Day On the day of settlement, relax and let your settlement agent handle the intricacies. They'll ensure all necessary steps are taken care of so that you can focus on the excitement of owning your new home. Once settlement is complete, you can collect the keys from the sales agent and embark on your new journey as a homeowner. The home buying journey, especially the settlement process, can be complex, but with careful planning and the right guidance, it can also be an exciting and rewarding experience. By following this handy timeline and relying on the expertise of your settlement agent, you can confidently navigate the settlement journey and soon call yourself a proud homeowner. Congratulations on taking this important step towards securing your dream home!