Are big overhead powerlines a turn off?

I'm trying to make sense of this sale:

Sold 39 Terowi Street, Sunnybank Hills QLD 4109 on 27 Jan 2021 - 2016687602 | Domain

A huge beautiful house on over 1,000sqm in a blue chip Brisbane suburb sold for $730k. My jaw hit the ground when I saw that. I expected $1m or more (and that's being generous).

Then I remembered it has a series of those uber-sized power lines literally along its back fence.



Obviously this is junk science. But did the buyer get lucky or is this a turn off for most people, along the lines of cemeteries etc? I'm not a superstitious person so I'm kind of tone deaf to the effects of cemeteries, murders, feng shui, coronavirus causing 5G towers etc. I mean I know murders are a big thing but power lines? Really? Could it be...enough to slice 20-30% off the price?! My gut feel was it might impact it by 10% tops, so this is kind of blowing my mind.

 

I'm sure the powerlines affected the price but Sunnybank Hills is pretty far out for Brisbane standards.

And not a premium suburb by any stretch - its closer to Logan than Brisbane.

 

Yes !
Was trying to find previous dicussion on tbis to link
Transmission Pylon and Ppwerlines [NSW]
In the distance fine
Being "next door" can limit how close you can build (example, you want to add a carport =no, new colorbond steel boundary fence= no ).

Yes, it will need to be at a discount when buying, as when selling the stigma will reduce the price, can be the same with renting (perception of health issues)

People pay considerably more for views (landscape, river, ocean)
People don't rush in to buy with views of a commercial area or coal power station........

 

The demographic there doesn’t care about proximity to CBD. They don’t work there for the most part (I grew up there, I don't think I knew a single adult that worked in town). Think of it like Glen Waverly in Melbourne which is yonks from the CBD.

 

Electricity and health

From link:
there are some epidemiological (population) studies that have reported a possible association between prolonged exposure to ELF magnetic fields at levels below the exposure limits but higher than what is typically encountered and increased rates of childhood leukaemia. Based largely on this limited evidence the International Agency for Research on Cancer has classified ELF magnetic fields as possibly carcinogenic to humans.

For homes near high voltage (HV) powerlines the magnetic field exposure will vary according to the amount of current carried by the powerline and the distance of the home from the powerline. Generally, homes that are more than 50 m from a high voltage powerline are not expected to have higher than typical magnetic fields

...and that's quite enough for me and most discerning buyers to look elsewhere for a place to raise a family...

 

Speaking of neighboring properties, I remember years ago seeing this one sell for "cheap" (it's just down the road):

Sold 3 Grandchester Street, SUNNYBANK HILLS QLD 4109 on 08 Feb 2014 - 2010955074 | Domain

I remember thinking at the time it was a bargain. I wasn't even thinking of the overhead lines at the time, but now it all makes sense.

 

I would personally avoid properties close to powerlines and major roads

 

There is also a lending problem with properties too close to high tension powerlines. Obviously because of the perceived value problem so be very careful as your lender (either via the valuer or direct) may have issues with proximity. Every lender's policy is different so perhaps some of the mortgage brokers on here could shed a little more light on this, but I do know it can be an issue.

- Andrew

 

And it’s not just the high tension wires in this instance.

A major gas line runs under those towers along the same easement. An engineer neighbour told us that he would be more worried about a gas line fault than the overhead wires.

Both are a major turn-off for most buyers. You will buy cheap, but will one day sell cheap.

 

had no idea about the gas. Thanks

 

Just had a valuation that came back 15% lower then purchase price because of the powerlines.

See you later

 

Not Dad, he reckons powerlines are a reminder of man's ability to generate electricity.