VIC Mulgrave Waverley Park

Discussion in 'Property Analysis' started by poordingo, 5th Jan, 2021.

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  1. poordingo

    poordingo New Member

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    Oakleigh
    Anyone bought in Mulgrave Waverley Park Garden townhouses developed by Mirvac? The new townhouses are close to the HV Powerline. What are the chances to get the home loan approved for those new builds?
    Thanks.
     
  2. The Y-man

    The Y-man Moderator Staff Member

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    IMHO unlikely to get a knock back on home loan unless their is a tower in the back yard (and even then I'd be surprised).

    It's a <300kV line as well so not as bad as having 2 x 500kV running through.

    The Y-man
     
  3. poordingo

    poordingo New Member

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    Thanks The Y-man. As per my research the powerlines runs approx. 22.5 meter from the lot. 10 meter away from easement. They have recently dismantled the lattice tower. The new Infrastructure is greater in height than the dismantled towers and has resulted in the Transmission Lines being raised. I am considering to get a PPOR which is OTP. Not sure if lenders would likely to see this project being risky.
     

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  4. The Y-man

    The Y-man Moderator Staff Member

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    How much of a discount have you got compared to properties say a block further away?

    The Y-man
     
  5. poordingo

    poordingo New Member

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    10k, also land is ~60sqm bigger than the blocks further away.
     
  6. The Y-man

    The Y-man Moderator Staff Member

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    I'd say it's a lot better chance of getting thru than a highrise apt in the CBD! (1. it's a house 2. reputable builder)
    Hit your broker with the proposal and see what they say.

    The Y-man

    Declaration of interests: I have no shares of MVR at present. ;)