VIC Why this house sold so low

hi there

Any idea why this house would sell so low at 840k ?

Check out this property I found in Glen Waverley Vic 11 Windella Crescent, Glen Waverley, Vic 3150 - Property Details

It’s much below the average market price despite having 1132 SQM land

What am I missing

Cheers

 

high voltage power lines right behind it (and probably through the backyard)
You can see it from the photos as well as google maps.
Google Maps

 

Kicking myself for failing to notice that
Have to stop thinking that transmission lines would always have a clear reserved path

Cheers

 

The give away was in the real estate link - you can see multiple lines above the roof.

 

Yeah the first photo had these lines, but I assumed them to be domestic power lines

The towers were cleverly hidden by the trees in the picture

Cheers

 

That's why you have professional photoshoots..

This one is a classic though
Real estate photo advertises house for sale with overshadowing tower missing from the picture

 

HT lines adjacent houses are a ***** to sell

I was under the impression that the discount is only 20-25% but in this case looks like it was closer to 50%

Cheers

 

Too close to HT powerlines is amnoying to finance too. Tough to get more than 80% LVR. This limits your buyer pool when you are ready to sell.

 

My PPOR was discounted around 25%.
Certainty would recommend it to others! We would not have been able to afford to buy a house in our area on a quarter acre block otherwise.
To be honest, I notice the power lines maybe once every two months and I'm in the backyard every day.

Would I buy an IP with a powerline easement? Probably not, unless it was predominantly for yield rather than capital gains or a commercial property.

 

All the scares are rubbish though, there isn't a study that I could find that showed a statistically significant difference for risks living under powerlines.
Prior to purchasing, I also went and measured the EMF and it was lower standing right underneath the powerlines than it was at the local shopping centre.

People will tell you to run for the hills (conveniently that's where I live) when they see powerlines, but they'll happily talk on their mobile phones and work all day in a city office right next to underground HV cables that they don't even know about.

 

I had a client who purchased land and built on a hill, with some powerlines running through the backyard.
He was a physics lecturer at uni and provided me with pages and pages of study showing no evidence of increased risk.

 

Doesn't matter what is true or not re powerlines. Perception is king.

 

Would renters take the property or they would also look for rebate ?

Cheers

 

They'd likely look for a rebate, but not a 25% one.

 

If there was one iota of risk, would the government have allowed child care centres to operate in the vicinity ?

I think not
Moreover even the parents would have refrained from admitting their child in such centres

Cheers

 

This one 660sq 3bedroom house fully renovated 7 years ago, 40 year old house, terribly close to power line and terribly close to super busy Springvale rd, 4 bidders, sold today $1.265m. Go figure

4 Whites Lane Glen Waverley Vic 3150 - House for Sale #128847730 - realestate.com.au

 

You cannot build under an easement for power. Just enjoy the serenity.