Will underground power increase property prices in North Perth?

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.