Powercor engaged Urbis to assess the potential impact on market value of a proposed substation in Ballarat East on 132 nearby residential properties. The area had been zoned for a substation since 1973, but the local community was concerned about potential property devaluation. Despite no legislation mandating compensation, Powercor sought to calculate potential voluntary payments to homeowners.
Urbis analysed various substations case studies across Melbourne to determine any discernible impact on market value. The findings from these case studies was then applied to the Ballarat East properties to estimate potential value reductions. This data-driven approach enabled Powercor to calculate potential voluntary payments.
Additionally, our team attended community engagement sessions addressing homeowners’ concerns directly and providing evidence from comparable substation affected sites. This engagement helped alleviate fears about the substation’s impact.
“Our data-driven impact assessment enabled Powercor to calculate voluntary payments for homeowners potentially affected by a proposed substation, helping to alleviate community concerns about property devaluation.
