Energy efficiency and sustainability have become buzzwords in the real estate industry in recent years as homeowners seek to reduce their environmental impact.
Since 2013, new apartment developments and free-standing homes have had to meet a minimum Nationwide House Energy Rating Scheme (NatHERS) rating of 6 stars as a baseline, but an economically optimal rating of 7.5 for energy efficiency. More than a star.
Analyze data from over 12.7 million Australians who have visited realestate.com.au monthly, realestate.com.auBased on the June-July 2022 Residential Consumer Omnibus Survey, this report examines supply and demand for energy efficient housing in Australia.
A row of modern energy efficient suburban homes. Source: Getty.
What is an energy-saving house?
An energy efficient home is one that reduces demand for non-renewable energy resources, wasteful energy use and greenhouse gas emissions.
Features that improve home energy efficiency include, but are not limited to:
- smart design
- Energy efficient heating and cooling
- Energy efficient hot water system
- Solar power
- window frames, glazing and shading
- draft proofreading
- Efficient lighting – use of natural light
- Energy efficient appliances – refrigerators, TVs, washing machines, dishwashers
- Selection of water recycling systems and water-saving devices and appliances
- Building materials – local materials to reduce your carbon footprint
A well-insulated home can reduce energy costs. Source: Getty.
Homeowner sets energy plan
Energy efficiency is increasingly coming to mind for real estate seekers.na
according to realestate.com.auAccording to the June-July 2022 Home Consumer Omnibus Survey, more consumers believe energy efficiency is important than in 2021.
Over 55% of respondents consider energy efficiency to be very important, a 17% increase compared to last year’s survey.
Respondents in the older age group were more concerned with the energy efficiency score than the younger group, with 62% of respondents over 65 rating it as very important.
Respondents were primarily concerned with rising electricity prices and the risk of billing shocks. Environmental concerns are still a factor in her two respondents more than she one, but the recent rise in electricity prices has been overwhelming.
Why is energy efficiency rating so important?
The number one reason consumers were interested in energy efficiency ratings and features was to reduce the usual cost on the bill. Compared to last year, she saw a 39% increase in respondents who said reducing the likelihood of claim shock would be a key factor in 2022.
More than 80% of survey respondents are concerned about rising costs of living, and 75% are concerned about rising electricity, gas, petrol and food prices.
All age groups were more concerned about the bill shock than in the previous survey, but concerns among those 65 and over increased by 64% from last year’s results.
Environmental concerns remained important, with 35- to 49-year-olds being the most concerned.
What energy efficient features are of interest to those looking for real estate?
Among all energy efficient home features, solar power is the most popular among consumers, with 71% of respondents interested in solar power. Given Australia’s average number of hours of sunshine per day, this is not surprising.
The only states or territories where solar power was not the most desired feature were ACT, where glazing took the top spot, and Tasmania, where 75% of respondents were concerned with insulation. .
Find energy efficient features in realestate.com.au
The importance of solar power to real estate seekers is also seen in the following searches: realestate.com.au.
More than 90% of all searches for energy efficient features in the last 12 months were for solar power.
Queensland has nearly doubled the number of searches for energy-efficient features compared to its closest state, Washington.
Queenslanders care about solar power, water tanks and star ratings for facilities, while Victorian searchers focus more on glass windows and hot water heating due to the cold weather. .
The search for electric car chargers is mainly in Victoria and New South Wales.
Energy Efficient List by State
In the last 12 months, ACT has sold the most homes on realestate.com.au with at least one energy-efficient feature as a percentage of all listings, with Tasmania, who took the top spot last year, It followed closely.
The ACT requires sellers to disclose their property’s star rating, so it’s no surprise that it has the most listings. If anything, the ratio is much lower than expected.
Where are the highest star ratings?
Nationally, only 7% of listings have declared a NaTHERS energy efficiency rating.
Nearly all listings (99%) in the ACT have a declared star rating, as local jurisdictions require disclosure of star ratings.
Suburbs with a higher level of new development have a higher percentage of overall listings rated. New developments have minimum required energy efficiency.
According to experts, 7.5 stars or higher is considered the best financially. Few properties meet this level of energy efficiency based on realestate.com.au listings.na
Brunswick had the most listings with a 7.5+ rating in the last 12 months, but only 7% of all listings in that period.
where from here?
Energy efficiency scores at the national and state levels are rising as new housing stock is built.
Currently, the national rating is 6.2 stars. ACT has the highest rating of 6.9 stars.
Three-quarters (74%) of new construction properties assessed in Victoria are rated 6-star, the highest of any state. However, the minimum rating allowed for new builds is 6, so in practice the developers are only building to the bare minimum.
Modern scandinavian style wooden small house in the forest. A new living philosophy to reduce your ecological footprint. Source: Getty.
The requirement to declare a NaTHERS rating in the ACT has had a positive effect on the level of importance that buyers and sellers place on energy efficient homes.na
Only ACT has a significant percentage of properties that meet the best economic rating of 7.5 stars, with 22% of properties rated higher.
Expanding this initiative across Australia could help buyers make a concerted effort to improve the energy efficiency of their properties and help meet the demand for energy efficient housing from property seekers. there is.