In “Energy rating adds to value 160711“, an article by Robert Harley published on the Weekend Australian Financial Review on July 16-17.
The article explains how the pricing of carbon through the hotly debated Carbon Tax reform would benefit owners of energy efficient homes, with the rise in energy prices focusing attention on saving energy. It would also create an incentive for buyers and renters to look closer at energy ratings of homes being sold or leased.
The author cites the federal government (ABS) study on the ACT real estate market which found that property value increased with higher energy ratings, “by almost 2 percent for each half star” [out of 5 stars]. The study was investigating the effect of residential mandatory disclosure, a legislation the ACT has had since 1999 that requires disclosure of energy ratings when selling or leasing property.
Residential mandatory disclosure legislation is set to be implemented nationally in 2012-2013, by agreement of the state governments. The regulatory impact statement (RIS) detailing the legislation and its potential impacts is due soon – keep an eye on our residential mandatory disclosure webpage for more information.