For Sellers
The Opportunity
For sellers who have time to make home improvements before the sale, the first priority is to maximise the value of the property before the hammer lands. With mandatory disclosure of residential energy efficiency set to start in 2012, the Australian housing market is becoming aware of the positive relationship between energy efficiency and property value.
In the ACT, where mandatory disclosure has been in place since 1999, a government study has shown that a one star improvement (out of 5 stars maximum) in energy efficiency rating led to an average 3% increase in property value for houses sold. Indeed, the study suggests that ‘location, location, energy rating’ has replaced the traditional real estate mantra of ‘location, location, location’.
Never before has it been so crucial to make sure your property achieves the best energy star rating if you plan to sell your property at maximum value.
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Current and Future Issues
Since 2005, all new houses have been built to a minimum standard of 5 stars (out of 10 maximum). However, from mid 2011, the bar will be raised to 6 stars. Most houses built before 2005 are only 1 or 2 stars out of 10. When mandatory disclosure is introduced, this will translate into a large competitive advantage in the real estate market for new houses over those that are old and inefficient.
The advantage for new efficient houses will be amplified by the current roll-out of smart meters across Australia, which will enable electricity retailers to charge for energy use according to the time of day – electricity will be significantly more expensive in peak hours (usually early evening), and home buyers will place more importance on the energy running costs of a potential purchase.
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Our Solution
As an industry pioneer, we offer two distinct solutions – EnergyStart, a fast house energy rating including the potential energy star rating that the house can achieve; and the Energy Makeovers Roadmap, which includes a comprehensive assessment of the home’s performance and lists recommendations of suitable home improvement projects, ranked by cost-effectiveness. The Roadmap also clearly visualises the path to increasing energy star rating, and how this could affect the property value once mandatory disclosure commences.
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Your Future
Awareness of the impending mandatory disclosure is building in the real estate market. Sellers of houses built before 2005 can maximise the value of their property through improving energy efficiency and do their bit towards a sustainable future. Don’t get left behind by the market – if you plan to sell or lease your property in the near future, be prepared.
The Opportunity
For sellers who have time to make home improvements before the sale, the first priority is to maximise the value of the property before the hammer lands. With mandatory disclosure of residential energy efficiency set to start in 2012, the Australian housing market is becoming aware of the positive relationship between energy efficiency and property value.
In the ACT, where mandatory disclosure has been in place since 1999, a government study has shown that a one star improvement (out of 5 stars maximum) in energy efficiency rating led to an average 3% increase in property value for houses sold. Indeed, the study suggests that ‘location, location, energy rating’ has replaced the traditional real estate mantra of ‘location, location, location’.
Never before has it been so crucial to make sure your property achieves the best energy star rating if you plan to sell your property at maximum value.
Current and Future Issues
Since 2005, all new houses have been built to a minimum standard of 5 stars (out of 10 maximum). However, from mid 2011, the bar will be raised to 6 stars. Most houses built before 2005 are only 1 or 2 stars out of 10. When mandatory disclosure is introduced, this will translate into a large competitive advantage in the real estate market for new houses over those that are old and inefficient.
The advantage for new efficient houses will be amplified by the current roll-out of smart meters across Australia, which will enable electricity retailers to charge for energy use according to the time of day – electricity will be significantly more expensive in peak hours (usually early evening), and home buyers will place more importance on the energy running costs of a potential purchase.
Our Solution
As an industry pioneer, we offer two distinct solutions – EnergyStart, a fast house energy rating including the potential energy star rating that the house can achieve; and the Energy Makeovers Roadmap, which includes a comprehensive assessment of the home’s performance and lists recommendations of suitable home improvement projects, ranked by cost-effectiveness. The Roadmap also clearly visualises the path to increasing energy star rating, and how this could affect the property value once mandatory disclosure commences.
Your Future
Awareness of the impending mandatory disclosure is building in the real estate market. Sellers of houses built before 2005 can maximise the value of their property through improving energy efficiency and do their bit towards a sustainable future. Don’t get left behind by the market – if you plan to sell or lease your property in the near future, be prepared.