Surge in Real Estate Climate Consciousness
Not only has the push for climate change made its mark on the streets of Australian capital cities but the suburban and regional Australian real estate market is now seeing the force of climate change consciousness with an influx of local home buyers and renters seeking out properties that are environmentally responsible and sustainable.
As a result of a surge in buyers and renters questioning the energy efficiency of properties across Australia, First National Real Estate’s chief executive Ray Ellis is calling on states across the country and the Northern Territory to follow the lead of the Australian Capital Territory and urgently review their Energy Efficiency Rating (EER) scheme.
For many countries around the world, it is compulsory for sellers to acquire and disclose a home’s energy efficiency whereas in Australia, the Australian Capital Territory (ACT) is the only place where a seller must disclose to potential buyers the dwelling’s energy performance. The Energy Efficiency Rating (EER), as it is called, is assessed by an accredited energy assessor.
Propelled by the climate change movement, First National Real Estate’s chief executive Ray Ellis is witnessing a deluge in buyers and renters who are querying how energy efficient a home is, in a bid to find lower carbon footprint properties.
“Irrespective of your views on climate change, there is no denying resources are drying up and costing us in utility bills. As a result, we are seeing more and more home buyers and renters, of all ages, demanding properties with lower carbon footprints. Locally, Canberrans are leading the climate conscious charge with the
disclosing of a property’s EER, which certainly makes it easier for home buyers to make an environmentally conscious property decision,” said First National Real Estate’s chief executive Ray Ellis.
Buyers and renters are aware that not only are they doing their bit for the environment but a sustainable home undoubtedly means cheaper energy bills and as a result are seeking out energy and water efficiency, properties made from environmentally responsible materials, living features including reduced noise pollution, low-wattage lighting, ample natural light, pools with modern efficient pumps and filters, double glazing and solar panels as well as scope to grow their own produce.
“Right across Australia from along the coastlines to further inland, we are now seeing a demand from buyers and renters for climate conscious homes. These buyers and renters are actively seeking out properties that heat and cool consciously, have efficient showerheads and toilets, ample natural light as well as effective window and door sealing and insulation. Unfortunately, until all the Australian states and Northern Territory follow suit of the Australian Capital Territory, we can’t provide prospective buyers and sellers with the full information when it comes to a property’s EER and am hopeful that this will change in the near future – as it is what Australian buyers are demanding,” said First National Real Estate’s chief executive Ray Ellis.