A recent study by Domain found that energy efficient homes are being sold for up to 29% more than the rest of the market. On average, houses with sustainable design features sold for $125,000 more but not only that, they attracted more buyer interest and sold faster than their non-energy efficient counterparts.
Energy-efficient homes attract more buyer interest, sell faster, and fetch higher prices. Beyond the substantial benefits to consumers, increasing energy efficiency in Australian homes would deliver benefits for the energy system itself, reducing demand for electricity at peak times and therefore reducing the need for costly investment in new generation, transmission, and distribution infrastructure.
Simple energy saving features like insulation, solar panels and rainwater tanks all reduce the cost of habiting a property and are sought after by buyers. Better still is when sustainable design has been used in choosing the correct orientation of the property, using the latest in energy efficient building materials and using sustainable design principles to provide effective shade, heat storage and ventilation, keeping the house cool in summer and warm in winter.
Buyers are deciding to compare properties for sustainability because of the growing climate change concerns and rising energy costs. This means that the transparency of a home’s sustainability currently plays an important role when deciding to get a new property.
A mandatory star rating would mean that landlords nationwide would have to disclose a property’s energy star rating and potential buyers would be informed of what they are buying and what the ongoing costs would be. Buyers would not just consider the energy savings that upgrades could bring, but also the capital gain.
A study of ACT transactions, from the University of Melbourne, found a 9.4 per cent premium was paid for seven-star houses, when compared to a three-star home.
While it is not yet mandatory in most states (ACT being the exception) to disclose energy-efficient ratings when selling or renting a property, it is compulsory in many local government areas now to have an energy rating report submitted with any building alteration and addition or new building development application. It is possible to have an existing home audited to ascertain the current energy star rating and to identify improvements that can be made.
At Perfect Square Design we embrace sustainable principles for your new home. We are committed to design innovation in this increasingly important area of architecture and, most importantly, making sustainable building design more accessible and affordable for everyday Aussies and businesses through clever design.
To improve the sustainability of our building designs we pay particular attention to:
- Maximising natural light
- Reducing construction materials used (which also brings costs down for you)
- Finding ways to reduce the energy used for heating and cooling
Best of all, with Perfect Square Design, improving the sustainability and efficiency of your new home or building doesn’t mean you have to compromise on style.
Make your home a more comfortable, efficient, and environmentally responsible place to live, work and enjoy life. Let us show you how beautiful and rewarding sustainable building design can be. Contact our dedicated design team today.