Australia’s leading provider of property data and insights, PropTrack, and Australia’s national science agency, CSIRO, have released a new report analysing energy efficiency information on more than one million realestate.com.au listings.
The study revealed energy efficiency features are often underreported on listings highlighting an opportunity for agents and homeowners to differentiate their properties online by showcasing energy efficiency features. Findings from the study also suggest there is a need for energy efficiency information to be standardised.
The findings come as recent realestate.com.au research showed more than a third of survey respondents said they would pay more for a home with energy efficiency features, while sellers are among those most likely to have energy efficient features, recognising their perceived value to the sale price of a property.
Energy efficient homes are no longer just for the environmentally conscious, with reducing energy bills highlighted as the number one concern (68%) ahead of reducing carbon emissions (55%).
CSIRO energy performance expert, Anthony Wright, said surfacing energy efficiency features on property listings and standardising how energy efficiency information is presented could help Australians choose homes that are more comfortable, affordable and sustainable.
“Online real estate portals are a primary source of information for those looking to buy or rent a home in Australia. By making energy efficiency information clear, consistent and easy to find, platforms such as realestate.com.au and real estate agents can support more informed and confident decision making,” Anthony said.
“CSIRO has spent over 50 years researching how to make homes healthier, more energy efficient and comfortable. Improving access to this information builds energy literacy, reduces uncertainty and helps people navigate the property market more effectively.”
Executive General Manager, PropTrack, Kris Matthews, said the research with CSIRO highlights the need for education on the importance of energy efficiency information.
“We know consumers are seeking more information on listings than ever before and it’s clear that energy efficiency information is an increasingly important part of finding the right home. Agents have a real opportunity to attract more buyers by including as much energy efficient information as possible,” Kris said.
“We have several energy efficiency filters available on realestate.com.au already but we know there’s more to do. Working towards standardising energy efficiency information would benefit both consumers and the real estate industry.”
PropTrack and CSIRO along with key industry partners are working closely with the Proptech Association on an energy efficiency features standard, which will provide agents with clear guidance on how to effectively disclose energy efficiency information while also supporting Australians to select properties that increase home comfort and help reduce household bills.
