Improving Victorian homes energy efficiency

Posted on February 23, 2009 by peter 
Filed under Australia Real Estate News · Tagged:

Environmental efficiency of residential property is an issue being closely examined by the property profession and the state and federal governments.

An enormous opportunity exists to significantly reduce Victoria’s carbon emissions.

At present new dwellings in Victoria must comply with the five-star standard. This requires a five-star energy rating for the building fabric, water-saving measures, and the installation of either a rainwater tank or solar hot-water service.

New dwellings comprise a small percentage of the housing stock, therefore the challenge is how to lift the energy rating of existing houses.

In Victoria a range of subsidies are available for property owners to install energy and water-saving devices. The Federal Government’s program to insulate 2.7 million homes will provide further impetus to the overall goal of carbon reduction.

The real challenge is implementing a reporting system that will allow prospective buyers to easily understand and compare the energy efficiencies of different properties. Currently, before a buyer signs a contract of sale, the vendor must provide a statement (often referred to as a Section 32) of matters affecting the land to be sold.

The Real Estate Institute of Victoria is working with a range of stakeholders to determine whether Section 32 should contain environmental ratings and what standards the ratings should be set at, or if another means for reporting a house’s environmental standard can be introduced.

It’s only a matter of time until we move to a more transparent system of energy rating for residential houses.

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