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Joint media release
12 December 2008
New research released today by the Australian and ACT governments shows a positive relationship between a house’s energy efficiency rating and its sale price.
Federal Environment Minister Peter Garrett and ACT Minister for the Environment, Climate Change and Water Simon Corbell said the report, Energy Efficiency Rating and House Price in the ACT, was the first of its kind in Australia.
“What this report shows is that by taking simple, practical actions around the home you can make a difference to your hip pocket in both the short and the long term,” Mr Garrett said.
“Installing insultation or retrofitting the latest in efficiency products to your home now will help lower your utility bills today and based on the findings of this report potentially add to the value of the home when it’s time to sell.”
Minister Corbell said mandatory disclosure of energy efficiency had been in place in Canberra since 1999.
“While historically home buyers might have focused on a new home’s location like proximity to schools, work and general amenities, this report found that even taking location into account in the ACT in 2005 and 2006, a higher energy efficiency rating also delivers a good result.
“The findings of this report provide real incentives for property owners to invest in energy efficiency and real encouragement for the housing industry to ensure that new homes are as efficient as possible.”
The Department of the Environment, Water, Heritage and the Arts, on behalf of the National Framework for Energy Efficiency and supported by the ACT Government, commissioned the Australian Bureau of Statistics study.