How Does EV Charging Impacts Apartment Value
Here are key Insights from the Domain Sustainability Report 2024:
Prevalence of Green Features
Approximately one-third of apartments on the market now include green features, reflecting a growing focus on sustainability. Green-certified buildings typically consume less electricity and water, making them attractive to environmentally conscious buyers and investors.
Price Premium for Energy Features
The valuation uplift for energy-efficient homes has adjusted in response to broader economic conditions:
Apartments with energy features: On average, these properties see an 11.7% valuation increase, equating to approximately $70,000.
Regional vs. Urban areas: Regional properties show a higher premium (30.8%) compared to urban areas, where affordability concerns often influence pricing.
City-specific trends: Melbourne units exhibit a higher premium (22%) than Sydney's (11.7%), with premium suburbs like Manly commanding a significant 35.3% uplift.
Buyer Interest in Sustainable Homes
Sustainability is increasingly influencing buyer preferences:
Two-thirds of homebuyers now prioritize energy efficiency when choosing properties.
Cities such as Adelaide, Sydney, and Melbourne are leading in demand for sustainable homes.
Growth in Sustainable Listings
The proportion of listings highlighting sustainability features has grown significantly, now reaching 38.2% of apartment listings compared to 33.1% in 2019. This trend reflects both rising consumer demand and industry shifts towards greener practices.
Solar Panel Adoption and Energy Solutions
Solar panels are a prevalent feature in residential homes, appearing in 42.5% of houses sold last year, though they remain uncommon in apartment complexes (3.3% adoption in Sydney). With saturation in solar adoption for houses, alternative solutions like double-glazed windows and efficient thermal insulation are becoming more prominent.
Orientation and Thermal Performance
North-facing properties are increasingly valued for their superior thermal performance, which reduces energy consumption for heating and cooling. This orientation also enhances the effectiveness of solar systems, aligning with the growing adoption of electric vehicles and the need for integrated energy solutions.
Future Outlook
The growing integration of green features and energy-efficient designs in real estate highlights a broader market shift toward sustainability. These features not only improve environmental outcomes but also enhance property values and buyer appeal, ensuring their continued prominence in the industry.
