Australian property owners are to be negatively affected by the mandatory disclosure of energy, greenhouse and water performance of residential buildings.
This is according to David Airey, president of the Real Estate Institute of Australia (REIA).
The Council of Australian Governments' National Strategy for Energy Efficiency states that the energy, greenhouse and water performance of residential buildings will soon be required at the time of sale or lease.
"While these requirements are aimed at reducing greenhouse emissions and providing savings to households through the reduction of energy consumption, there will be upfront costs which affect housing affordability," Mr Airey said.
He went on to say that those looking to buy Australian property are largely aware of the characteristics of an energy-efficient dwelling and do not need a costly report.
Back in March, John McGrath, founder and chief executive officer of McGrath Estate Agents, wrote in his blog that demand for property in Australia that is energy efficient is increasing.
Posted by Craig Francis
