Buyers and renters are increasingly worried about energy costs

The cost of living crisis is forcing both home buyers and renters to pay more attention to energy-efficient homes, according to a new survey.

According to the PropTrack Origin Australian Home Energy Report, 59 per cent of people found energy efficiency ratings important when buying, renting, or building a home, to lessen the cost of bills.

At the same time, 77 per cent of buyers and 72 per cent of renters stated they used energy efficiency ratings for reducing regular energy bills and managing the cost of living.

Across Australia, Tasmanians (69 per cent) were the most concerned about energy efficiency, followed by Victorians (62 per cent) and South Australians (62 per cent).

PropTrack Senior Analyst, Karen Dellow, said with home prices and median rents growing across the country, adopting energy-efficient features could help Australians reduce their bills amidst an ongoing cost of living crisis.

“Regardless of their home ownership status, Australians are looking to energy efficiency to help manage the cost of living,” Ms Dellow said.

Amongst renters, smart appliances proved to be a popular option to enhance energy efficiency at minimal expense, with one-quarter of renters surveyed owning a smart appliance.

Solar power was also popular for energy efficiency among renters and buyers, with 85 per cent of buyers and 67 per cent of renters surveyed expressing an interest in installing solar panels.

Solar panels, double-glazed windows and rainwater tanks were the top three features people would like to see added to their homes.

“The range of energy-efficient features available to households across the country can be used to not only save money but add value to homes,” Ms Dellow said.

“Solar power emerged as a clear favourite for buyers, with almost three-quarters of survey respondents identifying they would pay more for a home with solar panels.”

Transitioning to all-electric homes was something that 40 per cent of respondents were interested in, however, just 8 per cent were actively considering the shift within the next 12 months.

Respondents in the combined regional areas showed a slightly greater interest in energy efficiency (62 per cent) than the combined capital cities (58 per cent). 

Origin Energy Executive General Manager Retail, Jon Briskin, said people’s relationship with energy has changed a lot in the last 20 years, from being just consumers of energy to generating it on our roofs and being more energy efficient. 

“Over the next 10 years, we know EVs and batteries will become more common, alongside smart devices to help us control our homes,” Mr Briskin said.

He said the research also highlights the barriers and challenges that remain for some people to understand and access these benefits.

“The energy solutions that work for different Australian households will vary significantly based on their specific needs, so it is our role to help customers navigate the complexity and make it simple and easy for them.”

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