Green homes rake in profits
In the Melbourne market, environmentally-friendly features can boost a property’s sales price by an average of 30 per cent, new data has shown.
Research from PRDnationwide shows buyers in Melbourne are prepared to pay more for ‘green features.’
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Houses with solar panels and water tanks sell for 30 per cent more than those without, while a solar hot water system adds 29 per cent to the sales price.
The biggest returns are attached to grey water systems – houses with this functionality sell for 33 per cent more.
Overall, properties with a high energy efficiency rating tend to sell for 51 per cent more than unrated homes.
In units, the differences were less pronounced.
Apartments with solar hot water systems sold for 14 per cent more while a high energy efficiency rating added 17 per cent.
According to the Real Estate Institute of Victoria (REIV), more buyers are interested in sustainable housing, particularly in Melbourne’s north.
