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How energy efficiency could affect property investment Perth

by MarcusAidan

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<p>Will investing in energy-efficiency on my residential property boost its value? It&rsquo;s a question that&rsquo;s currently on many property investors&rsquo; lips. There are ever-increasing methods of improving the energy efficiency of a <strong>Perth property</strong>, including improved lighting fixtures and light bulbs, solar panels, insulation and energy-efficient appliances, and these are constantly improving. Insulating materials are also a large part of energy-efficiency, particularly in new buildings. It can be difficult to separate the real benefits from the green spin that pervades media and advertising within Australia, however here are some factors that may influence the decisions made in <strong>property investment in Perth</strong>.<br /><br />Tenants prefer lower utility costs<br /><br />Is it really worth investing more for energy efficient measures, to attract a higher rental rate?&nbsp; Many tenants can see an immediate and substantial benefit in paying more for an energy-efficient rental property; smaller utility bills. As energy providers hike their costs year after year, people are becoming more and more aware of the costs involved in electricity, water and gas use, and as a result any home that promises lower utility costs offers a certain appeal. This is a substantial factor worth considering for property investment in Perth.<br /><br />New homes could become more competitive<br /><br />New homes built within Australia have to meet certain standards of energy and water efficiency. In fact, Western Australia has recently increased the minimum energy efficiency standard for new housing from a five star rating to six. For those investing in existing Perth property, energy efficiency can therefore become a question of competition; are tenants more likely to prefer renting new energy-efficient homes, as opposed to an older investment property in Perth in which energy efficiency hasn&rsquo;t been addressed? For those investing in older <strong>Perth property</strong>, retrofitted energy-efficient appliances could become an expected rental feature.<br /><br />Entire neighbourhoods are becoming more energy efficient<br /><br />Most of the new housing estates are now being developed to meet and exceed energy and water efficient recommendations. This often includes parks, gardens and public areas as well as homes. Depending on the future importance placed on efficiency, this has the potential to influence the property values of entire areas. An older suburb where solar panels are rarely seen could potentially lag in value behind suburbs where environmental sustainability is a constant theme. This of course is all dependent on how general perception develops over time. <br /><br />The future is looking green<br /><br />If we project twenty years into the future, we will have an extremely environmentally-conscious generation moving out of home and into rental properties, as Millennials are being taught to be environmentally aware from an early age. Whether we choose to accept the issue of climate change or not, chances are the attitudes towards environmental sustainability will affect market value of <strong>property investment Perth</strong> well into the future. Society is becoming more aware of the energy we use every day, so it may pay for Perth property investors to stay involved with the constant new developments in the energy-efficiency area. This includes taking advantage of government grants where applicable, particularly for high-cost outlays such as solar panels for residential homes.</p>
<p><br />It is always hard to guess how the property market how will be affected by a factor such as energy efficiency, but it is certainly worth considering the benefit to building or improving property with sustainability in mind. Perth property investors may find that tenants are willing to pay a premium to rent energy-efficient properties, both now and into the future.</p>


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