Properties with eco-friendly attributes such as solar and double glazing are selling faster for more, according to Domain.
Already a subscriber?Home buyers are willing to pay up to 53 per cent more for sustainable houses than traditional properties in some suburbs across the country as energy-efficient features become a necessity rather than an option amid escalating costs of running a home, a new report from Domain shows.
not only contribute to environmental sustainability but also offer practical advantages, such as reducing the costs of running a home.”Melbourne attracted the highest price premiums on average of all the capital cities with sustainable houses fetching 28.8 per cent more or an extra $241,750 compared to non-sustainable homes.
Domain’s analysis of individual home sales in March found that a Melbourne house with a solar panel attracted a 64.4 per cent premium or an extra $541,750 on average, while a north-facing property was sold for 59.8 per cent higher or an additional $503,000 compared to traditional houses. Middle-income Gen X and Millennial families led the charge in adopting energy-efficient features, driving up the demand for green homes, the report found.
Domain data shows that solar panels continue to be the volume driver of sustainable features across homes – in almost 43 per cent of houses sold.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Melbourne house prices: Why would anyone want to invest in Melbourne’s housing market?Some experts are predicting Melbourne’s housing market to bounce back strongly in the next two years, but others warn about getting in too early.
Read more »
Sydney, Melbourne house prices: Suburbs where unit values are rising 11 times faster than houses“Investors are snapping up apartments because they are more affordable and the yields are becoming quite attractive.”
Read more »
Melbourne property: Why Melbourne’s housing crisis will get worse before its gets betterVictoria’s population is growing faster than any other state but as housing demand outpaces supply and wage growth, its economic prosperity is at risk.
Read more »
Melbourne property prices: Melbourne property market is due for a comebackOxford Economics predicts the median Melbourne house price will grow 21 per cent over the next three years, outpacing Sydney’s forecast 18 per cent expected growth.
Read more »
Paul Izzo's penalty heroics lead Melbourne Victory past Melbourne City in ALM epicDespite being a man down for the majority of the contest, the Melbourne Victory dug deep and prevailed over its cross-town rivals in an instant A-League Men's classic.
Read more »
Crown to shed 1000 jobs in Sydney, Melbourne, PerthJobs losses will be split between the corporate division and the three casino precincts. Crown says the decision was driven by economic-related pressures.
Read more »