Energy Efficient Features Justify Premium Price

Realestate.co.nz and Homestar survey reveals almost all respondents believe how your home is climate controlled is the major price tag decider

AUCKLAND, 25 November 2013 – More than 90% of home buyers believe that high levels of insulation and efficient heating and cooling justifies a home having a price premium.

When it comes to specific home features such as double glazing, solar panels, efficient energy fixtures and water conservation systems, more than half of home buyers agree that these contribute to a price premium.

These attitudes are revealed in a recent survey undertaken by Realestate.co.nz in association with Homestar to gauge the features people regard as important when looking for a home to buy.
The first such survey was conducted last year, with 1,725 respondents. This year’s survey was much larger, with 5,980 people taking part.

“It is clear that sustainability and environmentally friendly features are increasingly important to home buyers,” says Paul McKenzie of realestate.co.nz.

“It’s good news that Kiwis are taking such a strong interest in how well their home performs. We’re seeing a real appetite for good advice and information,” says Leigh Featherstone of Homestar.

Prospective home buyers surveyed rated house orientation to maximise sunlight as the single most important home feature, with 86% of respondents rating it as important. A high level of insulation was rated important by 82% of respondents.

Having specific energy efficient features such as solar panels and double glazing is important to nearly half the respondents, while 36% also consider whether the house is built from sustainable or environmentally friendly materials. Nearly 30% rated water saving features such as a rain water tank as important.

After sun exposure and insulation, the home feature rated most important by home buyers is where you put your car - off-street and covered car parking both rated as important by nearly 75% of respondents.
Other home features considered crucial by over 50% of respondents include, in order: number of bedrooms (3 or more), ample storage space, indoor/outdoor flow, a quiet street location, an outdoor entertaining area and open plan living.

The annual Realestate.co.nz survey provides key insights into home buying preferences with quantified results sometimes contradicting popular beliefs such as the supposed importance of homes having a gourmet kitchen. In fact, kitchen design is only rated as important by 51% of respondents.

Realestate.co.nz is the country’s most comprehensive property listing website, profiling listings of licensed real estate agents with more than 100,000 listings covering residential, commercial, business and farms for sale.

The most recent issue of the NZ Property Report, a monthly report of housing market activity compiled by Realestate.co.nz, can be found along with additional analysis of the property market at www.unconditional.co.nz, the news and information website for New Zealand real estate.

Practical advice and information on improving home performance, including a tool to rate your home, are available at www.homestar.org.nz. 

Home performance components that contribute to a premium price
1.     High levels of insulation
2.     Efficient heating and cooling
3.     Solar Panels
4.     Efficient energy & water fixtures
5.     Double Glazing
6.     Water conservation systems
7.     An independent rating and official certificate for the homes performance
8.     Low energy lighting
9.     Fixtures and fittings with low levels of toxicity, e.g. low VOC

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ENDS

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