Homeowners could be hit with $1,500 energy assessment charge

Mozo

Monday 08 February 2010

All Aussie residences will soon be forced to undergo an energy-efficiency assessment which could cost up to $1,500 per property.

The assessment has been brought in to tackle carbon emissions and will be a mandatory requirement before any property can be sold or rented, Adelaide Now reported.

According to a spokesman for the state energy minister Pat Conlon, the ratings will inform prospective owners of a building’s energy use, so that they can factor such information into their buying or rental decision.

The assessment will apply to all residential properties from May 2011 and will incorporate an energy efficiency star system similar to the ratings given to fridges and washing machines.

Greg Troughton, chief executive of the Real Estate Institute of South Australia, said that the assessment would serve to add to the cost of selling and renting a home.

"I think they are patronising people who are making the biggest purchase decision of their life by thinking a rating system will influence that decision," he told the news provider.

The news may encourage homeowners to compare savings accounts as the cost of selling property rises. Kevin Benger, chief executive of credit union Community CPS Australia, recently told news.com.au that savers are benefiting from high interest rates on their accounts, many of which are over and above the Reserve Bank of Australia cash rate.

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