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Home energy data must be disclosed

By: admin|

From the 1st January 2010 all persons selling or leasing a home in Queensland will require every owner and agent to disclose the property’s water and energy efficiency as well as safety and access details. The sustainability declaration covers 56 points must be supplied and failure to do so will see a non-compliance penalty ranging from $200 to $2000 for home owners and $1000 to $2000 for real estate agents.

Others states will be following the progress in Queensland with the view to also implementing the same system in their respective states. The Council of Australian Governments is committed to introduce mandatory disclosure at the point of sale or lease for residential property owners by May 2011, along with the new six star energy efficiency standard for houses.

Of course there is always a cost involved when new requirements are implemented and to upgrade to meet the new six star rating could cost home owners an additional $5000 to $20,000 and whilst it’s a large cost input by all residential property owners the overall winner will be the environment and assist in preserving our country for many generations to come. Overall reduction in carbon emissions will also assist Australia in meeting their reduction targets once they are agreed and put in place.

Queensland Real Estate Agents have been caught short on this proposal and are now busy advising their clients of the new requirements that must be implemented to allow the continued marketing of the property after 1st January 2010. At least the other states will now have plenty of warning and enable them to prepare much earlier for the expected changes.

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