Mandatory Disclosure

In 2009, the Council of Australian Governments (COAG) agreed to introduce Mandatory Disclosure of information relating to energy, greenhouse and water performance of homes at the point of sale or lease.

The scheme was initially scheduled to commence from May 2011 and its implementation has been delayed however industry and public consultation has commenced.

The information that will be required to be disclosed will assist buyers and renters in comparing the thermal and energy performance of homes. It is envisaged that this federal undertaking will result in market forces driving owners to invest in improving the performance of their home thus reducing greenhouse emission and water usage.

A pilot program has been operating in Canberra since 1999 and the research conducted found that the higher energy efficiency rated homes had, in general, a higher market value. In Canberra, First Rate software was used to assess dwellings. The disclosure of such information is also required in the UK and the European Union.

Domain Energy Ratings is committed to greenhouse emission reduction and will ensure that when Mandatory disclosure is introduced we are ready to assist the real estate and conveyancing industries.

For further information please visit the following links:

http://www.climatechange.gov.au/en/what-you-need-to-know/buildings/homes.aspx

http://www.nathers.gov.au/about/publications/eer-house-price-act.html

http://www.coag.gov.au/coag_meeting_outcomes/2009-07-02/docs/Energy_efficiency_measures_table.pdf