Top 10 suburbs where buying a home could save you money

Property prices may be falling but they are still well-above pre-covid levels so buyers should still be on the lookout for suburbs where they might have the upper hand.

Not only that, but it is becoming more important for Aussies to buy an energy-efficient home to help save some cash on rising energy costs, according to the newest PropTrack Energy Efficient Housing Report.

The report identified the top 10 suburbs in Australia which had the most energy-efficient properties on the market at the moment, giving buyers the edge.

If the amount of houses outweighs the demand for properties, then generally speaking prices may be lower than in surrounding suburbs where there is more competition.

The majority of the suburbs (9 out of 10) were in Victoria, with only one in Western Australia.

Here are the top 10 suburbs nationally with the most homes listed for sale with an energy efficient rating:

Rank Suburb
1 Clyde North VIC
2 Tarneit VIC
3 Clyde VIC
4 Officer VIC
5 Fraser Rise VIC
6 Baldivis WA
7 Cranbourne East VIC
8 Truganina VIC
9 Wollert VIC
10 Armstrong Creek VIC

The report combines data from the 12.7 million Australians who visit each month with data from the June-July 2022 Residential Consumer Omnibus Survey.

The report revealed more than half (56 per cent) of respondents viewed energy efficiency ratings for homes as extremely important, a 17 per cent increase compared to last year.

Despite the strong demand for energy efficient homes, only 7 per cent of homes listed for sale on the website had an energy efficiency rating declared.

An energy-efficient home can save you money

Reducing energy bills (76 per cent) was the main reason property seekers viewed ratings as important, given rising energy costs and inflation.

Doing good for the environment was also a top concern, with 56 per cent of respondents saying it was a top priority.

PropTrack senior analyst Karen Dellow said energy efficiency and sustainability have become increasingly important in recent years as homeowners seek to reduce their impact on the environment.

“With the cost of energy bills rising and inflation top-of-mind for many households, energy efficient features, such as good insulation and solar power, are in high demand as they can save money on energy consumption and add value to a home,” Dellow said.

“Energy efficiency is on property seekers’ minds, and currently demand is not meeting supply.”

Dellow said improving the energy efficiency of housing in Australia will not only reduce energy bills for owners but will also create jobs in the building sector.

SOURCE: Yahoo Finance by Eliza Bavin 29/9/22

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