REA Group, together with Origin, today released the PropTrack Origin Renter Reality Report, which analyses the motivations and obstacles for Australian renters to adopt energy-efficient features in the home.
The report draws on the views of over 4,800 respondents to the realestate.com.au Residential Audience Pulse Survey.
Key take outs:
- More than half of renters cited lack of control (56%) as the biggest roadblock to adopting energy efficient features in the home, followed by upfront costs (27%).
- Majority of renters (59%) believe property owners are responsible for improving energy efficiency, posing a major barrier to adoption.
- Strikingly, one-third (33%) of renters currently have no energy efficient features in their home, while another 22% are unsure.
The opportunity for landlords is clear, with 35% of renters indicating they would be willing to pay more for a home with smart energy features.
REA Group Senior Economist, Anne Flaherty, said: “Surging costs have created real challenges for Australian renters, and many are now being forced to make compromises around the size, location, and quality of the homes they can afford.
“Energy efficient homes can offer much needed relief for renters on energy bills and can contribute to broader environmental goals. Yet due to limited control over property features, many renters are missing out on these benefits.
“Despite these barriers, a third of respondents stated they would be willing to pay more for smart energy features, indicating motivations are there, yet stronger policies, incentives, and education are needed to help renting households improve energy efficiency. This could even begin with something as simple as a conversation with a landlord to identify energy efficient opportunities in the home.”Origin Retail Executive General Manager, Jon Briskin, said: “There are many simple, affordable and temporary solutions to boost energy efficiency in rental properties and deliver energy bill savings.
“This includes draught-proofing, upgrading appliances to energy efficient models, as well as small changes to energy habits.
“We also welcome policy updates and improved availability of rebates that encourage landlords to improve energy efficiency in rental properties, including installing solar panels and batteries, ensuring renters share in the benefits and are not left behind in the energy transition.”
Additional report findings:
- Despite the barriers, almost half of Australian renters (45%) have plans to invest in energy efficiency improvements over the next five years, with the largest share (14%) set to spend $5,000 or less.
- Over half (55%) of renters plan to invest nothing or are unsure.
- The most common features renters report having in their homes are efficient lighting (21%), followed by solar power (15%) and energy efficient appliances (13%).
- Around half of renters reported turning off lights (53%) and appliances (47%) when not in use as their most common energy-saving behaviours.
- A third (32%) stated they have not made any adaptions to their energy use over the past 12 months
For more information and to view the full report please visit realestate.com.au/insights or click here.
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