Greening the property market: why more vendors advertised sustainable features in 2023
The states and the suburbs with the highest number of environmentally friendly properties for sale are not where you think
2 min
Just under 15 percent of homes for sale in FY23 were ‘green listings’, new research reveals.
Green listings, which are defined as having at least one environmentally-friendly feature providing energy or water savings, such as solar panels, a home battery and rainwater tanks made up 101,479 of the 687,874 homes that went onto the market in FY23, Australia’s largest real estate network, Ray White, reports.
Queensland had the highest proportion of green listings overall in FY23 at 20.3 percent. This compares to 19.6 percent in the Northern Territory, 19.5 percent in South Australia, 16.1 percent in the ACT, 15.7 percent in Western Australia, 11.6 percent in Tasmania and 11.4 percent in both New South Wales and Victoria. The number of green listings advertised has been growing over the past three years as homeowners think more about their carbon footprint and embrace sustainability. The number of listings with one or two green features has risen from 17.2 percent of listings in 2020 to 19.5 percent in 2023, according to Ray White.
Skyrocketing electricity prices and the availability of government incentives to encourage homeowners to invest in eco-friendly features are no doubt contributing to higher interest in green homes. A growing uptake of electric vehicles (EVs) is also leading to more homeowners installing EV chargers in their garages. The Electric Vehicles Council of Australia reports that the number of sales of EVs in the first half of 2023 exceeded the total number sold in 2022.
Buyers’ interest in green features is prompting more agents to include such details in the advertising copy for homes for sale, said Ray White data analyst, William Clark. “Over the last three years, there has been an increasing proportion of listings with ‘solar panels’, ‘battery’ or ‘off-grid’ appearing in advertising copy,” he said. “This is not an exhaustive list of ways a house can be green, however solar panels were the most frequently advertised, while batteries and being off-grid make a house green to the greatest degree.”
In New South Wales and Victoria, the suburbs with the highest percentage of green listings were all in regional areas. In other states and territories, there was a broader mix across regional and capital city suburbs. Clark said green properties were more commonly houses on large blocks of land. “With regional areas having a higher proportion of houses rather than units, single-family dwellings may retrofit green features such as solar panels and battery packs quicker and more autonomously than units and complexes with large strata groups. This means states, cities and suburbs with more houses and fewer units will see a higher proportion of green listings.”
Here are the suburbs with the highest percentage of green listings advertised in FY23.
Top suburbs for green listings
Source: Ray White, suburbs with at least 10 listings advertised in FY23
The greening of Australian homes is being helped along by regulation, with a new law in Victoria banning gas connections in newly built properties coming into effect yesterday. The ACT was the first state or territory to introduce such a law, which came into effect there in December.
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Mirvac’s 45-level Trielle has topped out at Yarra’s Edge, pairing riverfront apartments with wellness facilities, private dining and resident services.
3 min
Mirvac has topped out Trielle at Melbourne’s Yarra’s Edge, with more than 70 per cent of the riverfront development sold and approximately 80 per cent of purchasers intending to make their apartment a home.
The figures, released on September 22, point to an owner-occupier audience for one of the precinct’s final residential towers. Mirvac began developing Yarra’s Edge in 2003, and its latest addition occupies one of the remaining absolute riverfront sites.
Mirvac CEO of Development Stuart Penklis said existing residents were among those moving up within the neighbourhood.
“Many purchasers already have a connection to Yarra’s Edge,” Mr Penklis said, describing buyers whose changing needs were encouraging an upgrade within the precinct.
“As one of the final residential towers within Yarra’s Edge, Trielle represents the culmination of more than two decades of creating one of Melbourne’s most established and sought-after waterfront communities,” Penklis said.
“Positioned on the Collins Street axis with absolute river frontage, Trielle offers residents a rare opportunity to enjoy sweeping views across the Yarra River, Melbourne skyline and Port Phillip Bay, while remaining seamlessly connected to the CBD. With Trielle now more than 70 per cent sold, we’re continuing to see strong demand from buyers seeking quality homes in established locations.”
The developer also flagged a penthouse and sub-penthouse collection with larger layouts, premium finishes and broad outlooks. The planned wellness centrepiece, The Oasis, encompasses a 900-square-metre elevated urban rainforest.
Mirvac General Manager Residential Development Victoria Elysa Anderson said Trielle had resonated strongly with buyers seeking a rare lifestyle offering in Melbourne.
“Opportunities to secure a new luxury residence on a riverfront site of this calibre are incredibly rare, particularly within a community like Yarra’s Edge,” Anderson said.
“What makes Trielle unique is the combination of exceptional views, world-class residential facilities and the lifestyle that already exists around it. Residents are buying into a mature waterfront community with parks, promenades, dining, wellness and strong community connections already in place.”
The 45-level tower brings a substantial new presence to that waterfront. Its residential offering spans one-, two-, three- and four-bedroom apartments, with Signature, Prestige and Sub-Penthouse collections accommodating different household sizes. The north-facing position connects the apartments visually to the river and city beyond.
Seven storeys above the promenade, the planned Oasis combines planting and a running stream with a Scandinavian-inspired wellness club developed with spa specialist Naomi Gregory. Facilities include a 25-metre lap pool, hot magnesium pool, sauna, hydrotherapy, a gym, yoga and Pilates room, and treatment spaces.
The amenity extends beyond exercise. Residents will have access to The Biblioteca library and workspaces, ground-floor work pods, and The Salone piano lounge. A private Chef’s Table dining room offers a setting for larger gatherings, while a cinema, games room and sports lounge broaden the entertaining options. Concierge services and a dog-wash area support everyday routines.
Trielle comprises a collection of one, two, three and four-bedroom residences. Reflecting strong demand from owner occupiers, approximately 80 per cent of purchasers to date intend to live in their homes, highlighting the project’s appeal to those seeking a long-term waterfront lifestyle.
Mirvac has recently delivered The Albertine, a premium apartment development on the edge of Melbourne’s CBD, and is nearing completion of Prince & Parade in Brunswick, further strengthening its portfolio of thoughtfully designed apartment communities in some of Melbourne’s most sought-after urban locations.
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