The Key Selection Criteria
The Proptech Energy Efficiency Features Standard will be a trusted set of energy efficiency property features which can be made visible during the property marketing experience either as a property listing or as property insights. Each energy efficiency feature has the potential to deliver real lifestyle benefits to the owner, buyer or renter (the potential for reduced running costs and increased comfort) while reducing environment impact.
Core Mandate
Each individual energy efficiency feature must be able to be SEEN and IDENTIFIED and/or further VERIFIED in a property walkthrough whether this be face to face, by a property professional or a property customer or via 3D video capture.
It must be fit for purpose for residential property insights, services and experiences.
More Verified Data Collection
The standard itself has been formatted to provide pathways for more robust data verification of these individual features – using receipts and warranties from relevant industry professional standards and product details including energy rating labelling. This will in turn provide more robust data on these features in residential property.
Naming Protocol
The naming protocol for energy efficiency data is an important aspect of this industry-led standard. It ensures the name of each individual energy efficiency feature functions to enhance the clarity and reliability of information in property marketing, services and experiences and insights (see Special Notes section). It also enables smooth data sharing (Interoperability) across the sector, which in turn will support more comprehensive property information.
The Eight Key Criteria
The final data standard aligns with the 8 criteria initially laid down as a guideline for the development of the features standard.
The selection process considered of a number of factors to ensure the energy efficiency data set would deliver benefits to all property customers, whether they be agent and agency facing or consumer facing, as well as aligning with the new commercial opportunities which are catalysed by these new property features such as property upgrades and new loan products.
1
Must enable seamless integration into existing “features-based” property appraisal processes – the features must be able to be identified during a property appraisal conducted by a real estate professional. Regarding insulation, this must be verified by receipts + product warranty from a qualified installer.
2
Visibility in online and face-to-face property marketing experiences for new and existing homes, such as lead generation, appraisal, listing, marketing, sales, management, maintenance or upgrade services.
3
The feature must deliver the potential for an energy performance outcome (reduced running cost, more comfortable all year round for the occupier and less impact of the planet) if used correctly.
4
NatHERS Home Energy Rating – align where possible to key data inputs for the NatHERS energy rating assessment and the property upgrade recommendations contained in the Certificate itself.
7
The National Construction Code Climate Zone Map which was created using Bureau of Meteorology climatic data. These climate zones are a key baseline to understanding how to create a comfortable home for both new and existing homes
5
Readiness for Regulation The Features Standard will include a placeholder for the property attribute “Home Energy Rating” / score and “NABERS for Apartments” / score. This will provide alignment with the Home Energy Rating Disclosure Framework document which outlines the national plan for Home Energy Ratings on all homes at point of sale or rent.
8
These features will also align with the property information contained in Your Home, Australia’s Guide to Environmentally Sustainable Homes. Your Home is Australia’s independent guide to designing, building or renovating homes to ensure they are energy efficient, comfortable, affordable and adaptable for the future. It was developed by the Australian Government and written by over 50 experts in sustainability, building design and construction.
6
Align with finance and banking sector new “green” loan product designed to encourage homeowners to make an energy performance upgrade to support ongoing affordability and climate readiness which will also deliver more climate-resistant property in their loan portfolios – a key measure of risk in their global reporting standards. Many of these loans are underpinned by the Clean Energy Finance Corporation’s Household Energy Upgrade Fund.
Research Validated
The case for a residential Energy Efficiency Features Standard
CSIRO research – the impact of the status quo
The development of our industry-led energy efficiency standard for property technology is supported by world-class research.
Baseline research has been conducted by CSIRO to investigate the current representation of energy efficiency property attributes in property listings as well as the open text fields. Proptrack has supplied this listing data and the search field inputs over a twelve-month period.
Link to research by Lygia Romanach CSIRO
This important research provides independent validation for the development of Proptech Energy Efficiency Features standard and should also deliver confidence in the positive impact that standardising these new property features will bring property professionals and consumers across the property landscape.
The research outlines the impact and risk of the status quo:
“In terms of the property listing description text, the study found that a wide range of often generic terminology is used when disclosing energy efficiency information. This is problematic as it brings ambiguity and hinders consumers capacity to build their literacy on residential energy efficiency, compare properties and make an informed decision when buying and/or leasing a property.
It concludes and outlines recommendations for the way forward:
“To make energy efficiency features information clearer and more concise and facilitate consumer action, the findings of this study suggest that it would be beneficial to standardise how energy efficiency information is provided in property listings.
It is also imperative that real estate professionals do use the property attribute list when including information about a property on the platform
…These recommendations could be used to inform further conversations within the real estate industry to refine and develop standardised industry approaches to identifying and listing energy efficiency features in real estate advertising.”
Lygia Romanach CSIRO
The selection of the full set of energy efficiency features which comprise this standard has considered the recommendations stemming from this CSIRO baseline research report.
“… true progress—the inventions that change lives—is the result of targeted efforts to overcome barriers, led not by technology but by the pursuit of solutions.”
— Forbes 2023
