New Sustainability Scheme Needed
A new scheme to safeguard mortgage holders is needed, experts say, after the removal of sustainability declarations in Queensland. The Cost of Living Amendment Bill 2012 amendments have come into effect, reducing real estate red tape by eliminating the sustainability declaration. What it means is that vendors no longer have to prepare and sign a sustainability declaration before advertising a property for sale.
“When people are facing the biggest purchase of their lives -- their homes -- they deserve to know if that home will cost them a fortune to live in comfortably,” said Rodger Hills, acting CEO of the Association of Building Sustainability Assessors. He acknowledged that sustainability declarations were flawed and open to abuse, but said a system similar to the one in Canberra, where an accredited assessor compiles energy assessments, is needed. Overall, the changes have been met with widespread relief from real estate agents.