Have you been affected by Sydney’s recent heatwaves? As we are going into autumn things are starting to cool down, but what we have observed is how the recent heatwave in Sydney has had an affect on the housing market. Generally speaking, temperatures are rising higher every summer – and higher temperatures are affecting home buying behaviour.
During times of excessive heat, a lack of air-conditioning will affect selling prices – especially in west-facing homes. Buyers are offering less for homes where they will need to install air-conditioning themselves. Conversely, homes with air-conditioning already installed are attracting a premium.
Environmentally friendly, green homes are also falling in popularity as these homes rely on natural means for cooling, which really do not help as much during periods of excessive heat.
There is an increased demand for home with swimming pools, and people who own homes where there is insufficient space to put in a pool are on the market to purchase a home that already has a pool. This is especially important for buyers with children, who are looking at swimming pools as the primary means to cool everyone down.
There are also instances where people have filled in pools to avoid maintenance and associated costs, who are now digging them out again.
Insulation of a home will become a factor to be considered seriously by home buyers - buyers will increasingly be on the look out for better insulated, shaded and draught-proofed homes which need smaller and cheaper to run cooling units. There is an increasing demand for double glazing to keep the home cool in summer.
Houses built of materials that are high in thermal mass such as brick or sandstone will insulate a house because these materials take a long time to heat up or cool down, as opposed to materials such as timber, tin or acrylic.
Homes that have a roofed veranda will help to keep the interior of the home cool in summer.
If your home has a garden, and you are putting it on the market during summer, it is important to ensure that the garden is well planted, green and well-watered. Beds should be mulched to save on water while still giving a cool green and welcoming impression to home viewers.