Incoming Ipav president flexes green muscle with BER proposal
Adding ratings to price register would ‘show energy efficiency’s effect on values’
David McDonnell: adding BERs to the property price register ‘would also simplify the case for a green-mortgage discount’. Photograph: Paul Sherwood
In the wake of the green surge at this month’s local and European elections, everyone seems to want in on the climate-change act, from traditional political parties to various business groupings.
Now the incoming president of the Institute of Professional Auctioneers & Valuers has pinned his (green) colours to the mast by calling on the Property Services Regulatory Authority to add a property’s BER, or building energy rating, to its sale price on the Residential Property Price Register, which the authority maintains.
David McDonnell of Property Partners McDonnell, in Mullingar, Co Westmeath, said the move would be a simple but important way to assess property values and indicate exactly how much impact BERs can have on them.
“In an era when concern, and one would hope understanding, about our environment is deepening it would give buyers a more comprehensive picture that would feed into their property intelligence, perhaps enabling them to be a fraction more discerning in their choices,” McDonnell said. “It would also simplify the case for a ‘green mortgage’ discount for would-be purchasers.”
Green mortgages, which offer lower interest rates to borrowers buying energy-efficient new-build homes, are not currently available in Ireland, but the concept is understood to be under discussion in banking circles.
McDonnell was speaking ahead of Ipav’s agm and conference at Mullingar Park Hotel on Saturday, June 15th.