The hidden threat of EVs to older apartments

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 90%

Property Property Headlines News

Property Property Latest News,Property Property Headlines

New laws that require all new apartments to have an electric vehicle charger for every car space could hit property values of older apartments.

Strata Communities Australia, an industry body representing strata managers, says no state or territory has committed funding to retrofit EV infrastructure, but EV uptake would increase if they did.

But Mr Hamilton, who led his own Southbank, Melbourne apartment tower at Kavanagh Street through the retrofitting process in 2020 and 2021 and is now consulting with a handful of other buildings wanting to do the same thing, said regulations, rather than cost, were the main hurdle.“One issue is freeing owners corporations to be able to make the investment without having to go through the onerous approval process of owners,” he said.

“If we’re going to set ourselves national climate change goals and commitments and have state governments commit to the rollout of electric vehicles and we’ve got a commitment by 2030 that 50 per cent of cars are going to be EVs, then we’ve got to free OCs to be able to make and implement the decisions the that complement those policies. And right now, we don’t.”

WA offers a $3500 rebate for 10,000 EVs and has a minimum 25 per cent electric vehicle target for new light and small passenger vehicles by 2025; the ACT has a target of zero-emission vehicles sales of 80-90 per cent by 2030, and plans to cease registration of new non-ZEVs by 2035.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If it’s for new apartments why will it affect old appartments?

Alternative view: Owners of current apartments rejoice at avoiding the cost of installing EV chargers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in PROPERTY

Property Property Latest News, Property Property Headlines