Electric Vehicle Charging Stations
Do they stand to increase the appeal of a house or area?
Electric Vehicle purchases are on the rise globally, which poses the question of whether property is going to need to keep up with the growing need for on site charging stations, or risk the possibility of being less desirable to future buyers.
With exciting models launched in 2023 there were more electric cars registered in Australia than ever before, accounting for a total of 7.2% of all cars registered last year. Those figures are set to increase again in 2024 as more people transition to lower carbon lifestyles.
With all these electric cars zooming around we need to accommodate with more charging amenities! The number of EV charging stations in Australia has roughly doubled in the three years leading up to 2022. And according to the Electric Vehicle Council's 2023 report, there was a 57% increase in public charging stations from 2022. So we are certainly on the rise in terms of public charging stations.
See below an interactive map of charging stations - https://www.plugshare.com/
The City of Port Phillip for example has just a handful of public charging stations in place currently. They are however encouraging an uptake of electric vehicles by:
working with the community, partners and electricity distributors to install charging stations on public land
encouraging developers and building owners to install chargers on privately-owned land
They’re also piloting the use of kerbside electric vehicle (EV) charging units for City of Port Phillip residents who do not have off-street car parking on their property.
What about private amenities at home? Agents are saying more apartment buyers are aware of whether there are charging facilities in communal areas and carparks, or if there is the ability to install them. If not, future conscious buyers are turning to more modern builds with the added amenity.
Many existing apartment blocks in Melbourne are in discussions around installation, or have already started the process. At the demand of residents.
For home owners with off street parking in the midst of renovation plans, it could pay to consider adding electric car charging amenities at home.
Ultimately we think the addition of a charging station in a property or area would not be a deal breaker for the majority of buyers…. for now.
Watch this quickly evolving space!
Interested to hear your thoughts.