Survey reveals termites could reduce a home’s value by more than 20%

Pest control experts Rentokil have revealed that almost two thirds (65%) of Australians believe a termite infestation would decrease the value of a home by more than 20%*. The survey also showed that 74% would remove a potential home from their shortlist altogether if it were to have termites*.

Kate Levy, Head of Marketing Services at Rentokil said termites are prevalent in Australia, where one in four Australian homes are attacked by termites in their lifetime** and are usually discovered when the home is under scrutiny.

“Irrespective of whether you’re buying or selling your home, you shouldn’t wait until it’s too late to have a termite inspection,” said Kate.

“The consequences are having a potential 20%, or more, taken off your asking price plus the added cost of fixing the termite damage,” she added.

The average cost of termite damage is between $7,000 and $8,000*** and is not covered by most home insurance policies.

Simon Lean, Australian Technical Manager at Rentokil said a home is one of the single biggest investments a person will make in their lifetime and so they need to be proactive when it comes to termites.

“Dealing with a termite infestation can be both financially and emotionally distressing for a homeowner. If they are not spotted early and acted on promptly, they can have a devastating effect on your home,” said Simon.

“The best way to prevent termite damage is to have a termite inspection once a year. If termites are found during a regular inspection they can often be treated with minimal damage to the property and its value,” said Simon.

With the Spring property buzz upon us, sellers should avoid selling themselves short with an asking price impacted by termites. Book a termite inspection now by calling Rentokil on 1300 761 947 or visit our termite section.

Rentokil Survey Summary

  • 21% said a home’s value would decrease by between 10-20% if it had termites*
  • 54% said a home’s value would decrease by more than 25% if it had termites*
  • 74% said they would remove a potential home from their shortlist if it had termites*
  • 49% said they expect the cost of termite damage would be greater than $8,000*

Video Infographic

We've summarised these termite stats + many more in a video infographic, which you can view on YouTube below:

* stats have come from an an online survey Rentokil commissioned via Pure Profile in June this year.
** is from CSIRO Termite Survey and Hazard Mapping research.
*** is from research commissioned by Archicentre in 2010.



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