The shifting needs for the residential market have seen the Australian dream change from serenity to amenity with a new focus on sustainability.
The market is changing rapidly, and in order for the property industry to continue to support the Australian residential dream, green space and sustainability needs to be recognised as a key consideration in consumer demand.
Developers and architects too, have acknowledged the importance of sustainability as a driving force of market demand.
Rory Martin, sustainability manager - Residential Development, for Frasers Property Australia knows the importance of sustainability in driving consumer choice.
“Sustainability is much more prevalent as a driver for consumers than it used to be,” says Martin.
“Buyers see the value in it not only because of the environmental benefits but also because it translates to living healthier, greater overall wellbeing and the development of community”.
Sustainability can no longer be thought of as a separate stand-alone aspect of development. Future development needs to include sustainability as a fully integrated business component within the areas of “quality” and “community”.
Supporting sustainability also has economic advantages for buyers and investors. The built environment contributes around 23 percent of Australia’s total greenhouse gas emissions.
Taking action to achieve greater energy efficiency in our residential and commercial buildings could cut emissions while saving Australian households and businesses more than $20 billion by 2030.