Australia is leading the way, and the rest of the world in its wake, with property sustainability.
Findings released from the Property Council of Australia have placed the country ahead of many of its global counterparts, which is great news for individuals and families investigating their home loan and property purchasing options.
Australia leads green building
The 2014 Global Real Estate Sustainability Benchmark (GRESB) placed property companies’ Down Under ahead of their Asia-, Europe- and North America-based competitors.
Commenting on the report’s findings, which analysed data from 637 listed property companies and private equity real estate funds, The Green Building Council of Australia (GBCA) noted that “as in previous years, Australia/New Zealand is the leading region.”
“Green building is arguably the world’s fastest growing industry — and Australia is leading the charge,” Romilly Madew, GBCA Chief Executive, said.
“The report underscores our regional leadership in sustainability, and serves as a reminder of why Australia is one of the best real estate markets in which to invest.
“Australia’s real estate sector is demonstrating that it has a long-term commitment to sustainability that stretches far beyond this financial year or this electoral cycle.”
The GBCA promotes sustainability in the Australian property sector by encouraging specific design practices, technologies and green building programs. It also focuses on incorporating “green building initiatives into mainstream design, construction and operation of buildings”.
As part of the GRESB survey, 44 of the country’s largest property owners were questioned, representing around $131 billion in real estate assets
What’s happening in Australia?
Property Council’s chief executive, Ken Morrison, stated that investment in new technology and innovation has helped the nation’s property industry limit waste, reduce carbon emissions and lower water and energy use.
“On average, the survey found that companies from Australia outpaced their international peers in all aspects of sustainability — with 70 percent falling within the top 35 percent of global performers,” Morrison explained.
“It is gratifying to see decades of investment and clever management paying environmental dividends as well as providing more secure returns to investors.”
The GRESB report noted that “benchmarking and disclosure of building energy performance for large commercial, institutional, and multifamily buildings” is a legislative requirement in Australia. This arguably makes the nation a global trend setter for sustainable property practices.
If you’re thinking about buying a sustainable property, Australia sure seems like the place to do it. Kick off the process by using a home loan calculator and start investigating your purchase options.