Rising energy and water prices are leading to a new wave of environmental design, housing products and marketing approaches by the real estate industry, claims Archicentre.
The building inspection service of the Australian Institute of Architects noted Federal Resources and Energy Minister Martin Ferguson recent warning that energy prices across Australia will jump by a hefty 30 per cent in the next three years without a carbon price and could rise further.
Ian Agnew, Archicentre State Manager ACT & NSW said, "the pace of rising energy prices have drawn a line in the sand on the costs of running poorly designed and poorly insulated domestic and commercial premises. This will become a highly identified cost in every family budget and on the bottomline of every business.
Agnew said the pressure of housing affordability today is not just in the initial building costs as housing affordability has now spread into the services such as power, water and gas to run a home.
"The property market will become increasingly driven by running costs that will be automatically factored in by buyers who are looking at balancing their mortgages and other costs.
"The reality is the payback period for solar panels and other energy saving technology has shortened dramatically with power costs in the past two years sky rocketing.
"With a premium price for GREEN HOMES and GREEN COMMERCIAL PROPERTY the real estate industry will need to upgrade their staff training and environmental skills to address the market queries."
"A carbon tax that increases the cost of energy will fuel design and product innovation as builders and all trades will look towards the more efficient building of green properties and improved products," Agnew said. "In this scenario one of the biggest trends in new homes and renovations is likely to be around the introduction of 'quality based building inspections' which are aimed at ensuring homes with a six or more green star design are actually built to the standard."
Mr Agnew said at present no one checks the quality of the construction or insulation with the six star performances quickly evaporating if there are gaps in the door or window seals, or poor quality insulation is installed, or the roof is faulty.
"Not only will the continuing increased energy prices boost property values, they will also put a strong focus on the quality of construction of renovations and new homes in the future in relation to sustainability."
