Innovative Sustainable Housing Strategy Launched by Property Council of Australia

In a groundbreaking move, the Property Council of Australia has unveiled a nine-point Sustainable Housing Plan aimed at revolutionizing the property market with a focus on sustainable development. This strategic initiative puts a spotlight on airspace development and modular housing as key drivers for advancing green housing solutions, as reported by Australian Broker.

Mike Zorbas, the Chief Executive of the Property Council, in a historic appearance at the National Press Club—the first in twenty years—emphasized the urgency of finding innovative housing solutions to accommodate Australia’s anticipated population increase of 4 million by 2034. Zorbas called for a united effort between the government and the industry to tackle the housing shortage, highlighting the importance of modular construction and airspace utilization in this quest. “It’s critical we explore every avenue to address our housing needs, including taking to the skies above our buildings and embracing efficient, modular construction techniques,” Zorbas stated.

The Sustainable Housing Plan targets the booming property market, which is set to exceed a value of $250 billion. The council has ambitious plans to employ over 200,000 individuals and create more than 250,000 rooftop residences. These initiatives aim to make the most of the airspace above existing buildings and adopt modular construction methods, promising the most environmentally friendly housing solutions to date.

One of the innovative aspects of the strategy is leveraging the New Home Fund to preserve aging structures and maintain the integrity of communities, avoiding the need for owners to sell their properties to developers. This approach is seen as a way to protect the social fabric of communities while still meeting the demand for new housing.

However, the path to implementing airspace development and modular housing is not without its challenges. The Property Council acknowledges hurdles such as high construction and consultant fees, complex approval processes, and the need for a careful evaluation of airspace value based on location, use, legalities, and market demand. Despite these obstacles, the council suggests a streamlined approach, inspired by practices in other countries, where building owners and developers work together to expedite the development process and share profits.

In conclusion, the Property Council of Australia’s strategy represents a significant step towards addressing the housing crisis while promoting sustainable and vibrant communities across the nation. “The Property Council of Australia remains dedicated to championing innovative solutions like airspace development and modular housing to address the evolving needs of the Australian property market,” the council affirmed in a statement.

This initiative not only aims to provide sustainable housing options but also reflects a broader commitment to innovative urban development strategies that can sustain Australia’s growth into the future.

References:

“Property council launches sustainable housing strategy,” Australian Broker. https://www.brokernews.com.au/news/breaking-news/property-council-launches-sustainable-housing-strategy-284284.aspx