Tech allows ultra-green homes to be built in just two months
The breakthrough comes as research shows homebuyers are willing to pay more for sustainable features
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An Australian construction giant is poised to build ultra-energy efficient homes in a matter of months after signing a joint venture with a green tech prefabricated wall manufacturer.
AVJennings recently launched a new collection of designer dwellings dubbed Stellar, which feature an innovative walling system from tech company Pro9.
Using the galvanised steel-frame and foam insulated product, the time it takes to construct a home can be cut to a fifth of what it is currently, meaning a dwelling could go up in just two months.
And the finished product can achieve at least an eight-star energy efficiency rating – well above the current minimum of six stars and ahead of the boosted seven-star requirement that comes into effect from 2024.
AVJennings has signed a joint venture with Pro9 to establish a manufacturing hub in Australia, capable of producing more than 1000 homes a year.
“The fact that Pro9 can be implemented directly into our existing product range to elevate the offering is ground-breaking,” AVJennings chief executive officer Phil Kearns said.
“Since introducing the technology into three homes in our Evergreen community in New South Wales 2021, we can see how much it contributes to a home’s energy efficiency and comfort.”
AVJennings is the first developer to bring the Pro9 technology to market in Australia, Mr Kearns said.
“We recognise the importance of achieving higher quality, better insulated and more durable homes and for us to all reduce our carbon footprint.”
Mr Kearns said the partnership is “just the start” of what the company plans to roll out in the future.
Homebuyers are increasingly demanding green and sustainable features and most are willing to pay a premium for it, according to the most recent Property Seeker Report from realestate.com.au.
The largest survey of its kind, the research probes respondents on hundreds of questions relating to the home-buying journey and has found the vast majority are eager to go green.
The 2022 report found 81 per cent of homebuyers see sustainable features in a property being critical in their decision-making and 87 per cent are willing to pay extra for green features, from solar panels to efficient insultation.
The average premium those buyers are willing to pay is 15%, the report found.
Recent analysis by KPMG found the Green Building Council of Australia’s Green Star Homes not only benefit the environment, but owners are better off financially almost immediately, with savings outpacing initial upfront costs.
While the modelling shows a Green Star Home will increase typical loan repayments by up to $84 per month, the savings in energy costs are up to $140 per month.
“The results are particularly exciting as they show that the economics now align with the significant amenity uplift of a greener, more efficient and healthier home,” said Mark Spicer, KPMG’s partner of ESG advisory and assurance.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Villa prices saw particularly strong growth, with capital values increasing by 33.4 percent year-on-year
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Dubai’s real estate market showed strong performance in the second quarter of 2024, with notable increases across the residential, office, and retail sectors, according to a new ValuStrat real estate report for Q2 2024.
Villa prices experienced particularly strong growth, with capital values rising by 33.4 percent year-on-year.
Haider Tuaima, Director and Head of Real Estate Research at ValuStrat said: “The Dubai real estate market has shown impressive growth and resilience in recent months. The ValuStrat Price Index for Residential Capital Values increased by 6.4 percent quarterly and 28.2 percent annually, reaching 178.2 points.
“Despite severe flooding caused by record rainfalls in April, the quick and effective response from developers and authorities helped to control the damage, ensuring that market activity and property valuations remained robust in the subsequent months.”
The office sector also performed well, with the VPI for office capital values surging by 31.7 percent annually and 9.4 percent quarterly, reaching 212.5 points—the highest quarterly increase in a decade.
In the retail sector, Emaar Properties reported 98 percent occupancy in their prime mall assets, while overall mall occupancy stood at 96 percent during the first quarter of 2024. The hospitality sector also saw growth, with total international guests reaching 8.12 million as of May 2024, a 9.9 percent increase compared to the same period last year. Hotel occupancy reached 81 percent, rising by 1.4 percent year-on-year.
Despite these positive indicators, Tuaima added, “The decline in transaction volumes calls for a closer examination of market dynamics as stakeholders navigate this evolving landscape.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
