Old Housing Stock Key To Reducing Emissions
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Old Housing Stock Key To Reducing Emissions

A report indicates the redevelopment of old housing is essential to carbon neutral plans.

By Terry Christodoulou
Thu, Nov 4, 2021 11:56amGrey Clock < 1 min

Nearly 8 million homes are past their use-by-date according to the Australia Affordable Housing Environmental Scan 2022 by PowerHousing Australia.

The report suggests that many of these outdated properties could be torn down to build multiple energy-efficient dwellings and address the housing crisis.

According to the report, one old standard house on an 800 to 1000sqm block could make way for up to three new homes. Most of the homes have existed for 30 years or more and contribute up to 18% of the country’s emissions.

While Australia looks to tackle rising emissions with advances in technology, PowerHousing Australia chief executive Nicholas Proud suggests the redevelopment of old housing could help tackle both emissions and affordability while technology comes up to speed.

“Australia’s 8 million pre-energy rated homes are now well past their use-by date, contributing up to 18 per cent of Australia’s greenhouse gas emissions and a real liability when it comes to hitting our Paris Agreement commitments for net-zero emissions.”

Mr Proud suggests that Australia will struggle to meet the UN net zero emissions target for 2050 without the repurposing of building materials

“The first step to meet our obligations to future generations is the repurposing and refurbishing older inefficient dwellings, as existing dwellings account for 95 per cent of our building stock and already have an embodied carbon component,” he said.

In 2003, a four-star Nathers energy rating became mandatory for all new homes. Prior to this, there was no obligation to make homes energy efficient and most homes built after the 1950s came in at one to two stars.



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The two Australian states where it’s a buyers’ market

Property values have experienced strong growth around the country, but there are two highly desirable areas where oversupply is putting downward pressure on sales

By Bronwyn Allen
Tue, Jun 18, 2024 2 min

While property values are rising strongly in most markets across Australia, it’s a vastly different story in Victoria and Tasmania, new data from CoreLogic shows. Over the 12 months to May 31, the median house price lifted just 1.8 percent in Melbourne and fell 0.6 percent in regional Victoria. The median dipped 0.1 percent in Hobart and ticked 0.4 percent higher in regional Tasmania. This is in stark contrast to Perth, where values are up 22 percent, and regional Western Australia, up 14.8 percent; as well as Brisbane, up 16.3 percent, and regional Queensland, up 11.8 percent.

CoreLogic Head of Research, Eliza Owen says an oversupply of homes for sale has weakened prices in Victoria and Tasmania, creating buyers’ markets.

On the supply side, there has been more of a build-up in new listings than usual across Victoria, even where home value performance has been relatively soft,” Ms Owen said. Victoria has also had more dwellings completed than any other state and territory in the past 10 years, keeping a lid on price growth. The additional choice in stock means vendors have to bring down their price expectations, and that brings values down.”

Melbourne dwelling values are now four percent below their record high and Hobart dwelling values are 11.5 percent below their record high. Both records were set more than two years ago in March 2022. The oversupply has also affected how long it takes to sell a property. The median days on market is currently 36 in Melbourne and 45 in Hobart compared to a combined capitals median of 27. It takes 55 days to sell in regional Victoria and 64 days in regional Tasmania compared to a combined regional median of 42 days.

Changes in population patterns have also contributed to higher numbers of homes for sale in recent years. Since COVID began in early 2020, thousands of families have left Melbourne because working from home meant they could buy a bigger property in more affordable areas. While many relocated to regional Victoria, a significant proportion left the state altogether, with South-East Queensland a favoured destination. Meantime, Tasmania’s surge in interstate migration during FY21 was short-lived. Data from the Australian Bureau of Statistics shows the island state has recorded a net loss of residents to other states and territories every quarter since June 2022.

Record overseas migration has more than offset interstate migration losses, thereby keeping Victoria’s and Tasmania’s populations growing. However, the impact of migrants on housing is largely seen in the rental market, so this segment of population gain has done little to support values. Growth in weekly rents has been far stronger than growth in home values over the past year, with rents up 9 percent in Melbourne and 4.8 percent in regional Victoria, and up 1 percent in Hobart and 2.7 percent in regional Tasmania.

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This stylish family home combines a classic palette and finishes with a flexible floorplan

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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