Green is turning to GOLD with rising energy and water prices boosting the values of existing green homes and commercial premises.

In a World Environment Day media release Archicentre, the building inspection service of the Australian Institute of Architects said, the current carbon tax debate and skyrocketing energy and water costs have placed a blow torch of publicity on environmental building design in Australia.

David Hallett, Archicentre General Manager Southern Region said, ”comparing the rising cost of power and water bills has become a common point of discussion between neighbours and friends.   

“A carbon tax that increases the cost of energy will fuel design and product innovation regardless of the level of compensation.  Consumers, builders and all trades will be forced to look towards the more efficient building of green properties and improved products.  

“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 six or more green star design are actually built to the standard.”

Mr Hallett 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.

”The pace of rising energy prices has drawn a line in the sand on the costs of running poorly designed and poorly insulated domestic and commercial premises.  This has become a highly identified cost in every family budget and on the bottomline of every business.

“The pressure of housing affordability today is not just in the initial building costs as housing affordability has now spread to a much greater extent into the costs of services such as power, water and gas needed to run a home.

“Home owners with well designed and insulated homes that include items like solar panels and rain water tanks, stand to see hundreds of dollars a year cut from their energy and water bills as prices escalate dramatically.”

Federal Resources and Energy Minister Martin Ferguson has warned that energy prices across Australia will jump by a hefty  30% in the next three years even without a carbon price and could rise further.*   Source: Australian Financial Review 19 May 2011

 “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,’ Mr Hallett said.

Media Enquiries:
Ron Smith, Corporate Media Communications, Archicentre - Mobile: 0417 329 201