Invest
Ageing homes account for one-fifth of Australia’s emissions
Almost eight million Australian homes remain energy-inefficient, leading to calls for a large-scale redevelopment program.
Ageing homes account for one-fifth of Australia’s emissions
Almost eight million Australian homes remain energy-inefficient, leading to calls for a large-scale redevelopment program.
A new report has highlighted the significant contribution of older properties on Australia’s carbon emissions, which could present a “real liability” to reaching net zero emissions by 2050.
Released during the COP26 summit, the report from PowerHousing Australia and CoreLogic found that almost eight million of Australia’s 10.6 million homes are energy-inefficient, contributing between 18 and 20 per cent of the country’s total carbon emissions.
“Australia’s Emissions Reduction Plan taken to COP26 in Glasgow says technology is the key to balancing these global emissions and economic development objectives, but the ageing housing stock will cruel any targets until sustainable technology takes over from coal, which is decades away,” said PowerHousing Australia CEO Nicholas Proud.
The report found that many homes were “well past their use-by date” and not fit for purpose, along with being difficult to buy for younger Australians and lower-income families.
“What is startling is that the National Net Zero Emission plan forecasts that by 2050, around 7 million homes will not be subject to improved energy efficiency measures in the National Construction Code with no retrofitted improvements to improve the fabric of these homes,” Mr Proud said.
PowerHousing Australia has called for a nationwide housing renewal program that it believes would “supercharge” emissions reduction, boost jobs and lead to more affordable housing.
“An existing ‘old’ standard house on existing commuter routes close to jobs can make way for up to three new highly energy-efficient, accessible and well-located dwellings, a proportion of which can go to meeting the surging demand for more social and affordable housing,” PowerHousing Australia said.
The report suggested renewing existing social housing sites was an “immediately actionable and viable solution”.
“Transforming old housing stock into new social and affordable homes benefits those people in need, as well as governments, the economy, and communities,” it said.
“As Australia’s battle with COVID continues, propelling even greater numbers of people into housing distress, innovative solutions that can be implemented now could not be more timely.”
The inquiry aims to identify and assess the factors that promote or impede responsive housing supply and examine initiatives used to improve housing supply in other jurisdictions and how they might be applied in Australia.
It is also investigating the impact of taxes, charges and regulatory settings at a federal, state and local government level on housing supply.
RELATED ARTICLES
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
