Nine “mega-trends” around health and wealth, climate adaption, migration and lifestyle will force significant changes in the real estate industry in the next five or more years.
The COVID-19 pandemic and climate change are the key factors reshaping the industry’s future, says Real Estate Institute of Australia (REIA) chief executive officer Anna Neelagama.
Sustainability conscious customers looking for green credentials of homes that are more energy efficient and built to withstand severe climate events means the industry needs to develop better policies so that, “housing stock can be improved, and homeowners and homebuyers can be supported to make those choices,” Ms Neelagama explains.
Optimising health outcomes is another trend that will impact on retail and commercial spaces with air quality and social distancing being incorporated in new developments.
While not new, more than before people are looking for homes that suit fluidity of work and life. And regional areas such as the Sunshine Coast with good access to hospitals, schools and beaches, and where people can secure work outside of a city, will continue to be valued.
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