Green Buildings offer better value

The Green Building Council of Australia has released a new ground-breaking report, Valuing Green, which considers how green buildings affect property values and how valuers can get the valuation method right.

Outdated valuation techniques and a lack of understanding and appreciation by valuers of the benefits to green building was identified as a key barrier to building green in the Green Building Council of Australia's landmark publication, Dollars and Sense of Green Buildings 2006.

Launched at Green Cities 08, Valuing Green aims to break down that barrier and help valuers gain an understanding of how to value sustainable features and which is the best valuation method to use to value sustainable buildings.

"With an increasing number of Green Star certified buildings currently on the market, and a further 480 projects currently registered for certification, valuers will be required to value in accordance to a changing market," said Romilly Madew, Chief Executive of the Green Building Council of Australia.

"Green buildings offer a range of benefits, such as lower operating costs, growth in rental rates, and financial gains through increased productivity and lower absenteeism, and valuers need to obtain greater knowledge of these to produce a more accurate assessment of value," continued Ms Madew.

Derived from a survey of property owners, developers, valuers, case studies, and extensive research, the findings within Valuing Green overwhelmingly point to Green Star certified buildings enjoying a market advantage over non-Green Star buildings, with all investors, developers and valuers believing that this advantage will increase in coming years.

According to the report, the key to better valuation in the future is education and valuers are encouraged to undertake continuing professional learning on Green Star and how to incorporate this emerging market value for green building.

The report also aims to encourage regulators, policymakers and industry and professional associations to investigate ways to improve awareness of the impact of sustainability features to assist valuers in detecting and assessing sustainability market trends quickly.

The report will be available via the Green Building Council of Australia website www.gbca.org.au

CLICK HERE TO VIEW A COPY OF THE REPORT

Contact:
Lisa Heinze
Marketing Manager
Green Building Council of Australia
Phone: 02 8239 6208
Mobile: 0421 923 079
Email: lisa.heinze@gbca.org.au