Thrive Property NT

The Evolving Property Industry

evolving property industry

The way we live is changing

As Australians, we have always had a proud sense of home. Home is where your heart is. Home is your sanctuary. Home is your castle.

But now, it is even more than that.

COVID-19 has changed the way we live. Our home is now not only the place we seek refuge, but also now the place we work, play and so much more. With our daily lives limited with restrictions, our home is needing to tick more boxes than ever before.

What we are seeing is an emergence of ‘wellness real estate’ – a new industry estimated ar 134 billion globally, accounting for 1.5 per cent of global construction.

An investment of another kind

Our homes are now seen as not only a financial investment, but a wellness investment. We are spending more time spent inside the walls of our own home, so it makes sense that they should have a positive impact on our well-being. Not a negative one.

The design and construction industry is seeing a rise in homes that optimise wellness with inclusions and environmental considerations taken into account in the design. The new era of homes will see positive changes that encourage movement, inclusion, space, freedom and social inclusion.

Improving our mental and physical health

With more Australians working from home we can expect to see more space for home offices and open study spaces for our kids. Not only that but access to fresh air, garden spaces and greenery to increase oxygen levels and bringing nature indoors. COVID has put the importance of good mental health at the top of everyone’s agenda.

Recent studies also show we recognise the importance that good mental health has on our overall well-being. As a result, we are seeing exercise also climb up the ladder of one of the most influential factors on our personal mental health. The number of people exercising at home, or within nature has risen since the pandemic. The goal of exercising has also shifted from doing it to ‘look’ good to now ‘feel’ good.

Living sustainably

The number of sustainable homes across Australia is also on the rise. We are slowly but surely recognising the importance of living sustainably and improving these practices in our homes. We are actively seeking to reduce our impact on the environment and create healthier spaces for where we live.

Not only that, homeowners are also recognising the financial benefit that building green can bring – from saving on electricity and water with green, cost-effective solutions. Well-ventilated homes have become a more important factor in new builds over artificial cooling methods with both environmental benefits along with the financial benefit.

Man’s best friend

We have always been dog-lovers. Australians own 29 million pets, with 61% of households owning ‘fur babies’. (RSPCA) We have seen an increase in pet ownership with the onset of the pandemic and an increase in the demand of pet-friendly properties as a result. Changes to the NT pet ownership in rental properties has been delayed while the territory tackles its COVID response. We will continue to keep an eye on this space.

We are seeing a silver lining in regards to the way we live and the sustainable practices we implement in our homes. What we could very well see is a healthier, happier planet as a result.