Transcript 1630 - 1700 - Georga Myers Presentation

INVESTOR PERCEPTION OF SUSTAINABLE
BUILDING IN NEW ZEALAND
Georgia Myers BPD BPC (Hons)
Preliminary findings of the research project
New Zealand Sustainable Building Conference 20071 – SB07
PhD Candidate
‘An
investigation
the elements of sustainable office buildings and market
value’
“Transforming
our builtinto
environment”
INTRODUCTION
 PhD at the University of Melbourne
 Building Research Funding Grant for Investor Perception
Research
 Research Project – Business Case for Sustainable
Buildings in Australia and New Zealand
New Zealand Sustainable Building Conference 20072 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate
OVERVIEW
 History
 Methodology
 Investor Survey
 Scope and Limitations
 Findings
 Summary
New Zealand Sustainable Building Conference 20073 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate
HISTORY
 Commencement – February 2006
 Completion – February 2009
 Research title – “An investigation into the relationship between elements
of sustainable office buildings and market value”
 Comparative analysis using evidence from New Zealand and Australia
New Zealand Sustainable Building Conference 20074 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate
PROJECT METHODOLOGY
 Literature Review of existing research
 Stage 1: Investor Survey
 Stage 2: Valuer Survey
 Stage 3: Market Data
New Zealand Sustainable Building Conference 20075 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate
STAGE 1: INVESTOR SURVEY




New Zealand Survey
Major Investment Funds and Companies
Survey type – Questionnaire
Nine Questions relating to investment decisions and
perception of sustainable buildings in New Zealand
New Zealand Sustainable Building Conference 20076 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate
SCOPE AND LIMITATIONS
 Survey major investors and developers who play and influential role in the
investment and development in commercial office buildings in New
Zealand.
Limitations
 Access to the entire investor population
 Research timeframe
 Sensitivity of data
New Zealand Sustainable Building Conference 20077 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate
FINDING 1: Overall Investor Perception of Sustainability
35%
30%
25%
20%
15%
10%
5%
0%
Very Positive
Positive
Neither
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Negative
Very Negative
Georgia Myers BPD BPC (Hons)
PhD Candidate
FINDING 2: Investor Actions
35%
30%
25%
20%
15%
10%
5%
0%
Very Active
Active
Taking some action
New Zealand Sustainable Building Conference 20079 – SB07
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Planning
Not taking any action
currently
Georgia Myers BPD BPC (Hons)
PhD Candidate
FINDING 3: Type of Actions taken by Investors & Developers
60%
50%
40%
30%
20%
10%
0%
New Builds
Extensive Upgrade of Existing
Portfolio
Upgrade some buildings
New Zealand Sustainable Building Conference 200710 – SB07
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Long term upgrade plans
Nothing
Georgia Myers BPD BPC (Hons)
PhD Candidate
FINDING 4: Importance of Sustainability for Portfolios
40%
35%
30%
25%
20%
15%
10%
5%
0%
Very Important Now
Increasing Importance
Not Important Currently
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Important in 5 years time
Important in 10 years
Georgia Myers BPD BPC (Hons)
PhD Candidate
FINDING 5: Design vs. Performance
70%
60%
50%
40%
30%
20%
10%
0%
Design Rating
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Performance
Georgia Myers BPD BPC (Hons)
PhD Candidate
FINDING 6: Investor Perceptions of Sustainability & Value
70%
60%
50%
40%
30%
20%
10%
0%
Considerably Higher
Higher
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Neither
Lower
Georgia Myers BPD BPC (Hons)
PhD Candidate
FINDING 7: Investor Future Objectives
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
ALL Buildings
Majority of Buildings
Some Buildings
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One or two
None
Georgia Myers BPD BPC (Hons)
PhD Candidate
SUMMARY OF FINDINGS
 Cluster analysis identified three key groups.
 1st group – the pro-active in incorporating sustainability into their portfolio,
 2nd group – the undecided made up the majority of investors
 3rd group – the skeptics
 Majority of investors believed that there was value in sustainable buildings
 Majority believe sustainability is important right now.
 An industry rating tool identifying and rewarding building performance is required
 The investors realise something needs to be done about the sustainability of
their portfolios
New Zealand Sustainable Building Conference 200715 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate
THE FUTURE…….
 If you would like a copy of the findings of my research please contact me
at [email protected]
 Thank you very much to Building Research
 Questions
“It is not the strongest of the species that survive, nor the most
intelligent, but the one most responsive to change” - Charles Darwin
New Zealand Sustainable Building Conference 200716 – SB07
“Transforming our built environment”
Georgia Myers BPD BPC (Hons)
PhD Candidate