Greening home improves saleability, outperforms less energy-efficient buildings

ALTHOUGH the “green revolution” in residential property is admittedly still in its infancy, rapid strides in technology and increasing awareness of the potential cost savings and reduced environmental impact are making good sense to more and more home owners and buyers, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“Unquestionably, c o n - sumers are becoming more interested in energy conservation due to the frequency and inconvenience of load shedding and significantly increased electricity costs. There is also concern about one of the planet’s most precious natural resources – water.

“As energy-saving features become more popular, homes that incorporate such features will no doubt rank higher on the scale of considerations among home buyers. Although it’s not possible to quote actual figures, there is no doubt that buyers are looking at residential properties offering green or energy and water saving features as well as emergency or back- up power solutions in preference to properties that don’t offer such features. In a trend which started 12 to 18 months ago, green features and energy efficiency are definitely adding to the saleability of a property.”

Golding says newer and brand new buildings, such as those in residential developments like Val de Vie Estate in Franschhoek, Baronetcy Estate in Plattekloof and Steyn City in Fourways, Gauteng, frequently have design green features. These include solar heating, water saving and recycling, water- wise g a r d e ns wit h indigenous plants, LED lighting with time switches and sensory capabilities and insulation to conserve heat or for cooling, and back- up power solutions such as invertors or generators.

At Baronetcy Estate one home is already off the grid and others are being built, and the estate’s security cameras and electric fencing are managed on a solar, off-grid system which is particularly relevant during load-shedding.

Anthony Stroebel, group marketing director for Pam Golding Properties and a newly- appointed director of the Green Building Council of South Africa, says greening a home need not be prohibitively expensive.

“This is one of the reasons why PGP has partnered with the GBCSA, to drive a better understanding of value in the residential property market when it comes to a home’s green credentials. Fundamentally, this has a positive impact on the running costs of a home, whi l e p r e s e r v i n g s c a r c e resources and reducing the impact on the environment.

“Our vision is to reach a point in the hopefully not-toodistant future, where green features become integral to a home’s specifications when selling and that buyers understand the value of this compared to less green homes,” says Stroebel.

“Our aim is to meaningfully influence the green agenda in the domestic space – it will increasingly impact how our clients perceive value in property, and our economic and social development depends on it. In the GBCSA’s innovative My Green Home project run earlier in the year, the council spent six months working with t h e N g e w a n a f a mi l y i n Pinelands to green their home. In this relatively short period, the family achieved a 53 percent saving in electricity, a 44 percent reduction in water consumption and an 81 percent reduction in waste sent to landfill. PGP was one of the main partners of this project and the My Green Home Guide to Saving Money by Going Green is available to our clients.”

GBCSA chief executive, Brian Wilkinson, says: “A huge part of the success of our journey in green building and environmental sustainability in the commercial property sector has been a close partnership with industry leaders such as Nedbank and Growthpoint. It’s important for us as a relevant movement to increase awareness and penetration so entering into the residential ‘green’ home sector was a natural progression for us.

“Green building is a responsible choice for the built environment and can make an i mmediate dif f erence. Our move into green homes was accelerated by the fact that the International Finance Group of the World Bank had already developed a green rating system for residential property.

“Our My Green Home project makes the point that while greening an existing home is not an overnight experience, meaningful savings can be achieved immediately. In just one month, the Ngewana family was able to cut their elec- tricity consumption by 32 percent, simply by changing their behaviour.

“It’s not difficult to see how these savings will translate into real benefits for consumers and home owners, particularly when it comes to selling their properties. In the commercial property sector the IPD South Africa Annual Green Property Indicator showed that in 2014 green buildings outperformed less energy efficient buildings by yielding returns on income and capital growth of 12.1 percent compared with 9.4 percent – in other words green buildings yielded almost 30 percent more than traditional buildings,” says Wilkinson.