Wellness is overtaking sustainability as the number one priority for city homebuyers as Australians increasingly seek a more natural and healthy living environment.
Features such as solar access, orientation, temperature, natural ventilation and highly sophisticated on-demand lighting that aligns with our circadian rhythm, now sit at the top of wishlists for many educated homebuyers.
The intense glare the pandemic brought to our home lives won’t result in a mass migration to regional areas, as many speculated. Instead COVID has fused a focus on healthy living into our ideas on what constitutes an ideal home in a village or community setting.
“The concept of higher quality living spaces is what we are seeing buyers wanting and gravitating towards,” Mirvac Head of Residential Stuart Penklis said.
“Like many things, COVID has resulted in an acceleration of that trend.
“There has been a strong focus on sustainability but buyers are now realising they want that quality of life within their homes, within their apartments. It’s an area we’re now focusing on, to match the credentials outside the apartment to those within.
“There is now a great understanding among buyers of the role our homes can play in terms of our health and wellbeing.”
Mirvac committed to meeting this market demand with its groundbreaking Portman on the Park development at Green Square in inner city Sydney. It’s the first residential building in Australia to seek and be awarded a Well V2 Building Standard Certification, which gauges the impact of the built environment on our physical and mental wellbeing.
The certification is based upon the 10 concepts of Air, Water, Nourishment, Light, Movement, Thermal Comfort, Sound, Materials, Mind and Community, that create a healthier living environment physically and mentally.
Such was Mirvac’s confidence in the project, building began before any off the plan sales were made. Of the building’s 320 homes, due for completion in 2023, 50 per cent have already been sold.
Acclaimed architect Tina Engelen who designed Portman on the Park said: “we care so much about our bodies, it follows that we should care about how we live”.
“You want your home to be like that loose fitting cotton shirt you wear on a summer’s day. Not like some polyester number that makes you hot and sticky and uncomfortable,” she said.
“Luxury is not all about brass and marble, its about feeling really comfortable, having spaces we live in that are in proportion. We are not battery hens.
“When we make our habitats and eco systems work for us, then everyone is happy.”
Mr Penklis said he had observed the wellness trend come to the fore over the past six months, especially on the ground in Mirvac’s display suites and in his discussions with potential buyers about what they want in a home.
“Five years ago buyers might say they were interested in sustainability but when it came to a reduction in the purchase price they would take that instead,” he said.
“Now when it comes to a healthy home and healthy living, that is their priority – a high quality living space – above price.”
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