Ever wondered if energy-efficient homes are the next big thing in real estate? Or is the industry still lagging on this? In this episode, we're diving into how sustainability is shaking up the property game, and we've got Jacob Caine, president of the Real Estate Institute of Victoria, to give us the inside scoop. Jacob was at the 2024 UN Climate Change Conference, representing Australian real estate, so he knows what's up. We're talking about how climate change – from crazy weather events to skyrocketing energy bills – is changing what buyers want and how much homes are worth. Will houses with bad energy ratings become impossible to sell or get a loan for? We're also looking at how banks are getting involved, new rating systems, and how energy-efficient features are becoming more than just a nice-to-have – they're protecting your investment. But there's also the practical stuff: what can homeowners and investors do right now to stay ahead of the curve? Jacob's got tips on everything from solar panels to minimum rental standards, and how these changes will affect everyday decisions about property. So, if you're curious about how property, climate, and money all fit together, this episode is packed with info you won't want to miss. Episode Highlights: 00:00 - Introduction 01:11 - Who is Jacob Caine? 02:04 - What motivated Jacob's attendance at COP 29, and what were his key goals? 03:33 - How important is Australia’s contribution to the global sustainability movement? 08:21 - How reliable is CoreLogic’s analysis without a rating system for existing homes? 14:18 - How soon will energy ratings become a key factor in property markets? 21:05 - Will banks require property upgrades to approve financing? 25:11 - What does resilience mean in the context of property? 27:41 - Do home builders have a valid point about energy efficiency standards raising costs? 36:53 - How quickly can we transition to renewable energy according to the model? 41:58 - Energy ratings or home renovations: which one is responsible for price increases? 48:46 - Do you agree that property managers are getting overwhelmed by new requirements? 52:54 - Should energy efficiency efforts prioritise apartments over individual houses? 59:03 - Jacob Caine’s property dumbo About Our Guest: Jacob Caine is the CEO of Ray White CRE and is serving his second term as President of the Real Estate Institute of Victoria, with directorship roles at the Real Estate Institute of Australia and View.com.au. A licensed estate agent with extensive leadership experience, he has an impressive academic background, holding a Bachelor’s degree from Melbourne University, an MBA from Monash, and a Master’s in International Relations from Harvard, where he graduated on the Dean’s List. Currently pursuing a PhD at the National Security College (ANU), Jacob’s research focuses on the evolution of cyberattacks. His professional credentials include certificates in leadership, negotiation, and international security from Harvard, among others. Connect with Jacob Caine: Ray White CRE https://raywhitecre.com.au/Website https://view.com.au/LinkedIn https://au.linkedin.com/in/jacob-caine-30195647 Resources: Visit our website https://www.theelephantintheroom.com.auIf you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.auLooking for a Sydney Buyers Agent? https://www.gooddeeds.com.auWork with Veronica: https://www.veronicamorgan.com.auLooking for a Mortgage Broker? https://www.flintgroup.auWork with Chris: chrisbates@flintgroup.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcastSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765See omnystudio.com/listener for privacy information.
