TRANSPARENCY, TRUST AND THE PANDEMIC CREATE DRAMATIC CHANGES FOR AUSTRALIAN REAL ESTATE

August 19th,2021

Lockdowns, the pandemic and climate change are impacting so heavily on the nation that the real estate industry is poised for massive changes that will significantly reshape our work and lifestyle environments in the future.

Real Estate Institute of Australia (REIA), ‘Megatrends for Australian Real Estate Report 2021’ identified nine key issues facing the future of the industry with the pandemic and environmental issues the key priorities.

The report has found that more than ever, the industry needs to look beyond the traditional sector and historical trends to identify future threats and opportunities.

REIA President, Adrian Kelly said the COVID-19 pandemic and environmental crisis has blurred the boundaries more than ever between work, family and leisure and this is creating severe issues for the real estate industry.

“Prior to COVID there were already signals of a “portfolio approach” to life, where people sought to create balance between work and life through flexible work arrangements and adoption of technology.

“This is particularly true for white collar workers. Previously working from home was an option available only to a few, with employer scepticism of employees’ ability to perform in a non-structured