1. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 1 INVESTOR PERCEPTION OF SUSTAINABLE BUILDING IN NEW ZEALAND Preliminary findings of the research project ‘An investigation into the elements of sustainable office buildings and market value’

2. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 2 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

3. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 3 OVERVIEW  History  Methodology  Investor Survey  Scope and Limitations  Findings  Summary

4. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 4 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

5. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 5 PROJECT METHODOLOGY  Literature Review of existing research  Stage 1: Investor Survey  Stage 2: Valuer Survey  Stage 3: Market Data

6. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 6 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

7. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 7 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

8. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 8 FINDING 1: Overall Investor Perception of Sustainability

9. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 9 FINDING 2: Investor Actions

10. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 10 FINDING 3: Type of Actions taken by Investors & Developers

11. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 11 FINDING 4: Importance of Sustainability for Portfolios

12. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 12 FINDING 5: Design vs. Performance

13. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 13 FINDING 6: Investor Perceptions of Sustainability & Value

14. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 14 FINDING 7: Investor Future Objectives

15. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 15 SUMMARY OF FINDINGS  Cluster analysis identified three key groups.  1 st group – the pro-active in incorporating sustainability into their portfolio,  2 nd group – the undecided made up the majority of investors  3 rd 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

16. New Zealand Sustainable Building Conference 2007 – SB07 “Transforming our built environment” Georgia Myers BPD BPC (Hons) PhD Candidate 16 THE FUTURE…….  If you would like a copy of the findings of my research please contact me at gmyers@pgrad.unimelb.edu.augmyers@pgrad.unimelb.edu.au  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