Building Green, Living Green: Assessing the Economic Viability of Sustainable Housing Initiatives in Australian Cities

Abstract

Addressing the current climate crisis has been an important concern for many countries, and the housing industry has made a significant contribution to global carbon emissions, introducing sustainable housing has the potential of reducing these problems. Urban economic sustainability can be understood as an approach through which benefits lower housing costs can be achieved. The present study has closely observed two of Australia’s sustainable housing initiatives and how they can be successful in improving the biodiversity of the region. The country has been seen to struggle with making sustainable options affordable for the people as green technology is generally more expensive. Sustainable houses have been considered to be economically viable because they have introduced many passive energy designs such as solar and wind designs. While the cost of these green initiatives continues to remain high, the study has shown the potential it holds and the need for government support to make these projects more successful.