Will the Australian property sector seize the upside of disruption?

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EY, in conjunction with the Property Council of Australia and the Green Building Council of Australia, has explored disruption in the real estate sector and the transformative trends that define the present and determine the future of real estate.

The report, Will the Australian property industry seize the upside of disruption? combines the feedback and views from a survey of more than 550 industry executives and senior managers, interviews with 15 industry CEOs and research into the megatrends that will shape the future of real estate.

The report challenges the ‘safe as houses’ notion of real estate and questions whether the processes required to create a building, the business model which delivers it and the societal norms which drive it, can all be disrupted.

Smart technologies, big data, robotics and autonomous vehicles are explored as some of the forces that will drive change in the sector.

Five questions leaders should be asking themselves

  1. What business are you in?
  2. Who is your customer?
  3. Who are your competitors?
  4. Who are you aligning with?
  5. Is your culture playing it ‘safe as houses’ or ready for innovation?

The importance of looking to the future

We present this report as an introduction and will follow with more in-depth thought leadership and events to inform the industry, so that it may embrace the upside of disruption.

We believe there are eight large transformative trends that will define the future and further details can be found in our Global megatrends  report.

"We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten. Don’t let yourself be lulled into inaction." Bill Gates