Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Agents should take note of changing housing trends

By Shane Kempton
02 October 2015 | 1 minute read
Shane Kempton

There are now more than one million apartments in Australia, and this figure is rising every year due to important social changes in the property market.

The latest Census showed that the number of apartments in Australia topped one million for the first time.

The Census revealed that there were 1,056,236 apartments in Australia compared with 932,862 apartments recorded during the previous Census.

Advertisement
Advertisement

Overall, the Census revealed that apartments accounted for 13.6 per cent of all dwellings in Australia, which compared to 13.1 per cent for the previous Census.

More people are residing in apartments due to the fact that a large proportion of our population is now living alone.

This trend was highlighted by that fact that the Census stated that some 24.3 per cent, or one in four of all households in Australia, were comprised of people who lived alone.

The Census also revealed that there are now some 1.8 million lone-person households in Australia.

This high number of lone-person households is encouraging more investors to purchase higher-density homes such as apartments to cater for the growing rental demand for these types of homes.

Apartments are also favoured by investors because they are low maintenance and generally deliver higher rental returns than a standard home.

The reality is that more and more apartment developments are now appearing in suburban areas especially around transport hubs, such as train stations and shopping centres.

This will create new selling opportunities as well as challenges for all real estate agents moving forward.

The biggest challenge for the industry is that many real agents have traditionally focused on marketing family homes that highlight the attributes of suburban living, such as large internal spaces, back gardens, swimming pools, etc.

These strategies have suited this market with home opens, for example, being held at the weekends to appeal to families who tend to be busy during weekdays because their children are at school.

Selling apartments requires a different marketing approach because the demographics this product appeals to are very different from the family market.

Single people or downsizers without children are free to view homes on weekday evenings and require an agent who can fully brief them on the all aspects of the development, such as strata fees.

In addition, many of these apartment developments are sold off-the-plan, unlike a traditional family home that is already constructed.

Off-the-plan selling can be very challenging, and agents need to be able to go into precise details about a building that has not been constructed.

Agents should take note of changing housing trends
Shane kempton200115
lawyersweekly logo

Tags:

ABOUT THE AUTHOR


Shane Kempton

Shane Kempton

Shane Kempton is the chief executive of Professionals Real Estate. He is an experienced, well-respected real estate identity and chief executive committed to effective development of teams. His reputation is built on honesty, integrity, confidentiality and ethics, all highly valued traits of this influential leader.

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.