The annual New Homes research, commissioned by realestate.com.au, has become much anticipated with land developers and home builders. A Market Researcher specialising in the new homes market, REA Group's Stacey Lewis presents the findings of the latest study of more than 1000 buyers on their property journey to a new home, focusing on their wants, needs and attitudes in 2020.
Stacey Lewis’s four key trends for buyers of off-the-plan homes include:
#1 Quality of new homes isn’t just about new apartments
New home buyers want to know about quality of the homes and it’s one of the key factors that inform builder choice.
Key Action: Be proactive in communicating quality in your key channels – display homes and online. Consider communicating the ‘unseen’ to reinforce quality assurances, such as build processes, materials, quality control etc.
#2 New home buyers are anxious about making the right decision.
Market conditions are having a strong impact on decision making – if they don’t feel confident that now is the right time to buy they will hold off.
Key Actions: Provide resources and information to help buyers understand the current market context – you don’t have to be the expert, but find people who are and create resources to consumers understand.
#3 Townhouse appeal is driven by both a cultural shift, as well as cost / economic factors.
Largely buyers still want the same core property characteristics from a townhouse. Communications and product should reflect both lifestyle and cost driven townhouse seekers.
Key Action: Consider both mindsets in how you promote and cater to the townhouse market.
#4 Sustainability matters
New home buyers want sustainability for new homes, but currently this is mostly limited to addressing running costs and self-sufficiency. However, given the broader context we expect sustainability to be demanded more holistically in the future.
In future, we should consider the sustainability stories we can tell in terms of:
- Building Techniques
- Longevity / Quality
- Running Costs
- Future impact
Key Action: Start thinking about strategies for delivering sustainability options / stories now to ensure we are prepared for the future.
About Stacey Lewis
A Market Research Analyst at REA Group, Stacey is a passionate researcher, driven by her curiosity to dig deeper into how people think, what they want, and the motivations that link them together.
She has over 10 years’ experience across a range of subject matter – from informing federal policy, through to brand and advertising development. At REA she specialises in understanding the landscape of new property buyers – who they are, what makes them tick and the influence of the external factors on decision making.
Stacey also presented Developer Insights – Apartments
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