What’s been the effect of the housing boom in Australia? You might be wondering how factors such as strategy of business have been affected. Here are some key Yair Hamami business strategy issues for 2017:
- Demand will be shifted due to affordable options
In capital cities throughout Australia, there’s been an increase in average prices. The exceptions are Darwin and Perth. Behavior is changing as a result of the drive for housing at mid-level prices.
There are various examples. Tasmania has become much more popular since 2015. In fact, the REA reports that have an effect on a strategy of business is that demand has been sky-high in the region. That includes all states/territories and all types of homes.
Meanwhile, coast suburbs are rising in popularity in New South Wales. That’s been due mainly to home buyers living in Sydney who are looking for homes that are bigger and more affordable.
Then there’s Melbourne. The region is seeing more interest from home purchasers. That’s due to bigger homes on larger blocks becoming more affordable. This has a major effect on a strategy of business.
It’s important to do your research to find out about the situation in a particular market you’re considering.
- China will continue to affect Australia’s property
This is another strategy of business issue that will affect AU’s housing boom in 2017. The demand of China for Australian property is still high. Chinese developers/buyers are linked more to Australia’s apartment developers in the country’s capital cities.
The changes that happened in 2016 included increased interest in house/land developments and Brisbane. Chinese buyers also looked for cheaper markets.
- Over-development of some AU apartment markets
This is a critical strategy of business issue to consider in terms of the country’s housing market in 2017. In fact, in recent years developers have generally favored the construction of apartments over family homes.
However, it’s likely that while apartment markets are affected by the increased demand for homes. It’s likely that markets including Melbourne and Brisbane will experience price drops. That’s a result of over-development in those areas. If you’re in the market for an apartment in those areas you should definitely consider shopping for one this year.
It’s good news for people who are shopping for a new home. It’s not very good news for those markets’ investors or banks. Better options would be other CBD markets since there’s less development in those areas. The result is a better environment in terms of strategy of business. However, the conditions in Perth are slowing down. So that’s causing some concern among banks and investors.
- Share accommodation is most popular in Sydney and Melbourne
This is another important issue to consider in terms of Australia’s housing boom. The most popular areas for share accommodation includes Melbourne and Sydney. In those particular regions, there are more people looking to share residences than the number of listings that are available.
If you’re looking for those accommodations you should consider the amenities that are available. They include bars, restaurants, shops, and public transportation access.