What does this article suggest will happen in the foreseeable future in the property industry, and how will it impact Welly Real-Estate? Perhaps advise some possible options for the company moving forward?
Within the property report are several interviews with multiple directors and executives of real estate companies, generally all the information they provided corresponded and confirmed the viability of the information. The basis of the information provided was the gradual and steady increase in demand for housing in nearly all areas of the country; this is due to increased immigration. The increased population growth together with the existing problem of low supply and high demand in the housing sector is set to raise demand even further. In particular the increase in house sales as immigrants are set on owning a house rather than renting. A statistic provided by Bayley’s Managing Director, Mike Bayley, was the “…surge in land sales zoned for medium- to high-density residential developments…” which are said to have affects on the sector’s activity in the coming 18 months. The start of 2014 has seen signs of more properties coming onto the market, closing the gap between demand and supply. Carey Smith of Ray White Real Estate says this will allow more choice for buyers, with prices holding for at least a few months. Mike Bayley also predicted another year of rising house prices. The result of these changes/ trends in the real estate market are set to have a positive impact on Welly Real Estate. This is due to the increased activity (buying and selling of houses) due to population growth and consumer confidence (developed further in my next blog post on 16/03/2014). Advice to give to Welly Real Estate based on the information I have extracted from this article would be to focus on encouraging clients on selling property while both house prices and demand to buy/ rent property remain high.
This comment has been removed by the author.
ReplyDeleteWhat does this article suggest will happen in the foreseeable future in the property industry, and how will it impact Welly Real-Estate? Perhaps advise some possible options for the company moving forward?
ReplyDeleteWithin the property report are several interviews with multiple directors and executives of real estate companies, generally all the information they provided corresponded and confirmed the viability of the information. The basis of the information provided was the gradual and steady increase in demand for housing in nearly all areas of the country; this is due to increased immigration. The increased population growth together with the existing problem of low supply and high demand in the housing sector is set to raise demand even further. In particular the increase in house sales as immigrants are set on owning a house rather than renting. A statistic provided by Bayley’s Managing Director, Mike Bayley, was the “…surge in land sales zoned for medium- to high-density residential developments…” which are said to have affects on the sector’s activity in the coming 18 months.
ReplyDeleteThe start of 2014 has seen signs of more properties coming onto the market, closing the gap between demand and supply. Carey Smith of Ray White Real Estate says this will allow more choice for buyers, with prices holding for at least a few months. Mike Bayley also predicted another year of rising house prices.
The result of these changes/ trends in the real estate market are set to have a positive impact on Welly Real Estate. This is due to the increased activity (buying and selling of houses) due to population growth and consumer confidence (developed further in my next blog post on 16/03/2014).
Advice to give to Welly Real Estate based on the information I have extracted from this article would be to focus on encouraging clients on selling property while both house prices and demand to buy/ rent property remain high.