When owning and operating any business it’s important to not only recognise but also utilise every possible resource available to you. As builders there are a number of reports and statistics that can highlight massive opportunities for growth and areas to expand into. Reports on market trends and projections, growing suburbs or communities, new estates and even interest rates can indicate what may lie ahead and in turn can be included in your planning process.
This information is available in a number of outlets from mainstream news, building and construction bodies (i.e. Housing Industry Association), reports from financial institutions and state government authorities. The challenge is finding the time to source the information and dissect it; this is what separates a good business owner from a great business owner – it allows you to act PROACTIVELY rather than RE-ACTIVELY, so rather than following the trend, you can set it.
When using these reports it is important to remember projections are often made and while it is valuable to know and understand this information, there is no guarantee this will occur however it is wise to prepare for the possibility of it.
The New South Wales Department of Planning & Environment recently released their population, household and dwelling projections from 2011-2031. This is an example of information that highlights some of the greatest areas for growth within the metro area, information that is EXTREMELY valuable for builders wishing to grow their business.
The projections highlighted the population figures, demographics and dwellings required to foster the increase. This included the types of families that would be expected within the coming years and total dwelling figures.
How does this information help a business?
If the predictions reveal a significant increase in population it is clear there would be an opportunity for builders as these people will need a place to live. With the demographics also at hand a builder can identify the age of individuals and type of families that are expected to increase, that information will provide an insight to what would be required. If there is a significant rise in lone people aged in their 20s-30s you can assume a double storey home is not what they’d be after, they may be more interested in buying or renting an apartment or loft.
For full report please click here.
Our Franchise Sales Managers assist builders in recognising areas of opportunity including upcoming developments and work with them to take full advantage of the possibilities. Sales Consultants also receive training and are encouraged to monitor developments, and build relationships with developers and real estate agents in order to capitalise on any opportunities that may lie ahead.
PLEASE NOTE: The statistics listed in this report are projections and were provided by the NSW Department of Planning and Environment and were correct at the time of release. These figures are not guaranteed and should be treated as predictions, not facts.
All images were created by and belong to NSW Department of Planning and Environment.