2021 was a wild year for the Australian property market. We saw astronomical growth and demand for both sales and rental properties. Total dwelling unit commencements rose 23.2% – with developers reacting to this increased demand. But as we have now commenced 2022, the question stands – how do you make the most of these shifts? Today we wanted to chat about the key trends we think will come to the fore this year and how to plan your marketing to capitalise on these opportunities
Let’s look at the trends and how to optimise your marketing for them
1) Location-based growth
We’ve already seen this happen, but chances are this will continue into this year. With borderless buying becoming more prevalent with the nation slowly starting to open up, areas such as South East Queensland are seeing huge upsurges in demand. This will likely result in an equilibrium of demand and therefore prices across some of our biggest cities – with Sydney no longer being the sole holder of the highest rent and property purchase prices.
- Use location-specific marketing techniques. Create variations of content for those moving interstate to those within the state your development is in.
- Assess your competitors. If you’re looking to stand out in a competitive space it’s important that you have a unique proposition for buyers. Think about the language, imagery and choose carefully the hero CGI renders that best represent your development.
2) Seachange + tree change
Related to the above, we’re seeing a big shift in demand toward nature-filled locations. This is especially true in the downsizing demographic who are looking for a new lifestyle after previously being tied to cities for their careers. This is also mirrored in other audience groups where remote working has become a new possibility. The pull to cities for opportunity is waning, and many property hunters are more considering their quality of life rather than commuting distance as a deciding factor.
Marketing which highlights the beauty of nature
- Tap into the reasons why someone may be considering migrating to a coastal or remote area – the change in lifestyle and comparisons to the city.
- Photos of your location are incredibly powerful tools in selling the property. They are ultimately what helps to sell the project as they bring the lifestyle to life for potential buyers.
3) Emergent new markets
With a marked increase in prices and demand, we’re seeing a drop off of first time buyers. Understandably the volatile market is somewhat offputting for those who are making their first entry onto the property ladder. However, there is a lot of opportunity in those at the other end of the ladder – looking for purpose-built, luxury homes and apartments using the equity from downsizing.
Market to these new demographics
- Key here is really getting to know your audience – understand their financial position, their mindset and aspects of a property or development that they prioritise.
- Think about who in this demographic has the buying power or influential say – is it the wife of a couple, an investment advisor or an independent buyer. Really dig into their perspective, giving them all of the information they need to feel intrigued.
4) Rental price pressure
With international borders planned to open across Australia, there will naturally be an increased pressure on the rental space to offer temporary to midterm accommodations for students, skilled migrants and travellers.
Create marketing that still invokes trust
- With prices hiking up, there may be some mistrust in development companies and agents. New entries to the market may be hesitant to make a move. So the key here is creating a level of trust in your marketing.
- Ensure you’re delivering information of value that will support buyers in finding the right property for them and key aspects they should be looking for in their search. Not just sales-driven content but actual resources.
- In your marketing assets go beyond the features of an apartment or home. Build up a vision of the lifestyle they can come to expect living in the property and why the price is justified.
5) The inevitable slow down
With all of this said, as the saying goes, what goes up must come down. Predictions posit a plateauing of demand and industry growth in the late sections of the first quarter or second quarter of this year.
Make the most of your marketing
- Post boom consumers will be saturated with properties and marketing materials. There is an opportunity to really strip things back to basics and offer an encouraging entry back into the market.
- Forecast pricing appropriately based on this dip and use your marketing to assure potential buyers or tenants that it’s now a more stable time to enter the market. Report on the trends and make them accessible to the average user.
And that’s the key trends we’re forecasting for the year ahead and how to get a grip of how to market for them. We hope you found this useful and have picked up some aspects of these trends that you can roll into your marketing strategy. But we get it, the world of digital marketing can be a tricky one to get your head around. If you’re looking for some help and guidance on how to strategise and create campaigns we’re here to help. Get in touch with us today to chat about how we can help you hit your sales goals in 2022.