The Australian property market is always a hot topic. Rocketing house prices and the rising cost of living have forced many consumers to weigh up if they can afford to become home owners versus remaining renters.
This report will focus on the consumers looking to move home through buying or renting. It will also explore online growth across the property industry, identify brand performance at a state level and describe key audiences to tailor content and campaign strategies.
The Property industry has grown 42.5% from December 2013 to December 2016, peaking during the spring and summer months.
Property websites’ brand awareness and performance varies from state to state with All Homes seeing it’s greatest share of visits from NSW and On The House it’s greatest from Queensland.
Prospective home buyers are slightly older than renters. They are 1.3x more likely to be aged 35-44. As we might expect they fall into the most affluent Mosaic groups and over-index for household incomes of $100k+. Females made up the largest share of both audiences, this clear skew highlights that women are more involved in online research for a new property than men, this is an important consideration for campaign planning.
The House & Garden sites and searches to over-index for the ‘buy’ a property audience shows a focus on DIY and home improvement, particularly in the garden.
How has the property industry grown year on year?
The industry has grown 42.5% from December 2013 to December 2016. The graph indicates a slight lull over the winter months, highlighting less people look to move house at this time of year.
The 3.27% increase in Total Visits for August 2016 can be linked to interest rates dropping.
This top level industry knowledge can help inform sales campaign strategies throughout the year to ensure content is resonating with house movers at peak times.
It’s easier than ever for people to search for a new property with sites like Realestate.com.au and Domain operating Australia-wide. Combined these two websites make up 60% share of visits to the industry.
Looking at visits to a selection of small players in this space we can identify who has the greatest brand presence at a state level which they can use to attract valuable advertisers and potential partners.
We can also gain similar insights for real estate agents. This enables companies who don’t operate at a national level but in specific states to easily benchmark where they sit.
Two audiences come to mind when thinking about home movers, those looking to ‘buy’ and those looking to ‘rent’. Understanding the key differences between these two groups can help deliver content that is going to resonate with consumers in the research phase of moving house.
Creating audience segments of those who searched for ‘buy property’ variations or visited the Buy section of a real estate listing, versus those searching for a ‘ rent property’ variation or that visited the Rental listings section. The following insights are returned;
We can pinpoint the interests and searches preferenced by the ‘buy’ a property audience. The location searches for example can help steer search campaigns and maximise the messaging that will appeal most.
Comparing the House & garden sites and searches that this audience over-indexes for reveals they are focused on DIY and home improvement, particularly in the garden.
Higher end websites such as Matt Blatt over-index whilst IKEA under-indexed. Blogs that were popular with this audience include Zero Hedge and WordPress.
Television websites Discovery and Fox Sports over-indexed for this audience. Interestingly by comparison renters over-indexed for Main Event the pay-per-view channel.
For those wanting to engage with the rental audience the locations, searches and brands below can all be taken into consideration.
Knowing more about your clients online preferences will allow estate agents, advertisers and listing sites to make smarter decisions.
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