What we've learned from the Research Foundation
Four years ago, the Institute formed a Research Foundation. The purpose was to learn consumer sentiment about housing in our State and share these pivotal insights with our membership. We also wanted to uncover the market trends that made our industry tick and weave this evidence into our advocacy work.
We undertook our first consumer sentiment study in November 2015. The objective was to quantify purchase intentions in the Queensland property sector. Data was collected from a representative random sample aged 20+ and spread across South East Queensland and 7 regional locations. In 2018, we’ll be revisiting this consumer sentiment study to identify trends and understand how consumer preferences are changing.
So, what were the findings?
First, we learned that when choosing a place to live majority of Queenslanders place more value on lifestyle and access to amenity rather than the size of their backyard.
Today’s consumer wants to live near amenity like schools, parks, cafes, jobs, and public transport and when they are making their purchasing decision, the quality of this amenity is more important than the size of their backyard. And, they’re ok with raising their family in an apartment if that apartment meets their housing needs. We also learned that established families with school aged children are less inclined to move house beyond their immediate suburb.
Because of these findings, combined with the ongoing qualitative research undertaken as part of our Industry Leaders Research Group, a new opportunity for a housing product in South East Queensland was identified. That is a housing product that fits between a high-rise and stand-alone house on a single block of land. Its referred to as the “missing middle” and we’ve made it a priority to create more opportunity for our members to deliver this product through our advocacy and policy work.
The evidence from our research has also supported a number of other policy achievements like changes to the definition of greenfield and infill in Shaping SEQ. We’ve also used this research to support our work with local governments to benchmark infrastructure charges and fees, and to changing the definition of a storey to facilitate more useable rooftop spaces for residents. We’ve also advocated for important changes to the way we communicate with the community, including increased transparency around infrastructure charging. And during the Queensland election campaign, the re-elected Palaszczuk Government committed to full disclosure on council websites, relating to the collection and spend of infrastructure charges by suburb.
In 2018, we want to continue to power our members with key intel. We understand how important community engagement in the property development life-cycle, so we want to break down the barriers and help translate the gobbledygook the community hears into something that is welcomed with open arms.
We’re excited for the next phase of work that our Research Foundation is undertaking, and we’ll be sure to bring you along for the ride, too.