Limited supply of broad hectare development land and challenging housing affordability in metropolitan areas are key issues facing the residential market in Australia.
Population movement to regional areas of Australia has been very strong in recent years, drawn by a combination of affordability, lifestyle and employment opportunities.
This environment will make regional patterns of residential development an important dimension for business planning and development.
The Regional Residential Building service will analyse trends and prospects in demand and supply for residential building in regional areas. The service will initially be available for New South Wales, Victoria and Queensland. Subscribers can receive the service for one or more states. The analysis and forecasts will be useful for a variety of purposes, include resource planning, marketing and performance analysis.
Regional analysis forecasts will be based on BIS Shrapnel’s established methodology for forecasting residential markets. Underlying demand for new dwellings will be based on population growth and demographic trends.
Demand will be compared with recent trends in residential construction, to provide estimates of supply-demand balances, and contribute to forecasts of dwelling construction.
Analysis of the supply-demand position will provide insights of relevance for residential property outlooks at the regional level. Forecasts will be made for all statistical divisions with the relevant state – we will comment on recent trends at a more detailed level, to identify growth patterns in specific regional centres.
The forecast horizon will be 18 months – out to June or December of the following year and will be split between houses and other dwellings.
This service will provide a report each six months, with the subscription covering two editions of the forecasts. We aim to produce the report on an April and October cycle, commencing in April 2005.
