The housing market has been largely in hibernation over the winter months, however, with recent improvements in the economy, the industry is starting to come back to life!
What's happening?
Consumer confidence and business confidence are both increasing, as a result of the RBA's decision to drop the OCR.
As consumers feel more confident about their financial future, they are starting to think more about the housing market. Open home attendance has increased by 42%, and auction attendance is up 12% to the highest levels experienced since January.
How can MediaWorks support clients in the short term?
As interest in the housing market increases, it’s important to harness short term demand, while harvesting longer term brand preference and front of mind awareness (future demand)
The opportunity is significant: Close to half a million kiwis are considering buying a property in the next 12 months, with 203,000 considering selling, and 125,000 thinking about building. This is the active market / short term demand.
Further to this, are the 2 million consumers who are passively interested in the market, and who haven't yet realised the need. This is the future demand.