Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Australia & Oceania is experiencing significant growth and development.
Customer preferences: Customers in Australia & Oceania are increasingly looking for properties that offer a high standard of living and amenities. They prefer properties that are located in desirable neighborhoods with access to good schools, healthcare facilities, and recreational areas. Additionally, there is a growing demand for properties that are energy-efficient and environmentally sustainable. Customers are also interested in properties that offer modern designs and innovative features.
Trends in the market: One of the key trends in the Real Estate market in Australia & Oceania is the rise of urbanization. As more people move to cities in search of better job opportunities and a higher standard of living, the demand for residential properties in urban areas has increased. This has led to the development of high-rise apartments and condominiums in major cities across the region. Another trend in the market is the growing popularity of vacation homes and holiday rentals. Australia & Oceania is known for its stunning natural landscapes and pristine beaches, attracting tourists from around the world. As a result, there is a strong demand for vacation homes and holiday rentals, especially in popular tourist destinations.
Local special circumstances: Australia & Oceania is home to a diverse range of cultures and communities, each with its own unique preferences and requirements when it comes to real estate. For example, in Australia, there is a strong demand for properties with outdoor spaces and gardens, as Australians value outdoor living and entertaining. On the other hand, in some Pacific Island countries, such as Fiji and Samoa, there is a preference for properties that are located close to the beach and offer ocean views.
Underlying macroeconomic factors: The Real Estate market in Australia & Oceania is influenced by various macroeconomic factors. One of the key factors is population growth. As the population continues to increase, there is a greater demand for housing, both for owner-occupiers and investors. This has led to an increase in construction activity and the development of new residential projects. Another important factor is the state of the economy. When the economy is performing well, with low unemployment rates and strong GDP growth, there is greater confidence among buyers and investors, leading to increased activity in the Real Estate market. Conversely, during periods of economic uncertainty or recession, there may be a slowdown in the market as people become more cautious about making large financial commitments. In conclusion, the Real Estate market in Australia & Oceania is experiencing growth and development driven by customer preferences for high-quality properties, the trend of urbanization, and the demand for vacation homes. The region's diverse cultures and communities also contribute to the unique preferences and requirements in different countries. Additionally, underlying macroeconomic factors such as population growth and the state of the economy play a significant role in shaping the market.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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