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Hitwise Intelligence - Sandra Hanchard - Asia Pacific
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Housing Bubble Searches in Australia at all time high
March 11, 2010
Housing affordability in Australia is currently a hot issue with a recent rise in interest rates, an end to the first home buyers’ grant, and subsequent slowed lending. Despite this, pressure on house prices remains high with a fast growing population and a shortfall in housing development.
There is potentially an element of desperation amongst home buyers and this is reflected in their search behaviour. Search traffic around the term ‘housing bubble’ was at its highest point during the week ending 6 March 2010:
Property websites have attracted strong growth in visits year-on-year from two very different Mosaic Lifestyle groups - “Community Disconnect” and “Privileged Prosperity”.
“Community Disconnect” households are best described as ‘Older blue-collar workers and retirees in country and coastal locations’. Much of the visit growth was from the Mosaic sub-segment “Fractured Families” - Disadvantaged singles living in inexpensive accommodation. Their strong interest in property websites could be reflecting pressures on finding rentals amidst stock shortages.
“Privileged Prosperity”, the wealthiest segment online, was the second highest household type to increase visits to Property websites over the year. The prominence of this group is indicative of property interest by the investor community.
I’d be keen to hear your thoughts on other changes to search behaviours we’re likely to see from Australian home buyers this year.
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Posted by Sandra Hanchard at 04:23 PM
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