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The Housing Market of Brisbane PDF

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Added on  2020-03-28

The Housing Market of Brisbane PDF

   Added on 2020-03-28

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Running head: HOUSING INDUSTRY IN BRISBANEHOUSING INDUSTRY IN BRISBANEName of the Student:Name of the University:Author Note:
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HOUSING INDUSTRY IN BRISBANE1Introduction: 750The housing market of Brisbane has ticked the boxes for future growth in terms of theprices, but the same would require quite a good time to come up with the actual start that isrequired for the particular market. According to the reports of CoreLogic, the housingindustry in Brisbane has experienced a drop in the value of the price in the last month. In fact,the values went down by almost 0.3% in the first few days in July. The market has been flatfor a long time. However, there is no doubt that the industry is growing at a small rate andthat many builders and contractors can easily take advantage of the same and grow up theirbusiness. In an interview based with around 250 industry participants, it has been evident thatthe capital city has a price growth of 3.4% with the units expected to lose at a value of 0.8%in the coming year. In fact, the housing price will further move upwards and will definitelyreach out a particular position where it shall be effective enough to provide strong response tothe lowest interest rates. In fact, the rates have also been revised from that of the 2016 andthat is of the present situation. In fact is the housing industry of other parts of Australia istaken into consideration, it can be easily pointed out that the condition of Brisbane is muchbetter than other parts of Australia. Thus, the opportunity for the builders and constructors ishigh for carrying out the business activities in this regard. All these factors can easily beaccessed and that the housing industry can easily consider these factors in exhibitingpreferences on the housing activities in Brisbane. On the other hand, other particular regionslike Melbourne or Sydney are also at a competitive situation because these two places arealso found to attract good number of investors in the housing industry. Aims and objectives:The aim of this study is to evaluate the growth rate of the Brisbane Housing industry.This will help the major housing and construction companies like Hutchinson Builders to
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HOUSING INDUSTRY IN BRISBANE2understand the market demand and the growth of the industry and that how much they can bebenefitted from the housing industry. The objectives of the study are:1.To understand the actual market situation of the Brisbane Housing industry2.To evaluate the factors that are responsible for the slow growth of the BrisbaneHousing industry3.To recommend certain factors that would help the housing and constructioncompanies like Hutchinson Builders to carry on their business more effectively.Significance and relevance of the research:This particular topic has been selected for the study because it is clear enough that thehousing industry has been growing and that major businessmen can easily take theopportunity of the same and can carry on their business activities accordingly. The findingsand the interpretation of the research would be helpful for these business activists and at thesame time, it shall be a better approach towards this industry. The housing industry ofBrisbane can also help to increase the GDP of the country as a whole. Thus, carrying out astudy on this particular topic is rather important. Problem statement:Economic forecasting has suggested that there will be a stagnant or moderate fallingin the price of the houses or others related to the housing industry. There is no particularindication as when the housing industry will be at a better position either this year or incoming years. Thus, there is a pessimistic view on the overall industry that has kept the majorbusiness activists in great trouble. However, in case if the housing industry provides goodopportunities to these investors it shall be beneficial for them to improve their businessactivities. This study shall focus on the importance and implication of the increasing demand
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HOUSING INDUSTRY IN BRISBANE3of the housing and property that shall directly affect the overall economic condition of thecountry.
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HOUSING INDUSTRY IN BRISBANE4Methodology: 750This section of the study is based on the methodology that has been used for carryingout the research. It is very important to design the research in the most appropriate way inorder to get the result of the findings. Below is the detailed discussion on the methodologyused for this particular study.Research method outline:For this particular research, the positivism research philosophy has been used toevaluate the secondary data. For the research approach, the deductive method has been usedthat has made it easier to understand the theories and concepts in details. In addition to this,the descriptive or the analytical research design has been used as the research design. On theother hand, in order to collect the primary data, interview had been taken from 5 managers ofHutchinson Builders has been taken in order to get the overall idea about the particularresearch topic. Research philosophy:There are three research philosophies namely, positivism, realism and interpretivism.Philosophy helps to carry out the research in a detailed and objective manner. For thisparticular research topic, positivism research philosophy has been selected because the topicneeds to be discussed in a logical and in depth way. It is only by the means of positivismresearch philosophy, the topic can be investigated in a logical and critical manner. On theother hand, the two forms of research philosophy, namely, interpretivism and realism arebased on the human perception and the concepts can vary from one person to the other. Thus,these two philosophies are not the suitable approaches for this particular study.Research approach:
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HOUSING INDUSTRY IN BRISBANE5There are two types of research approaches, namely inductive and deductiveapproaches. The inductive approach deals with the already existing theories and deductiveapproach deals with new concepts and ideas. It has to be understood that for this particularstudy, the findings and interpretation is largely depended on the perspective of the peoplewho are directly engaged in the business activities of the housing industry. It is for the samereason, 5 managers have been interviewed and their opinion has been noted. So, thedeductive research approach has been undertaken in this respect. Research design:The three research designs are analytical or descriptive research design, explanatoryand the exploratory research design. The idea of the descriptive design is to provide a detailedand analytical view if the overall study. The exploratory design helps to understand theconcept at the initial stage of the research. It is for the same reason the analytical or thedescriptive research design has been used for carrying out the analysis of this particularresearch. An in depth idea of the critical factors that are responsible for the overall growth ofthe housing industry in Brisbane. Research strategy:The findings and implications of this particular research is based on the informationgained by interviewing the managers of the particular construction company. Therefore, theresearch strategy adopted is the interview method. It has to be understood that in order to getsufficient information from a good number of respondents, the survey method is used.However, in this particular situation, it would not be possible to carry out a survey amongpeople who shall be readily gives their point of view on this particular topic. So, other formsof research strategies have been avoided for this particular research.Sampling method and sampling size:
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