Housing Industry in Brisbane-Free-Samples-Myassignmenthelp.com

Question: Make a Research Proposal on Housing Industry in Brisbane. Answer: Introduction: The housing industry is one of the most revenue generating industries of Brisbane. However, as compared with the other parts of Australia, the nation is still lagging behind, with the fall in the median house price by 1.4 percent to $532,504 which is so far the sharpest quarterly decline reported by the local market since the September 2011 (Liu et al. 2016). The proposed research intends to evaluate the overall prospects and current trends of the Brisbane housing industry. Justification of the Topic: Brisbane housing industry has been currently encountering slow growth rate since the year of 2013. Although the annual growth of the industry is 3.4%, the market has been more or less volatile that is also evident in the shocking compression of market price. This will help the housing and construction companies like Hutchinson Builders to evaluate and address the factors that are leading to the fall in the profitability of the market in Brisbane. So far Brisbane has been able to enjoy a thoroughly sustainable and consistent growth in the housing industry until recently when the consumers have started exhibiting preference on Melbourne and Sydney. Nevertheless, Brisbane has huge prospects in the housing industry and thus the research will help to examine and critically analyze the factors that are affecting the growth of the housing business in Brisbane. The research is useful as with the help of a number of economic indicators, it will show there is a cause for concern in the propert y market. Literature Review: Brisbane is surely flourishing as far as its housing industry is concerned. Not only are new units and apartments getting set up here, but exciting developments in the construction projects such as Queen Wharf Project, are also transforming the housing industry of Brisbane. However, the growth rates of the industry is milder than expected, and it is worthwhile to mention here that the house values have been rising by only 2.6% over the past year across Brisbane, while the unit values have actually fallen by 3.1%.Out of Brisbanes weakest spots for growth, Sandgate has been declared as the worst performer, with prices falling just under 15 per cent (Byrant 2015). Brisbane has been found to experience a very sharp decline with the house prices increasing merely by 3.4% (Byrant 2015). It is important to note here that the recent record levels of apartment building in Brisbane is found to impact the Brisbane unit market with the median unit price falling by 3.8 per cent over the March quarter to as low as $376,760 (Hall 2017).The home price is remarkably down here as compared with other parts of Australia, such as Melbourne and Sydney, as demonstrated here: Figure 1: Brisbane Housing Market in Comparison with other Cities of Australia Source: (Hill 2017) Brisbane is likely to enjoy growth over the coming years owing to interstate immigration, improved job growth as well as the affordability factor otherwise absent in the larger capitals. The growth condition of Brisbane housing industry should also improve as rental yields are substantially much higher in Brisbane and the pricing strategy of most of the Brisbane housing companies is highly affordable. In case of suburb housing properties, the price should be kept low and one can charge high in case of the most popular localities of Brisbane such as Carindale, Camp Hill and others. There is an increasing demand for the secondary dwellings as well, also known as the granny flats. Methodology: The data to be collected for this research will be both primary as well as secondary. The primary data will be collected by organizing an interview session with selected five managers of Hutchinson Builders and asking them about what is the prospect, growth rate and annual profit rate of the company in its Brisbane market. The stratified sampling technique will be chosen for this selecting the respondents of the interview. The secondary data will be collected and critically analyzed with the help of the business journals, published business articles and business reports of the Brisbane Real Estate companies, case studies, and others. Desired Research Outcome: After the completion of the research project, it is expected that the study will help in enlightening about the prospects of investing in the Brisbane housing industry. It will help in giving a clear idea in the form of statistical data as well as personal responses of the managers, about the recent growth trend in the housing market, the causes behind the downturn in the industry and steps to overcome the same. The research will also give an insight into the dwelling preferences of the people living in Brisbane. Expected Timeline: Research Activities Weeks Weeks Weeks Weeks Week selection of Research topic Literature Review Data collection Data analysis Final business Research thesis Conclusion: The housing industry of Brisbane is expected to experience a growth in profitability considering the improvement in the economic condition of the people living in Brisbane and the high prices of the housing properties. However, the research project will help in giving a better insight into the condition of the housing industry. Reference List: Bryant, L., 2015. Developer charges and housing affordabilty in Brisbane, Australia. Bryant, L.E., 2015.Who really pays for urban infrastructure?: the impact of developer infrastructure charges on housing affordability in Brisbane, Australia(Doctoral dissertation, Queensland University of Technology). Hall, M., 2017.Brisbane house market primed for growth. [online] Weeklytimesnow.com.au. Available at: https://www.weeklytimesnow.com.au/real-estate/queensland/the-brisbane-property-market-ticks-most-of-the-boxes-for-future-price-growth-corelogic/news-story/6132fd12a1baa9991e71551d29baad3c [Accessed 9 Aug. 2017]. Liu, E., Easthope, H., Judd, B. and Burnley, I., 2016. Housing Multigenerational Households in Australian Cities: Evidence from Sydney and Brisbane at the Turn of the 21st century.Housing in 21st-Century Australia: People, Practices and Policies, p.21.