Hi, I would need your help on one of my literature review topic ( Gen-Y preferences and trends in Australia ) . Instructions are given below. Pls use footnote as references . Thank you so much.
Research Topic: Understanding the drivers that influence Generation-Y’s participation in the Australian property market
1) Generation-Y’s Preferences & trends
where they live, where they grew up, parents mainly Baby Boomers, convenience, spoiled, moving out later from family home, grew up with technology, more informed, tech savvy, more socially connected, smaller world, trends catch on quicker, impatient, want things now,
try to tie in with property> do they enter the property market later? more dependent on parents? more renters than home buyers? marry later? smaller household? more functional living, harder to please, less social creatures could mean moving out later too? or not interested in larger community living? used to be supply drive> products made and pushed out whereas now demand driven> made to suit demand?
6 Sources are given below. However, you need to find more sources ( at least 10 sources in total )
=> More so than previous generations, having been used to living in smaller dwellings, and probably more likely to have less children than the previous generation, you probably will see more gen Y owner occupier demand for apartments and townhouses and relative to where it was previously more so in established areas as opposed to the outer suburbs,” he said.
=> Statistics!!!!!!!!! Jericho 2014
• average wealth per household age. in terms of property, super, other financial assets
• home ownership rate by age group
• change in home ownership rates
• house prices v earnings
• change in government benefits per household (cash, health, benefits)
3) Identifying linkages between generations and the property market: the effect on residential and retail property. (attached document source 1)
This paper examines the role of demography when researching property markets, with the focus placed on demographic shifts. The study concludes that when conducting research into property markets. it is essential to have a thorough understanding of various demographic variables to predict how they affect demand. An appreciation of the drivers behind generations will assist property researchers to identify future needs, and the subsequent effect this will have on community development involving retail and residential property.
4) More Apartment Developers Eye Gen Y.
author: Rowan Samantha
a shift of target market for developers!
5) NEWS – Gen Y to fire up a market in flux
By the time of 2020, baby boomers no longer the dominant force in the property market. The gen Y look for affordability, lifestyle and accessibility when comes to properties. Therefore, apartment will be an ideal home, as it is low maintenance, walkability and in the location where they wan.
He also believe that the diff generation type with diff housing demand may change Brisbane inner and middle ring suburbs in the next three decades
Gen Y preference of staying in cities/ urban/ > affordability