Australia’s currently going through some issues with the housing market, to the dismay of a lot of people in the construction industry, including those that handle timber floor installation in Sydney, but many are optimistic that the country’s deeply-rooted affection for their homes, considered by Aussies to be their most important asset and investment, will pick up the slack.
According to a report from Boston Consulting Group, while Aussies may not change their love for their homes, their homes just might change. According to their report, Building the Housing of the Future, authors Daniel Feldkamp, Christian Guse, Ailke Heidemann, Mathhias Tauber, Tobias Shcriefl and Till Zupancic, argue that there are forces which are changing how residential housing operates across the world, which, in turn, change what types of housing people opt for.
They say that the factors which are altering the idea of ‘home, sweet home, are consumer trends, and construction industry trends. The former, they explain, change housing thanks to demand shifting to new forms, utilizing different materials or methods, like timber floor installation in Sydney, while the latter changes how organisations across the world operate, and what they can offer to people.
On the consumer side, they point towards increasing urbanisation, as more and more people migrate to the cities, demographics influence family, and, as a result, desirable household size, as well as the increasing desire for greater sustainability and affordability, alongside the rising digital economy making it easier and more desirable to work remotely.
As for supply, industry trends are embracing technology, utilising innovative construction technology like robotics and automation. Authors point, to other technological developments, like pre-fabrication and modularisation resulting in improved productivity, while the internet of things refines homes, increasing their efficiency. Builders and buyers are now closer than ever thanks to technology.
As a result, the authors say that conventional homes, for single and multiple families, aren’t going away, not in any time soon, but they’ll be taking new forms, possibly even becoming more commonplace than more ‘traditional’ dwellings. These changes, BCG says, will be driven by trends, with future homes incorporating multiple developments.