The strategy "Revitalising Housebuilding Demand" aims to increase the demand for new housebuilding during economic challenges by using financial incentives, improving marketing, and enhancing product offerings. Financial incentives include actions such as offering reduced mortgage rates through bank collaborations, tax credits for first-time buyers, and government-backed subsidies. For example, providing targeted eco-friendly housing incentives or zero down payment schemes encourages potential buyers.
Improving marketing involves conducting market research, launching national campaigns, and leveraging social media influencers to reach young audiences. Hosting virtual tours and collaborating with real estate agents can also boost awareness. Finally, enhancing product offerings focuses on designing homes for remote work, offering modular options, and incorporating smart home technology. Building in high-demand areas and expanding affordable housing also plays a significant role.
The strategies
⛳️ Strategy 1: Provide financial incentives
- Offer reduced mortgage rates through partnerships with banks
- Provide first-time homebuyer tax credits
- Implement government-backed subsidies for new homebuyers
- Introduce deferred payment plans for initial years
- Create schemes for zero down payment for eligible buyers
- Develop targeted incentives for eco-friendly housing
- Collaborate with lenders for flexible repayment options
- Increase grants for low-income families
- Offer property tax breaks for new constructions
- Establish energy efficiency grants to reduce long-term costs
⛳️ Strategy 2: Improve marketing and outreach
- Conduct market research to identify target demographics
- Launch a national advertising campaign promoting the benefits of new housing
- Utilise social media influencers to reach younger audiences
- Host virtual tours and webinars to showcase properties
- Develop informative content on the benefits of buying now versus waiting
- Partner with real estate agents to spread awareness
- Create a referral programme to encourage word-of-mouth promotions
- Develop an easy-to-navigate website dedicated to new developments
- Participate in property expos and trade shows
- Collaborate with local communities to understand and meet their needs
⛳️ Strategy 3: Enhance product offerings
- Design homes that cater to remote working spaces
- Introduce modular and customisable housing options
- Focus on sustainable and energy-efficient building practices
- Expand the range of affordable housing projects
- Incorporate smart home technology as a standard feature
- Offer flexible floor plans to cater to diverse family needs
- Develop mixed-use communities with accessible amenities
- Prioritise developments in high-demand areas and commuter belts
- Explore public-private partnerships to access land
- Regularly gather feedback to continuously improve product offerings
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
