Family Charactersticks and Transitions Assignment Sample

• Subject Name : marketing researchh

Marketing Research

Introduction to Family Charactersticks and Transitions

In the year 2012-13, as per the research conducted there are a total of 8.9 Million households in the region of Australia. Out of the total household group, 74% of them are families, 23% of the remaining population is lone person household and 3% are classified as group households from the total population of the household sector of Australia. (Family charactersticks and transitions, 2012-13).

Therefore the main problem that is faced by the Household sector is to invest money in which sector either for the families, for the lone person households or for the group households.

The Research Process

Out of all the population of Australia, the total population of Families in Australia is 6,070,316 out of which 1.8% is the percentage of families with children and 0.8 is for all the other families. In Australia the home with mortgages and home with renters have increased. Increasing the supply of houses, tax-free savings for first home buyers and regional development should be some of the steps taken up by the Government I in order to battle up the crisis that is being faced by the household sector of Australia , so that more and more population can invest money I the household sector rather than living on a rented or a mortgaged property. (Rahman, 2010)

Since more and more people are working towards saving and living o rents and mortgaged properties, so it has affected the household sector, changing the money transactions which can be clearly seen in the balance sheet. Because of this situation, there is an onset of Global financial crisis (GFC) with households reducing their accumulation of Debt and investing their savings at the deposits which have a lower risk. All these factors are adversely affecting the Australian economy as well as the Households companies in Australia. (Owen Freestone Danial Gaudry , Anthony Obeyesekere and Mathew Sedwick, 2012).

Secondary data means referring to the data collected by others and using it for own research. It included work published by the Government organizations, researchers and many other researchers. As per the researches the composition of families has changed drastically. As per the data collected there is a high ratio of families without children where the age of the female partner is between 24- 34 years of age and the lower proportion age of female partner is 45 to 54 years of age.

Moreover the composition of the families also includes other family members, and sometimes may also include unrelated individuals. When it comes to children, families with children of 0 to 17 years of age out of which the youngest child is aged between 5 to 9 years are intact families and the families in which the youngest child was aged between 10 to 14 years of age amounts to 68% of the families.

When it comes to employment status of the members of the families, over 3.4 million children out of the total population 48%lived with the parents where both the parents are working whereas 42% of the population lived in the family where the mother was employed for full fill and the families where the mother was employed for part time amounted tp 52% of the population.

After the estimation of the population of families and children, even couples living together constitutes to a art of the population. Out of the 17.6 million adults, 64% are currently married either by getting themselves properly registered or by the concept of De-facto marriage.

Since, after the establishment of the AIFS (Australia Institute for family studies) in 19880, significant changes have occurred in the Household sector of Australia. Since the rate of working women are increasing substantially, which is making more and more people to invest in the household sector because of the increase in the income of the family. While both the genders are working together simultaneously so the income and the savings of the family is also increasing and an increase in the saving will let to more people investing in the Household sector.

Even if the people are investing more and more in the property, the prices of the properties are also increasing tremendously because of which the level of debts are also leveling up. Most of the Australian Households, the majority of debt are either for owner occupied dwellings or for investment properties. The number of population of Australia who has invested money in the Household sector just for the sake of as an investment have also increased at a shooting rate, because people are known to the fact that the demand for property in Australia is increasing and the prices also differ each and every day. So more and more people are investing in the same. But because of the current Covid-19 pandemic prevailing throughout the globe, there has been a substantial decline in the income of people which has led to less and less people investing in the household sector. (Warren, 2020).

For many Australian Households, investing a part of their saving in the household sector , it is the largest component that constitutes a household wealth. In 2003/04 the amount of owner occupied property amounted to $350,000 whereas in the year 2017/10 there has been a shooting rise and the amount has turned out to $5,00,000. Similarly keeping aside the occupied property, there has been an increase in the rented property also. In the year 2003/04 the rented property amounted to be 1.4 million, whereas in the year 2016/17 the amount has increased to 2.2 million.

The Following diagram shows the Household assets and liabilities 2004/4 to 2017/18

(ABS (2019) 6523.0 )

Since more and more people are investing in the household sector, so the amount of Debt is also increasing for the same. Twenty Years ago the amount of Debt was $50 in debt for every $100 of income. The amount has now increased to about $150 in debt for every $100 dollars of income. People are investing more and more part of their income to the places from where they expect a return

The following table mentioned below shows the mount of household debt in Australia and How tremendously it has increased with the time spam:-

The research also specifies that whenever an Australian purchased a property 85% of the money is borrowed and the remaining money is the amount which they invest up from their pockets.

Analysis of Family Charactersticks and Transitions

From the above research done from the various different legal sources and other sources of data, it is very clear that more and more people in the region of Australia are investing money in the property as a safe side investment. The analysis of the population figures of Australia clearly shows that majority of the people in Australia are living as families where the amount of children are one or two. Couples who are not living together also signifies to a decent number in the population of Australia. But because of the current Covid-19 situation prevailing in the nation, the ratio of people that were investing in the property sector have reduced simultaneously. When it comes to how the people collect amount for the same, the marketing research shows that most of the people borrow money for the same. The debt ratio of the Australian sector has also increased because of the same.

From the renting point of view, there has been an significant increase in the rented property also as the people who are not able to afford the expensive properties in the household sectors they go for renting one for themselves and later after saving up the money they purchase one. Therefore, the businesses of renting sector in the Australia have also increased because of the same.

From the earning point of view, now the females are earning as equally ad the man of the house, so the amount of income in the house is increasing and because of which the men and women contribute equally to the investing as well as the saving part. Children planning are also done keeping in mind the amount of earnings that they have and how much are they are willing to expand for the same.

Conclusion on Family Charactersticks and Transitions

Sky high Real estate developers want to understand the concept of Australian household and families.so after 20 years also the scenario will be came to an extend that the Household sector will be one of the most demanding sector in the economy when it comes to investing money in the same, and more and more people will be investing in the same. The work of the financial institution will also be more because in order to purchase a property in the household sector, many people will be borrowing money for the same. Therefore the work of the financial institutions will be also doubled or tripled up.

Therefore the advice that can be given to SK high real Estate developers who wants to understand the present structure of Australian Household sector for the business of household sector can be:-

• Since more and more people will be investing in the household sector, so you should as a builder keeps the amount of the property effective and efficient than the other builders selling the product. If at a lesser price the purchaser is getting the same services, so defiantly he will come to purchase the property that is being sold at a price less than the price being offered by the other builders for the same property. Moreover since from the above research it is clear that the families in Australia are nuclear now, so to build house keeping in mind the fact that now more and more investors will invest in the property which will be perfect for them sand there family and since the property rated are also slightly high so investing in a small property will be a better option for the as it will fit their budget and requirements.

• The second recommendation I would like to make is that since from the above research it is clear that since more and more people are borrowing money form the market ij order to purchase property, keeping it as a source of investment. Therefore it is advisable from my side that with the opening of the household business, a non-financial institution can be also opened by the same company, which will provide loan services to the people buying property at a cheaper interest rate from the other financial Institutions that are prevailing in the market. This will attract more and more clients toward them and the business will run at a more speedy and profitable rate. Therefore opening a financial institution alongside the business can be of great profit for them and this is not something new, most of the big organizations and business entity provides financial help , benefit and borrowing facilities to the people who are purchasing there offers and products that they ere offering in the market.

Works Cited for Family Charactersticks and Transitions

(2012-13). Family charactersticks and transitions. Australian Bureau od statistics.

(2915). Family charactersticks and tracnsitions . Australian Bureau of Statistics.

ABS (2019) 6523.0 . Australian Institute of family studies .

Owen Freestone Danial Gaudry , Anthony Obeyesekere and Mathew Sedwick. (2012, April 02). The rise in Household Saving and its implications for the Australian Economy.

Rahman, m. (2010). The- Australian Housind market- understanding the cause and effects of rising prices. Polict studies, 31.

Warren, D. (2020). Families Then & Now : Income and Wealth . Aausrtralian institute of Family Studies .

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