population of the Caulfield postcode 3161 is 14,554 based on the 2011 census. The male population consist of 7,002, while female population are 7,552. The median age is 37 years of age as being revealed in the Table 1. (Australian Bureau of Statistics, 2011).
Caulfield: post code 3161
Male
Female
Median age
As being revealed in the table 2 below, the total private dwelling in the area is approximately 6,393. However, the median weekly income is $1,735, while the monthly median income is $6,940.
All private dwellings
Average people per household
Median income per household (weekly)
$1,735
Median mortgage repayments (monthly)
$2,210
Median weekly rent
As being revealed in the table 3, the Australian consists of the 58.5% of the whole population of the postcode. The South African and people from Poland consist 3.4% each, while the English people constitute 2.7%. Based on the data, the Australian will form largest population of the market for the Alpha Property development Group. The theory of segmentation and targeting will be relevant in this case because it will be critical for the company to focus its marketing attention on the Australian rather than the minority group.
Table 3: Country of birth
Caulfield North
Australia
8,519
58.5
South Africa
3.4
Poland
3.4
England
2.7
Israel
2.6
China (excludes Taiwan and SARs )
2.4
The next step is to analyse the employment population of the postcode. As being revealed in the table 4, the total number of people in labor force is 7,720, which is 53% of the population (14,554). Out of the 7,720 in the labor force, 58.2% are full-time employees, while 31.7% are part-time workers.
Table 3: Employment
Caulfield North
Worked full-time
4,492
58.2
Worked part-time
2,450
31.7
Away from work
5.7
Unemployed
4.3
Total in labor force
7,720
Meanwhile, the paper analyzes the age segment of the post code to enhance a greater understanding of the age categories that will form the major market for the company. By 2011, the median age of the post code was 37 years. However, children between 0 and 14 years are 16.3% while people over 65% are approximately 15.7%. Typically, children and people over 65 are 32% of the postcode population. Thus, 32% of the postcode population will not be appropriate market for the company. However, 65% of the post code population may be the appropriate market for the company.
Table 4: Age
Caulfield North
0-4 years
6.0
5-9 years
5.2
10-14 years
5.0
15-19 years
5.2
20-24 years
1,222
8.4
25-29 years
1,332
9.2
30-34 years
1,108
7.6
35-39 years
1,026
7.0
40-44 years
6.0
45-49 years
5.8
50-54 years
6.4
55-59 years
6.2
60-64 years
6.1
65-69 years
3.5
70-74 years
3.0
75-79 years
2.4
80-84 years
2.9
85 years and over
3.9
Analysis of the above data reveals that the major market for the company will consist of the Australian citizens since the Australians are approximately 58.5% of the population of the postcode. Similarly, 58.2% of full time workforce may be Australians.
Table 5: Dwelling type
Caulfield North
Occupied private dwellings
5,510
91.1
Unoccupied private dwellings
8.9
As being revealed in the table 5, 91.1% of the private residential houses are occupied and 8.9% are not occupied. As being revealed in Fig 1, the purchaser will be 26% of the population and renting will be 35% of the population.
Fig 1: Occupancy
Source: My Data (2013).
The Table 6 also reveals the median price, gross rental yield and quarterly growth of the properties.
Table 6
HOUSE
UNIT
Median price
$1,352,000
$605,000
Quarterly growth
12-month growth
3-year growth
14.15%
5-year growth
20.45%
34.44%
Average Annual Growth
Weekly median-advertised rent
$650
$380
Number of sales
Gross rental yield
Days on market
75.72
64.65
The paper recommends that the company should invest in residential properties based on the data collected from the Australian census data. From the data collected, more than 91% of the private residential properties are occupied revealing that the company will realize market advantages by focusing on the residential property. Moreover, the DSR (Demand to Supply Ratio) for the residential properties in the region is above average. In the region, the market for the properties is above the national average. (Tomorrow Finance. 2012). However, it is very critical for the company to focus on the market segment of people between 20 and 44 years of age because this age group will consist of the largest percentages of market for the company. (Real Estate Review, 2013). This trend is likely to continue in the future because only 47.7% are married in the post code, while 37.6% are never married and 14.7% are separated divorce or widowed. Meanwhile, average people per household is 2.5, thus, it is critical for the company to focus on the dwelling that can only occupy two or three people at a time because largest percentages of the households in the postcode will only require the dwelling that can occupy two or three people.
Other recommendation is that the Australians will form the largest percentages of the market for the properties because Australian forms the largest percentages of the segment enjoying the full employment in the postcode. Thus, the theory of targeting and segmentation can assist in understanding the marketing strategy to use in identifying which segment of the population that the company will direct its marketing campaigning. The analysis of the data collected reveals that it is essentially to target the marketing campaign on Australian rather than the minority group in the postcode. (Suburb Profile, 2012).
You’re 84% through this paper. Sign up to read the full paper.
Sign Up Now — Instant Access Already a member? Log inAlways verify citation format against your institution’s current style guide requirements.