As part of the celebration of its 50th anniversary, the CENTURY 21® brand explores the concept of home in a unique collaboration with National Geographic CreativeWorks, culminating in the production of its first-ever branded documentary. Entitled “Home Rediscovered,” the documentary will premiere on the National Geographic Network on September 23, 2021 at 10 p.m. EST.
To support the film, the CENTURY 21® brand commissioned a global research study with Magnetic Collective, an idea-driven consulting firm, to explore how the last year transformed the modern home and what these changes could mean for the future of homeownership and the real real estate industry. The study was conducted using quantitative analysis and qualitative interviews with real estate agents, builders, recent buyers and prospective buyers in five key global markets, including the United States, France, l ‘Australia, Spain and Japan.
The survey was based on responses from 1,500 people (300 in each market), aged 25 to 64 from April to May 2021. The documentary “Rediscovering Home” weaves the results of the study and examines several trends in housing issues that emerged during the pandemic that are expected to shape our vision of the home for the foreseeable future.
Key points to remember:
- There hasn’t been a single universal pandemic experience as countries have followed their own COVID calendars with varying peaks and restrictions, creating a home-buying process that varies geographically.
- The US, Spain and France were all once epicenters and have gone through some of the longest lockdown and restriction periods
- Fifty-eight percent of buyers in France say COVID will have a lasting impact on what they want in their home; 43% of buyers in Spain say COVID has been the most influential when it comes to their desire to buy a new home
- The influence of COVID on some aspects of the home buying process in the United States is more evident for those with children and those who work from home
- Australia and Japan initially experienced a slowdown rather than a lockdown, but the more recent emergence of COVID in Japan leaves 48% of future buyers say it was a factor in their desire to buy a new home
- Twenty-two percent of respondents worldwide say they moved because a family member moved in, resulting in a universal need for flexibility and re-imagining of spaces
- In Australia, children are now more likely to stay at home during their college years, until they find a job with a stable income
- In Spain and Japan, children stay at home until age 30 or marriage
- The pandemic has forced people to stay close to home, but even when looking to relocate, they don’t go far.
- In all markets, most respondents reported having moved within 20 miles or kilometers of their current home; longer distances (more than 50 miles or kilometers) are more common in the United States and France than in other markets
- Twenty percent of American and French buyers traveled more than 50 miles or kilometers, compared to Spanish and Japanese buyers, less than 15% traveled that far
- Low inventories and rising prices continue to be hot topics in the United States and in all markets.
- Low inventory of homes in the top five challenges people face in all of the markets studied; all markets have had difficulty finding housing that meets their needs.
- In the United States, according to the National Association of REALTORS®, the numbers of public inventories from May to June increased by 3.3% and the numbers of internal inventories also tend to increase, which has led to optimism. early in terms of increasing supply.
- France has experienced a boom in the “suburbs” (suburbs) with soaring property prices in the suburbs, a trend even more accentuated due to the pandemic
- As Australia fares better than other well-developed countries due to zippers, internal border controls and strict social distancing measures, residential property values have risen steadily over the past year. .
- Urban theft is happening all over the world, but it doesn’t appear to be a lasting trend.
- Future buyers in all countries surveyed are more likely to stay in urban areas by a large margin (compared to recent buyers)
- In the United States, 82% of future buyers will stay in urban areas. In Japan, this number is 80%; 59% in France, 73% in Spain and 62% in Australia
“It’s no secret that the past 18 months have been a wild ride for the real estate industry,” said Michael Miedler, president and CEO of Century 21 Real Estate LLC, in a statement. “What was once a seasonal business that had expected results month after month has been completely turned upside down by working from home, homeschooling and postponed life events. We were excited to work alongside Magnetic Collective and National Geographic CreativeWorks to delve deeper into how these lifestyle changes would impact consumers’ view of the home and ultimately the future of our industry.
“Regardless of the challenges and changes to come, we were delighted to see that surveyed buyers in all markets see the benefits of having an active and engaged real estate professional, like our C21® Affiliate Agents, taking on multiple roles and being a partner throughout the journey, ”added Miedler. “All of these lessons will help ensure that we continue to deliver the most extraordinary experiences possible to all of our customers around the world. “
“Home Rediscovered” is a 45-minute film hosted by National Geographic explorers Andrés Ruzo and Dr. Rae Wynn-Grant. They met a diverse group of families and individuals who uprooted their lives, bought homes, moved or just rethought the way they want to live, now and in the future, as they explored what the future of the house in the world. world.
For more information, please visit www.century21.com.