RESEARCH: the wanted ads Property - life becomes more local
Provided by Newspaper Society
A study into the UK residential property market and the critical role of communication channels in influencing specific action.
What was the Challenge / Background of the Campaign?
Local Media offers advertisers the opportunity to reach over 80% of the UK population across all life stages, lifestyles and income levels. To demonstrate the strengths of Local Media the NS has developed an ongoing programme of research called the wanted ads. The wanted ads Property is a UK-wide quantitative study which gives a snapshot of attitudes and behaviour in the property market during this very tough economic climate. The research was conducted for the NS by Continental Research to provide insights into those who are actively buying, selling or renting a property.
What was the Campaign Objective?
To give a snapshot of attitudes and behaviour in the property market during this very tough economic climate.
What was the Solution?
the wanted ads Property research, used quantitative methods to study a sample of 1250 respondents who were actively buying, selling or renting property. The research not only looks at general perceptions and activity of buyers, sellers and renters, but also at the critical role of communication channels in influencing specific action. We also examined the impact of communication channels on helping choose property-related services including mortgage brokers, removal services and solicitors.
What were the Results?
- Life is becoming more local, the average distance that respondents were looking to buy or rent a property from where they live currently is 14 miles.
- Local reputation is critical in the instruction process, with 61% of seller respondents agreeing that local reputation is the most important factor when choosing an agent.
- Local media is the most trusted medium for property advertising; 31% of all respondents agreed local media was the most trusted and reliable.
Please download the attachment for a full breakdown of the results.
What were the Key Learnings of this Campaign?
What is very clear from the research is that life remains very local across the UK and for those in the property market, the continued importance of 'bricks & mortar' estate agents.
Above all, in a tough market where advertising/communications budgets are equally challenged, the research identified the unique and dominant role of local media across all stages of the process.