Cities live up to their full potential when they’re inclusive. Yet the skyrocketing cost of housing is threatening to turn many urban environments into exclusionary zones. To guard against such a scenario and enable more people to find opportunities in urban areas, cities need to develop creative, diverse, and affordable solutions for all types of housing.
Factors that are changing the way we live include both consumer trends, which are creating demand for new forms of housing, and construction industry trends, which affect how organisations operate and what they can supply.
On the consumer side, they highlight the continued urbanisation as populations move toward cities, demographic influences on family and thus household size, a desire for greener homes and thus a focus on sustainability, affordability, and the rise of the digital economy which has increased the desire to work remotely.
On the supply side innovative construction technology like Australia’s one-armed bricklaying robot are part of a technological revolution sweeping construction.
Also changes to construction methods such as pre-fabrication and modularisation are being used to improve productivity, while ever evolving technology is making our houses “smart” and more efficient. Technology is also helping bring builders closer to the end buyer as well as helping solve some of the productivity and skills shortage issues.
Though conventional single- and multifamily homes aren’t going away, new forms of residential housing will become more widespread and, eventually, could surpass traditional dwellings. New types of housing that meet the demands created by new trends and future residences will probably include elements of multiple of new types of housing that meet future demands and expectations.
To prepare for these shifts in the housing market, construction industry stakeholders must understand what the changes mean for their existing operations and figure out how to adapt.
Ultimately, a company’s specific actions will depend on its industry segment and specific circumstances.