With new government regulations and proposed legislative changes, the market segment of social housing is expected to shrink significantly over the coming years. The impact is already easy to estimate. According to a National Housing Federation report, 27,000 planned-for homes aren’t going to be built at all because of the new regulations.
What does it all mean for sector representatives?
Effective advertising and having a strategic approach will become more important than ever. The very same report, mentioned in the beginning of the article, states that social housing has a relatively bad reputation and this is one of the main reasons why it’s getting even more marginalised. The use of video to promote social housing is one of the viable options for overcoming such barriers and reaching prospects that have a specific interest in such opportunities.
The Current State of the Market
According to an official government report, there were 66,640 affordable homes provided in the 2014-2015 period. The number of homes made available for social and affordable rent went up by 64 per cent on an annual basis.
Approximately 16,080 social home ownership completions took place during the same period – an increase of 41 per cent on an annual basis.
This data is presenting an upward trend but what will happen in 2016 and the years to come? Keep in mind that social housing completions represented 47 per cent of the market in the 1970s and 20 per cent of the market in the 1980s. Putting things into perspective is painting a different picture. Some international and economic developments have also had their pronounced effect on the UK property market.
It’s important to point out that after the US Federal Reserve raised interest rates for the first time since 2006, Bank of England followed with a similar decision. Higher interest rates will obviously limit the number of potential customers for the property industry.
Because of this expected mortgage increase and because of the government’s Help-to-Buy scheme, a steady increase in property prices is expected in the first months of 2016. This tendency is expected to destabilise the poorer segment and have a significant impact on social housing projects.
Social Housing Marketing: Using Video to Deliver a Cost-Efficient, Targeted Message
Video is one of the top promotional means for all representatives of the property industry. Social housing providers aren’t an exception. The use of online clips enables personalisation and targeting. It simplifies the process of reaching the right prospects and delivering a message that will get these potential customers interested.
On top of that, video promotion can be truly versatile. Companies can use clips to accomplish a vast range of goals. Some promotional videos are used for the purpose of employee training, others present annual reports (can be used to establish reputation within the field), traditional videos deliver an interactive property presentation and clips can even be used for the purpose of showing the “human face” of social housing. Interviews and recorded chats are very informal and personalised, which makes them quite effective.
Helping Social Housing Grow
Effective and targeted video promotion is one of the opportunities that can be used to help social housing grow.
To experience the benefits and keep the costs limited, it’s imperative to find the right partner for the execution of the project. The right partner is a company that’s built its reputation in the field of video marketing and that has also worked on property-related clips in the past.
We’re one such company and our portfolio contains ample evidence to justify the claim. We understand the needs of sector representatives and the challenges that they face. This is one of the main reasons why our social housing video solutions are affordable and highly specialised.
Please take a look at what clients have to say about our work or contact us today to get started. Social housing deserves a fair chance in the changing market conditions. To even out the playing field, it’s crucial to choose an advertising tool that’s affordable and that can easily get the job done at the same time.