Group 4
Urban Development
The Urban Development group represents metropolitan growth centres. Some are suburbs undergoing substantial re-development and others are in the new estates, in expanding metropolitan areas. this leads to a mix of young families in recently constructed homes, as well as traditional and more mature residents in older houses.
Typically, this group earns above average to high household incomes, and their mortgage levels are higher than usual. they are often found working as self employed tradespeople and professionals. Credit demand is very high as the younger members of this group start to set up home and accrue assets, while the older members are realising their biggest asset, their house.
Continuing credit and personal loans are also in demand, and the credit risk profile for this group is above average.
Segments In this Group
Disclaimer: Owing to the nature of segmentation, information provided in a segment descriptions is indicative only. Images are broadly representative of characteristics associated with group descriptions.