GROUP 4 URBAN DEVELOPMENT

Segment 14: Urban Renewal

Urban Renewal neighbourhoods are defined as those undergoing significant changes in character. This is usually the result of re-development of older residential suburbs, replacing traditionally low density areas of standalone houses, with medium and high density dwellings such as apartments and high rise residential buildings. Consequently there is an older population, many being widows, that are being replaced by a younger generation. These neighbourhoods have a very diverse ethnic mix. Household incomes are mostly above average and the property values are quite high. The older homes tend to be owned, whereas the newer homes are more likely to be rented.

The younger residents are generally well educated, with degrees and post graduate qualifications common. The market sectors employing these graduates are commonly banking, finance, IT, transport and warehousing. Their vocations are often biased towards professional, administration and clerical roles.

There is a medium level of credit demand, and the credit risk profile is slightly higher. The highest demand for credit is for communications services, with some demand for real estate mortgages.

Entertainment choices for this segment are related to the split nature of the residents. They often attend BYO restaurants, the casino and local licensed clubs. Fashion and intellectual pursuits appeal to the younger population of this segment, while the older population are more likely to regularly attend a place of worship.

Newspaper preferences are also split between both broadsheets and tabloids. Both types of publications are read more frequently than in the community in general. Magazine preferences are usually for titles such as Home Beautiful and Better Homes & Gardens, along with Money Magazine and Ralph.

Television viewing preferences include SBS football presentations and SBS news for current affairs. For lifestyle viewing, popular programs include Judge Judy, Australian Idol and Better Homes & Gardens. The ARN - Classic Hits Network (WS FM, Gold 104.3, 4KQ, Cruise 1323) is the most popular radio network, as well as the ABC NewsRadio channel on the ABC Network.

Response levels for direct mail are in line with the community average, and information from charitable institutions is of most interest.

Examples

Towns & suburbs in this segment

  • NSW:

    Padstow, Ryde, Hurstville, Wentworthville, Revesby

  • QLD:

    Coopers Plains, Sunnybank Hills, Sunnybank, Macgregor, Upper Mount Gravatt

  • VIC:

    Doncaster, Doncaster East, Preston, Coburg, Pascoe Vale South.

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.