Making sense of the Census
It’s been a long time coming but the housing market results of the 2021 Census are finally emerging.
Our team of analysts didn’t hesitate for a second to get stuck into the data and some of the results are fascinating already.
Data is the new oil
In 2006, British mathematician Clive Humby famously coined the phrase, “Data is the new oil”. Data now powers entire industries and holds tremendous value – but if left unrefined, is effectively worthless.
This is absolutely the case when it comes to Census data, particularly because the Census took place during the lockdown. With millions of records of data and a myriad of potential trends and insights, it needs to be placed in expert hands.
The hyper-local Dataloft approach to Census data
Since November 2022, the Census 2021 data has been released topic by topic. The housing Census data was released in January 2023.
The data is provided at a very detailed level using Office for National Statistics (ONS) geographies called ‘Output Areas’. For our Dataloft Inform customers to make use of this data, we have converted the Census data at Output Area level to the more familiar ‘postcode sectors’. We also use the data to reveal patterns and create insights at a range of different geographies. A hyper-local view is powerful, but we want to ensure that we reveal the bigger picture too.
Dataloft Inform – home to Census insight
We have taken the housing market Census data to a micro level to tie in with the local needs of our Dataloft Inform subscribers. Dataloft Inform users have access to a wide range of market insights, content and collateral, right down to postcode sector.
The updated Census data is readily available in Dataloft Inform and feeds through to various outputs. These include charts, commentary, market reports and our range of Smart Pages for automated website content.
There are also a number of non-Census datasets in Dataloft Inform that have been refreshed and converted to useable postcode sector statistics. Updating information on things like the number of restaurants, % of households near to outstanding schools, listed buildings, open green space and access to public transport allows our subscribers to paint a rich picture of their local market.
Why is understanding the Census important for estate agents and other property professionals?
Having a better understanding of the type of people living in your market can only boost the sophistication of the conversations you have with them. We are all better informed about the property market these days so it’s important to maintain a knowledge gap over your customers.
Using the data and analysis from the Census will allow agents to demonstrate their knowledge of the local area and what it means for demand for homes (for buyers, renters, investors and developers).
We work with many leading agents. Something that makes them stand out is that they nurture their database and connect with potential customers on an ongoing basis, whether through email, social media, blogs or door drops. What makes these marketing activities work is the quality of the content within them. Sharing knowledge of the Census is interesting for consumers, as well as showing that you are a local market expert.
Infographic spotlight
As well as exploring the Census at a local level for subscribers, we bring to life some of the key findings in our infographics. Published twice a week, these explore all the latest trends in the property market. We'll be exploring a number of fascinating topics that have come out of the data. One of our early favourites so far is above. This shows that, for the first time ever, amongst homeowners, those that are mortgage free are now in the majority.