Welcome to April – it has been a pretty quiet April’s Fools day this year – after all that we had to endure over the last 12 months, I don’t think people were in the mood for too many pranks 🙂
The property train has been rocketing along buoyed by the low-interest rates, continued government subsidies (although the HomeBuilder program is finishing up, there are still other concessions still in place) and cash savings by most households.
Reading this article – ANZ economists sharply lifted their forecasts for house prices, tipping a nationwide increase of 17 per cent through 2021. Sydney, which already has a median house price of almost $1.1 million, is tipped to experience its largest one-year jump in prices since 2015. Melbourne house prices are expected to lift by 16 per cent this year, its largest single-year increase since 2010. Brisbane is forecast to have a similar increase while Perth house prices are forecast to lift by 19 per cent.
The last time house prices nationally lifted so much was in the late 1980s in a property boom that was ended by double-digit interest rates and the 1990-91 recession.
So interesting times are ahead – but recovery in house prices is the golden goose that the federal government has been waiting for as our economy, in general, depends so much on it as one of the major factors.
In our news – we’ve gone through the 600 projects count since we started so that was a major milestone and are now gearing up towards delivering even more interactive projects to our clients – more and more developers are turning to these technologies as a competitive edge to stand out in a crowded marketplace.
This month we are completing the series on Furniture Staging for Property Developments – this time around, Rebecca Wood from BoConcept Adelaide talks about how they create a seamless transition for buyers being able to select the same furniture pieces that interior designers chose in the 3D visualisations. Check out the video here.
For the project feature this month – I wanted to highlight the custom visualisations we created for one of our environmental sustainability champions – Biofilta and The Sustainable Landscape Company. For two of their upcoming community gardens – we produced aerial photomontages of how they are going to look. Check them out here.
As always, I look forward to hearing about your comments,
To your development success,