Welcome to April and it’s crazy to think that the first quarter of the year is already behind us.
March has continued the trend of February being quite a challenging month – and I’ve done some research into this – as anecdotally, I heard that people found similar issues across the board.
The mood in the construction industry has been quite sombre so far – Australian Securities & Investments Commission (ASIC) data shows that 1,236 companies in the construction sector have gone into liquidation, receivership or administration so far in 2022-23. This compares with a total of 1,284 for the entire 2021-22 financial year. (Article here – There are some interesting statistics and graphs in the above article – so check them out if it’s of interest)
And one of the highest profile collapses last week was Porter Davis, 12th largest home builder in the country.
On the flip side, the demand for property hasn’t diminished; maybe the supply side has adjusted as auctions clearances are pretty strong – the national auction market reported a clearance rate of 68.5% at the weekend, which was higher than the 63.4% reported last weekend but lower than the 74.0% recorded over the same weekend the previous year. Read more about it here – https://propertyupdate.com.au/this-weekends-auction-results-what-happened-in-sydney-melbourne-brisbane-adelaide-canberra/.
Here is something that you may need to be aware of – March 2023 is a time of increased solar activity. The Sun goes through an 11-year cycle of activity, and March 2023 will mark the peak of Solar Cycle 25. During this period, the Sun can emit more solar flares and coronal mass ejections, which can cause disturbances in Earth’s ionosphere and affect radio communications and satellite operations.
Whilst all this is more relevant for astrophysicists, I sometimes wonder whether all this impacts people’s moods and the added pressure of what’s going on in the economy.
I mentioned last month that quite a few of our projects had stalled; they’re finally moving again, and there’s renewed activity in the custom visualisation space – so perhaps as the marketing tide shifts, other areas pick up.
There was a great response to last month’s feature video on artificial intelligence – so here is part 2 of the interview series with Dr Jamie Sherrah. This episode discusses how property development professionals can use generative AI to research and develop project concepts. Click here to check it out.
This month’s feature project is Wattle Rd, Hawthorn and the 6-camera point visual impact evidence photomontages needed to be created. The project has received the notice of the decision to grant a permit after an arduous journey through the City of Booroondara planning process and, ultimately, a VCAT mediation to reach the outcome.
And finally, I’m proud to have completed my first triathlon event last Sunday and, even better, ended up with a 2nd place medal in my age group category. So pumped to have gotten to this point after some of the earlier challenges in getting onto the bike riding. If you’re interested in a deeper dive into my experience of the first triathlon – click here to have a read.
All the best for your month ahead and reach out with any comments,