Welcome to May,
Maybe it’s the last gush of the warmer weather or the slowing down of the rate rises, but April has been a very positive and robust month for us. The project starts volume doubled that of March, with primarily visual impact evidence projects planned out for every month of the year from here on – but residential project marketing is starting to come back too.
There is also anecdotal evidence from talking to real estate agents across the eastern seaboard who feel that perhaps the property market cycle has reached the bottom and may head up from here. Further evidence from Corelogic’s national Home Value Index (HVI) has increased by 0.6% in March – its first month-on-month rise since April 2022 – after remaining virtually flat the prior month (-0.1%). Link here.
So maybe we’ve turned a bit of the corner – there are a bunch of factors that are starting to offset the higher interest rates and increased cost of living – a massive influx of new Australian migrants (up to 650,000 over the next couple of years), international students coming back to universities, and a significant shortage of available housing stock both for sale and lease.
This month in the feature video interview – the series on Artificial Intelligence Systems is continuing, with the next episode being on content creation. This is where AI systems shine – from text-based outputs to images and videos generated from text inputs, hopefully soon to 3D.
Dr Jamie Sherrah talks about ChatGPT and many other tools that have come out of obscurity in recent months and onto the world stage. By leveraging web scraping techniques, AI systems can extract vast quantities of relevant data from multiple sources on the internet, including social media, news articles, and other online content, providing a rich and diverse pool of information to draw from for content creation. Click here to check out the episode.
This month’s feature project is a medium-rise apartment building on Riversdale Rd, Hawthorn East. We developed a set of visual impact evidence photomontages for last month’s VCAT hearing. Click here to check it out further.
This month’s feature article discusses barrel distortion in photography for visual impact evidence photomontages. The question of photography distortion comes up quite regularly in VCAT hearings as the opposing side attempts to establish a way to discredit the photomontages. There are some key elements to ensuring the photography is compliant, which generally sorts out this question. Read the article to find out further.
Thanks for checking out my thoughts on the month passed and what’s ahead.
I look forward to catching up in a month,