Hi, and welcome to the new financial year for the Australians!
We’ve dealt with the cold snaps over the last couple of weeks, and while the winter is well and truly here, there are a few positive signs on the horizon.
The ABS has just released on the 15th of June new statistics around population growth and net overseas migration, and I came across this chart below. Click on the chart to see the full release.
Our net overseas migration has jumped up to 387,000 across Australia – the highest since 2008. And combined with low levels of stock being produced – the population increase will create even more demand and likely lead to property prices increasing despite high construction costs and negative sentiment in the media. Chatting with agents as I regularly do – this was confirmed – the people pushing prices up are mostly migrants bringing in money from overseas. So it seems we’re in for an upswing within the next 6-12 months, probably despite the continuing challenges of high construction costs and inflation.
In our news, disappointingly, a couple of recent VCAT appeals have been overturned, and their permit applications refused – and clients are re-thinking the direction of their sites. And this seems to be the property developer’s journey – hits and misses and hopefully more hits than misses but misses still do often happen. Otherwise, the year has a number of projects booked in to take up the next 6 months of the year with more coming through on the horizon, so its shaping up to be a busy one.
This month to kick off the financial year in our video interviews, we are starting a new series about Thought leadership on Social Media. Mike Scott, who I’ve known for the last 5 years, has achieved tremendous success in getting his message through to extremely hard-to-reach people. He was a co-founder of a fintech blockchain services company, Nona and through his podcast called the Fintech Founder’s Journey, a confluence of events led to his company being acquired by a multi-national online payments company.
In the first episode on how he uses social media, we discuss his strategic approach to content marketing.
AI is rapidly evolving, and new tools and techniques are constantly being developed. In 2017 I wrote an article on what I thought could be some of the ways that artificial intelligence would impact our industry and the broader property industry as a whole, and it’s been incredible to witness the events over the last 6-9 months ever since ChatGPT was released onto the open market in late November 2022. The article provides a summary on the current tools available to the industry and are specific for architects, visualisers and designers.
We’re super excited to welcome a new member of our team. Marlou Jane has joined us in the last two weeks to be an all-around marketing and operations assistant. While you may not immediately have contact with her, be sure to know that our operations are going to be taking a step up with her on board.
And my training towards Ironman is progressing along too – the snapshot above is showing some of the same rides from last month, and while the distances varied a bit, slowly but surely I can see that my strength on the bike is improving. It’s amazing to look back and recognise how far I’ve come in the last 6 months – just small consistent steps forward and having the coaching team behind me has been invaluable too.
All the best for the month ahead and reach out if anything comes up,