Welcome to December – and what an eventful year it’s been!
I’m super proud to have completed one of my major life goals: the Busselton Ironman 70.3 triathlon. Some of the major keys to success in this have been finding a coach, joining a triathlete squad and being disciplined with consistent training throughout the year. And after 10 years or so of thinking about it, I am finally on the way to participating in a full Ironman triathlon in 2025. More on this later.
While the economy has been a bit shaky through the year as it dealt with continuing supply chain issues, construction prices increasing and a shortage of tradespeople, and as soon as a mini-boom in August / September presented itself (the interest rates stayed on hold for a touch) – it was just as quickly snuffed out by an interest rate rise in November on the day of the Melbourne Cup (which some pundits say will be gone within 10 years).
Australia’s booming population growth, primarily due to net migration, is adding much pressure to the existing housing stock; and according to some analysts the high-interest rates and inflation are unlikely to subside until 2026. You can read more about it here: https://www.macrobusiness.com.au/2023/11/markets-see-stronger-for-longer-interest-rates/
We’re also finding from our sources that many VCAT cases are settling ahead of hearings, with applicants preferring to choose certainty and compromise on key issues instead of taking their chances of ending up at the hearing.
From conversations over the month, developers aren’t taking much time off during the Christmas break and instead are getting ready to work through as next year is likely to bring more of the same. More on this here – https://www.realestate.com.au/insights/what-australias-booming-population-means-for-housing/
A few more articles of interest that I saw during the month to make sense of what’s going on are below:
More investors heading interstate to buy
Land agreement to build Australia’s nuclear-powered submarines
Australia’s high-rise construction boom crumbles
RBA successfully extinguishes house price boom
Australia’s most sought-after suburbs: Where buyer demand has gone through the roof
Homeowners spend years waiting for dispute hearing as Victoria’s tribunal deals with backlog
Is the spring listings surge cooling property price growth?
In this second instalment, Ben Payne explores the critical subject of capital-raising strategies, while progressing from speculating in developments to becoming a full-time property developer.
As an expert in financing and structuring capital raises, he shares the key principles, controls, and operational aspects of raising funds in a small-scale offering.
For an upcoming launch of a new stage of townhouses, we created 360-degree panorama 3D visualisations that allow future purchasers to interactively navigate across different interior areas of the homes.
Busselton Ironman 70.3 Triathlon Complete
So, after years in the making and having spent the last 12 months actively training for it – I finally got to ring the “First timer” bell at the finish line of the Busselton half-ironman triathlon last weekend. It was an incredible feeling of relief, and I was so glad to see my family after getting out of the recovery tent.
Words can’t describe all the emotions I felt crossing the finish line and having visualised this moment for quite a while – stepping through it absolutely changed me.
The atmosphere on the course was electric, with thousands of participants, spectators, and volunteers all cheering so actively that running through it felt like a huge party was about to erupt. And whilst I was absolutely exhausted by the last few kilometres of the half-marathon after riding for 90 km and swimming for a couple of kilometres, it must have been pure adrenalin that I tapped into and got to that red carpet and the bell.
Our office will be closed from the 18th of December, and we’ll reopen on the 8th of January.
All the best for your well-earned holiday ahead, and I look forward to being in touch after the break.
Here’s to greater success in 2024!