Hi, and welcome to September,
Spring is finally here, and so are the things we all look forward to with the warmer weather approaching: the Grand Final for the footy fans, the Melbourne Cup in November, and various marathons and open-water swimming events for mad people like me. 🙂 I saw a great quote on a nearby pub today: “Do people who run marathons know they don’t have to?”
In all seriousness, I’ve just run my 7th half-marathon in Adelaide and completed it in 1.40.40 (about 5 minutes faster than last year’s result), so I’m super happy about it. The bigger goal from here on is the Melbourne marathon in 6 weeks, so let’s see how it goes since the last time I ran this marathon was about 12 years ago, in 2012.
Meanwhile, in the property world, something that hasn’t happened since CoreLogic reports began 40 years ago: Adelaide’s median price of $790,800 is now higher than Melbourne’s $776,044. Check out the article here.
Over the last couple of months, we have received plenty of this evidence from the Melbourne developers we’ve spoken to—investors leaving Melbourne in droves and owner-occupiers contemplating moves interstate for a bunch of reasons. It bodes a question, though—as property investment is a cyclical beast, wouldn’t at some stage Melbourne have a turnaround in growth and opportunities?
Something to consider about the median price indicator, though, is that it only takes into account what is currently available on the market and is the sale price of the middle home in a list of properties ranked from the highest sale price to lowest over a set period of time.
And this was hidden in the article right at the very end – “Total listings in Melbourne were about 25 per cent higher than the previous five-year average but listings in Perth and Adelaide were down on the five-year average by more than 40 per cent.”
So this could mean that there is a lot more property for sale in Melbourne than there is in Perth and Adelaide – and with a broader bell curve, it’s also quite likely that the properties that are being sold in Melbourne are perhaps more of the investor/first home buyer price range. Thus, the median price is lower than that of Perth and Adelaide. In any case – it’s a troubling indicator for the times. Still, it might also be a harbinger of opportunity if and when the Melbourne property market comes back, as has happened before through different property cycles. Not that we’re a property investment advisor, but it seems common sense with the kind of population, economy and other fundamental principles that drive supply and demand.
In our news, it was super exciting to see two projects receive VCAT permits – one for a uniquely designed office building in Ballarat Central and the other a townhouse development that has been to VCAT twice.
Two new developments were launched for off-the-plan marketing: Mullum Mews and Qudos Portarlington. And finally, the custom visualisation project we’ve been working on over the last six months has finally gone public – the Muswellbrook Pumped Hydro Energy Storage project. It’s also the feature project of the month and you can check it out here.
Articles of Interest
Here are some articles we’ve come across over the month that could be of interest:
Aussie city dubbed world’s ‘most beautiful’
High-rise affordable housing project fast-tracked for Frankston
Melbourne transforms into slum city
Low-cost iron-air technology to feature in world’s biggest battery project in US
Big Build projects spring towards delivery
Is Australia’s housing shortage keeping inflation higher for longer?
Home-grown solutions to tackle regional Australia’s housing troubles
Buyer confidence jumps as more homes hit the market across Australia
High Performance Habits for Men – Part 3: The Purpose
In the first and second episodes, we explored the significance of the mind and body. In this third instalment, we delve deeper into what fuels these habits—the very core of why we strive for high-performance: The Purpose.
At the heart of every high-performing individual lies a powerful “why.” It’s the purpose that wakes you up in the morning, drives your determination to push through challenges, and keeps you grounded in moments of uncertainty. For many of us, maintaining optimal health isn’t just about looking good or living longer—it’s about fulfilling a purpose beyond the self.
Click here to discover this thought-provoking video interview on the why we do what we do
Pat Gerace – Building Tomorrow Through His Passion for Infrastructure
Next on the Land Pioneers podcast is Pat Gerace, a seasoned development professional passionate about infrastructure who shares his insights on how Greenhill is redefining urban spaces. Before Greenhill, Pat was the CEO of the Urban Development Institute of Australia (SA) and had been advocating for land developers with the government on policy and other initiatives.
Pat’s extensive urban planning experience and commitment to integrating green spaces into urban environments make him a visionary.
He also explains the importance of mentorship and the challenges of balancing land developments while offering a unique perspective on creating large-scale infrastructure projects.
Muswellbrook Pumped Hydro Energy Storage
We are excited to showcase the most recent 3D flythrough and perspectives from a recently finished custom visuals project that will have a big impact on New South Wales and its energy storage and production. It’s recently been awarded Critical Infrastructure status – so we’re hoping that the decision to move forward with it will be imminent.
This cutting-edge project, located in the Upper Hunter region, harnesses the power of pumped hydro technology to provide a reliable and renewable energy storage source. The facility not only supports the grid during peak demand but also plays a vital role in the region’s transition towards a cleaner, more sustainable energy future.
Click here to learn more about the project.
PR Visa Challenge
Not all is smooth sailing, though – we’ve recently been challenged with the Australian permanent residence application for one of our key team members – Yuliya Klymenko. Even though she’s highly qualified with a master’s degree, interior design experience in Ukraine and here and has been with us for over two and a half years – after she applied through an EOI application for a skilled assessment, she didn’t receive an invitation to apply for a skilled visa for permanent residence.
We’re looking at alternatives, as the sponsored visa isn’t quite so simple. It doesn’t cover her kid’s school fees or Medicare for two years. So, if you’ve been through a process of this nature and have some suggestions, we’re all ears.
Wishing you all a productive and inspiring month ahead,
Stan Zaslavsky