Talking to a developer friend this week, he told me of the bizarre predicament he is currently facing.
He can get approvals from the council, which is a tick.
He can get pre-sales from buyers – another tick.
The banks are happy to fund, so you’d think there’s the trifecta.
However, he can’t guarantee construction costs or timing, which freezes the entire project, even once it’s started, and it has seen some apartment complexes just screech to a halt mid-build.
This has forced some developers to go back to their buyers and request an increase on their agreed offers, which many buyers are prepared to do because they see the alternative is no sale at all.
But, even with these increases, it is still not smooth sailing due to the uncharted building landscape we are currently facing.
Each new week sees more opportunities and stimulation for the building sector. The intentions are great, but the resources are limited, and the road out is not yet clear.
The answer is not easy, but it points clearly to one outcome.
Resale prices can’t fall, they can only rise to these new prices, which will only continue to power the existing unit market.
This market has seen strong growth over the last two years, but it looks like records are about to be broken all over the city.
I’m excited to follow arguably Brisbane’s biggest and best unit, the penthouse atop Riparian Plaza, which is being marketed by Matt Lancashire, and what can be achieved for an international apartment in our city.
Originally posted on artofrealestate.com.au With the New Year just two sleeps away, it’s the perfect time to breathe new life into your living space. Embracing change and renewal can not only revitalise your home but also positively impact your daily life. We have curated a list of the top 5 things … Read more
As an agent, there is one thing you can be sure of at Christmas and that’s the question, “How’s the market?”. It comes at least once at every party. It’s a part of our Aussie DNA. So to save all of those conversations and discuss more important things like, “Are … Read more
Cush for Comment – JUNE 29
Talking to a developer friend this week, he told me of the bizarre predicament he is currently facing.
He can get approvals from the council, which is a tick.
He can get pre-sales from buyers – another tick.
The banks are happy to fund, so you’d think there’s the trifecta.
However, he can’t guarantee construction costs or timing, which freezes the entire project, even once it’s started, and it has seen some apartment complexes just screech to a halt mid-build.
This has forced some developers to go back to their buyers and request an increase on their agreed offers, which many buyers are prepared to do because they see the alternative is no sale at all.
But, even with these increases, it is still not smooth sailing due to the uncharted building landscape we are currently facing.
Each new week sees more opportunities and stimulation for the building sector. The intentions are great, but the resources are limited, and the road out is not yet clear.
The answer is not easy, but it points clearly to one outcome.
Resale prices can’t fall, they can only rise to these new prices, which will only continue to power the existing unit market.
This market has seen strong growth over the last two years, but it looks like records are about to be broken all over the city.
I’m excited to follow arguably Brisbane’s biggest and best unit, the penthouse atop Riparian Plaza, which is being marketed by Matt Lancashire, and what can be achieved for an international apartment in our city.
That’s a ‘watch this space’.
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New Beginnings: Top 5 Home Improvements to Kick-start the New Year!
Originally posted on artofrealestate.com.au With the New Year just two sleeps away, it’s the perfect time to breathe new life into your living space. Embracing change and renewal can not only revitalise your home but also positively impact your daily life. We have curated a list of the top 5 things … Read more
Read Full Post
ANOTHER STRONG YEAR FOR BRISBANE’S REAL ESTATE SCENE
As an agent, there is one thing you can be sure of at Christmas and that’s the question, “How’s the market?”. It comes at least once at every party. It’s a part of our Aussie DNA. So to save all of those conversations and discuss more important things like, “Are … Read more
Read Full Post