It’s almost the end of another financial year.
The first half of this year has been a busy one for us, our client base has seen steady growth with a strong focus on project management and property maintenance. The general feel in the industry is a cautious confidence. Interest rate issues are a continuing ‘hot topic’, as well as the rising cost of living! .........all very relevant.
So why the cautious confidence, we hear you ask ?
Well let’s explain in greater detail.
The building industry has been, and will always continue to be a major factor when interest rates and inflation are concerned.
The immediate effect of even a marginal rise is very clear, and the belt tightening begins; the more the increase, the tighter the belt, and fundamentally that’s what ‘the powers that be’ are hoping for. With that in mind, it’s apparent that the squeeze affects everyone, including our industry, and new home contracts slow as a result. Let’s take a moment to view the ‘glass half full’ and take a closer look at ‘cause and effect’.
The new home buyer/seller, the investor, and even the risk taker can clearly see a ‘wait and see’ attitude is the best tact, and perhaps rightly so. ‘That’s the cause’.
The ‘effect’ on the other hand is the possibility of spending smaller amounts on renovating or extending the property you already own, to achieve your dream sooner without the excessive costs (and potential headaches), as well as a perception that if an existing investment property is already owned, keeping it in good condition, keeps a tenant of good condition. So ‘The effect’ becomes an opportunity to continue to provide a service streamlined to those clients and their requirements and seize the ‘glass half full’. There is no doubt the following months are certain to contain challenges for all of us and that’s where the ‘cautious confidence’ we mentioned earlier comes to mind.
Our company prides itself on a foundation based on these fundamental practices and we look forward to being of service for you, and any of your future projects.
* NEWS ARTICLE - “Finance costs hit building industry”