It’s been an interesting month with everything going on including a last minute fork in the road to recovery with Melbourne going into a 7-day lockdown, which hopefully will pass soon.
Amidst the health stuff – the new budget has come out promoting homeownership with a range of new incentives and aimed primarily at buyers looking to enter the market. On the flip side, the rents are growing to the extent, that in a lot of markets – it’s becoming more affordable to buy rather than rent.
Over the year to 20 May, average weekly rents jumped by 15.7% for houses throughout Australia and 7% for units. Houses also outperformed units in every capital city.
So all in all – the booming property market is hopefully outweighing a lot of other challenges that our economy faces going forward. We’ve certainly experienced a very strong upswing in new project enquiries in May, which normally is a much more subdued month as we head into wintertime.
And continuing on with the video series this month, we are concluding the series on stonework for projects. In this episode, we discuss what developers specifically need to know about costs and other logistics when it comes to stone surfaces across the interiors. Click here to check out the video interview.
And I’m excited to share that I successfully completed the Great Ocean rd 23km half marathon in the middle of May as well. I found it far more challenging than even running the full 45 km marathon along the Great Ocean rd – the hills were certainly alive with the sound of lots of feet thumping and navigating that minefield took a lot more effort than I expected.
The wind and the rain on the day also didn’t help much – but it’s all part of the experience and much like in business, there are peaks and troughs – all that matters is that we get through it and complete – whatever it takes!
Here are a couple of the lessons I learnt from doing the run:
1. The hills along Great Ocean road are extremely demanding – but at the same time, every time I was going uphill – I knew that soon there would be a crest of the hill and then it was going to get easier – so tough times rarely last …
2. Managing my physical and emotional state at the start of the race. It was a record crowd of over 5000 people competing in all of the events on the day – so the start line was very crowded. So rather than conserving my energy at the start – I started weaving around them and lost a lot of energy doing that for the first two kilometres. Lesson – don’t worry about who’s ahead – just run my own race!
And a few others along the way – but these were the main two reminders.
Hope you have a great month.
To your development success,