I have been involved with property development and marketing...both large and small...for over 22 years.
It is my specialty.
In my particular field, I deal with projects in the embryonic stage...as such, current projects often don't see the light of day for 12-24 months.
In effect, my work is a perfect chrystal ball to future activity.
I service a niche market and am considered by my peers to be among the top 5 in the country. I have never advertised and include most of Australias 'A' list as my clients. In normal times I accept only 30% of all work offered to me...and in the recent boom times, I was only taking on about 2% of work on offer.
The work has completey dried up...something I haven't seen in over 20 years.
So what does that tell you?
This could be viewed in two ways...
1. Declining development, or in other words, declining supply, could in actual fact help maintain property prices, once the current flood of projects get through the market
2. The property development market has got it right and can see a fairly serious correction comming up...or at the very least, a flat unatractive investment environment.
Given the upcomming lack of investor interest in this area, it is easy to deduct that there will obviously be less mony flowing into the sector...and we all know the implications of that scenario.
