At the start of 2020 no one could have predicted the world we are living in today. I know I personally underestimated the impact Covid-19 would have on our lives when I first observed the phenomenal construction feats being undertaken in China to build several new hospitals in the space of mere weeks. While I was watching these time-lapse videos in awe of the coordination and resources, it did not cross my mind that only a couple of months later our own country would be going through a major health crisis, in partial lock down and practicing social distancing.
If you are reading this email you most likely fit into one of the following categories – you have enquired on one of our projects, perhaps subscribed to our emails out of interest of knowing what we are up to, you are one of our financiers, consultants, contractors or suppliers who have been such a big part of our success, you might be a family member or friend who we force to support us, or you may be one of our property owners who has purchased one of our homes. We would like to take this time to acknowledge and thank you for trusting Siera Group in whichever category you fall – you are the reason we have such a wonderful business.
We have refrained from sending specific Covid-19 emails over the last few months as you likely have been inundated with these and we didn’t feel the need to add to the overwhelm. If you are interested though, here is what Siera Group has been up to recently and what the next month looks like for us.
The first quarter of 2020 for Siera Group was about finishing the 3 projects we had under construction – The Terraces on Ellis, Aspekt in Camp Hill and our Ara St Residences. We are excited to say in the last couple of weeks we have commenced settlements of our sold homes in The Terraces on Ellis and we are looking to start Settlements at Aspekt in the coming weeks. We have ongoing sales campaigns in both of these projects and despite a large drop in enquiry we are still conducting some very positive private inspections that are progressing through to sales. We anticipate that both of these projects will be sold out of before the middle of the year.
We have received word that our Hawthorne Project Development Approval will be received within the next few weeks which is very exciting news as we are eager to commence construction. We have been and continue to be very active on the acquisition side of the business as we look to sure up our project pipeline for projects to be delivered in 2021 and beyond.
Lastly, I could not leave this newsletter without making some mention of our opinion of the future. There is no doubt we are in very difficult and unprecedented times were no one can accurately predict what the future may bring. Looking at all of the major drivers for our economy and the property market however, we have the opinion that once the Health Crisis is under control through what appears to be very successful social distancing and shut down measures currently in place, we should see business’s start to return to a new normal relatively quickly. Although this may not be in the same capacity as pre-pandemic we believe there is going to be a lot of pent up demand for lets call them “non-essential activities” that will lead to consumer spending and the reactivation of jobs. We do not believe we will return to the same level of employment as pre-pandemic quickly but we will certainly see a lot of jobs return and businesses return to normal operations.
The Government stimulus across the board has certainly provided a shock absorber for what could have been a lot worse initial economic impact and we think through strategic, generous and well thought out additional stimulus from all levels of government we will see the economy move back towards normal levels of growth in 2021. In regards to property, we believe that there is always going to be an underlying demand for quality homes in quality locations and that is how we have built our business and our track records support this belief. We have no doubt that although sales rates will slow during these times, our interpretation of all of the indicators for the Brisbane Property Market in 2021 and beyond is very positive and we believe there are going to be plenty of very surprised and pleased Brisbane Property owners.
Once again, thank you for your support of Siera Group even if it is as little as reading our newsletter, we appreciate your time. Stay safe and look after yourself and your families during this time. We are very excited about the future and hope you are to.