Happy New Year, although I’m not sure exactly what’s so new about it! It might be January, but it feels depressingly like we’re facing the same challenges as the last year, perhaps with some new ones thrown in for good measure. It begs the question – is there much to look forward to in the year ahead?
Of course, everyone will have a different opinion but despite the rough start I still hold high hopes for a positive year ahead. Yes, I acknowledge that it could be wishful thinking, but I’ve always been a ‘glass half full’ kinda guy and whilst I have never claimed to be a fortune teller, here’s my take on it.
Yes, COVID is here and yes it feels totally out of control. Worse than ever. Yes, it’s impacting the choices we make each day. We aren’t locked down but most people I know are still choosing to lay as low as possible. However, at the same time, everyone is still finding a way to get on with it. I’m not trying to take a political side here; I’m being pragmatic, and I think most people are.
And the thing is we have proved pragmatism can work. Over the past two years, we have all found new ways of doing things and we have embraced the need to work differently whilst also working together to support each other.
In terms of the residential property market, the evidence is clear that pragmatism can deliver positive results. Despite the challenges of 2021, our business sold more properties than ever. Our team worked out ways to match more properties with more people for more value… even in a COVID world.
More broadly CoreLogic statistics show Sydney home values increased by 25.3% in 2021. Yes, the rate of growth slowed as the year progressed but there is no doubt extraordinary returns were still being secured from property throughout the year.
I see no reason why that won’t continue in the year ahead. It’s already clear we’re going to have to manage ongoing challenges from COVID as well as the potential that always exists for international and domestic economic fluctuations.
But the market is resilient. We have seen clients ready to react quickly, to take advantage of opportunities that arise but equally to hold fast and push through to achieve a personal goal or property investment strategy with the support of our team who are proven pragmatists with the ability to find a path to success through the toughest of circumstances.
So, I’m looking forward to the year ahead. I don’t know exactly what it will deliver but I know we have the team and the determination to make it great.