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19 Dec 2019
19 Dec 2019

A Year in Review

Finance
A Year in Review

A Year in Review

Wow is an understatement. 2019 (and Jan 2020), like most years as I’m getting older seem to fly past. 365 days when I was in university seems a lot longer compared to now. What a year we as a business, and industry have had.

Sitting back with the team, we categorised the year as one with two distinct halves.

  • The first half was plagued with negative media coverage surrounding the Banking Royal Commission. It brought to light some terrible practices by our larger institutions, which then had an effect on lending and property prices. This was further exacerbated by the election and a slowing economy
  • The second half saw an election and multiple interest rate cuts push the property market back to the roaring 2016/2017’s – something not many predicted. With this has come a new, more prudent lending standard, which we as a business are glad for
  • I’d personally never seen a swing like this! However, it was an instant reminder of the key concept of price vs. value. As the market over-corrected, the price of a property reduced drastically, driven by lending and negative media articles rather than an actual value decrease. As soon as these items were corrected, prices rose back to meet their true value!

During these two halves, our business has felt never sturdier. The core value we hold to help our clients make the #rightdecision provided the backbone for all our services and procedures. Our success last year saw a number of highlights:

  • We added a new Property Advisory division
  • Our offshore team doubled in headcount
  • Our office space got smaller, then bigger, then got a TV and PS4
  • Our branding had a tweak and so did our website

None of these items would ever happen, without the support of you – our clients, our business partners, friends and family. In April this year we will be 4 years old, something I am personally very proud of, but there’s more to come!

What’s on the agenda for us:

  • We want to better provide you with industry insights, tips and tricks we have learnt. So this is the first of many newsletters and updates
  • We are going to focus on content, by launching our resource hub with tips, tricks and tools for the buying, selling and the financing journey
  • Our Property Advisory team is looking to grow and help as many clients through the arduous journey of buying and selling a property

Looking forward to a big year!

Shehan

elephantadvisory